The Way Old People Spend Is Bad News For The Economy

[FarCenter]

http://www.businessinsider.com/changes-in-spending-with-age-2014-3

[djean111]

1. Well, this old person does not have enough money to spend on extras.

When you are on a fixed income, and most all of the Dems and all of the GOP seem intent on cutting, ya tend to be wary of buying stuff.
If I could, I would remodel my house and buy a new or used car. Go out to eat, things like that.
That's why it seems to me to be a good thing to increase Social Security payments - that money will whoosh right back into the economy, creating jobs. But I don't think real job creation is the goal nowadays.

[CBGLuthier]

2. Well, that is because once you become an "Old Person" you realize

you don't actually need all the stupid shit that the "young people" are so obsessed with acquiring.

[FarCenter]

4. Plus that "travel and see the world" impulse tails off pretty quickly

It's more hassle than it's worth.

[djean111]

6. Maybe because I travelled overseas a lot when I was working, travel seems easy and fun

to me. Wish I could still do it. Just throw stuff in a suitcase and get on the plane, there are nice people and not-so-nice people all over the world.

[pipi_k]

9. Well, yes and no...

Or maybe it's just because I'm married to an old guy who loves gadgets and things.

He's in his 70s.

We have all sorts of stuff here. He went out about a year and a half ago and bought himself a vintage Triumph T3. And a motorcycle last year. He has an iPhone, iPad, a regular PC, a couple of laptops, etc., etc.

We shelled out about $8000 last May for a new propane furnace for the house.

Much of what we were able to do around here to our house came about because his parents saved saved saved their money and hardly spent anything on themselves, having both lived through the Great Depression years. Even after his dad died, his mom would not spend money to get herself anything. So when she passed away the three kids inherited a nice chunk of money.

Mr Pipi is not as frugal. He's determined to enjoy whatever money we have and not go without. Our bills are paid, and whatever is left is fun money.

We don't smoke or drink or go on vacations, so there's money for other fun stuff. I half-believe that if we didn't buy what we do, our UPS guy would only be working part time.

[Jenoch]

3. What is your opinion about the article?

[djean111]

5. My opinion is that old people are seen as not doing their share of being consumers.

Of course, when we were younger and were being first class consumers, we were greedy thoughtless Boomers. Read that somewhere yesterday.

[FarCenter]

8. A decline in GDP/capita due to an aging population doesn't equate to a decline in standard of living

Old people need less stuff.

Children are really expensive to maintain and educate with minimal return on investment for many years.

[HereSince1628]

7. Nothing new about this...it is why advertising and programming are aimed at <55's

The exception making that rule being the inexplicable presence of Lawerance Welk and Guy Lombardo on Milwaukee Public TV.

[oldandhappy]

10. Bad for the economy?

We are supporting the entire health care industry!! Look at the age of the people in the drug ads. I live in a senior mobile home park. For many here, their social life is going to a vast array of doctors.