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Grandparents Boosting the Economy, Enjoying Income Increase

By Michelle Seitzer / Posted on 05 August 2011

After recent posts citing economic insecurity among senior households and the challenges of a graying population, there is finally some good news to add to the mix, thanks to a new MetLife report.

Issued in July, The MetLife Report on American Grandparents: New Insights for a New Generation of Grandparents shared positive growth among household incomes (to the tune of $659 billion dollars in the last decade) and the highest level of consumer spending among the general grandparent demographic (i.e. 55-plus).

And this demographic is expanding rapidly: as per the report, nearly one out of three adults will take on the title of grandparent by the year 2020 (for an estimated total of 80 million grandparents). Now that’s good news!

Unfortunately, things haven’t been the same for the adults in the 25-44 age bracket, who suffered a total income loss of $312 billion in recent years. This is one of several factors that has fueled an increase in the number of intergenerational households (either with grandparents moving in, or grandchildren moving out to live with grandparents), which is not altogether a bad thing despite the sometimes unfortunate circumstances leading to these blended homes.

Are you a grandparent, or soon to be one? Check out our free Grandparents & Intergenerational Activities Resource Guide, right here at SeniorsforLiving.com.

There are 2 Comments about this post

  1. Since we are working longer and in our high earning years, it makes sense that our income is rising. Hopefully grandparents (like me) will splurge on those adorable grand kids and give the economy a boost!

     

    on 20 November 2011 / 5:02 PM

     
  2. Marie, well-said! Enjoy spoiling your grandkids. Thanks for stopping by the blog and sharing your thoughts.

     

    on 21 November 2011 / 11:15 AM

     
 

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