Baby boomers are largely viewed as individualistic and self-centered, and more than 50 per cent of the country's disposable income resides with this demographic.
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An annual survey of
baby boomer retirement expectations by the Insured Retirement Institute found that 45 percent of boomers have no savings for their golden years.
The national median was about $25,000 for
baby boomer debts, Lending Tree said, noting that "loans and credit card balances account for the largest share of these balances."
Millennials (49 percent) were twice as likely as
Baby Boomers (20 percent) to pay someone back using a peer-to-peer banking app than a physical currency like cash or check.
According to accountancy firm Moore Stephens, the tax burden has fallen 4 per cent in the past year for the
baby boomer generation - those born between 1946 and 1965 - as millennials, born between 1977 and 1995, paid an extra PS5 billion in tax.
This compares to only 57% of
Baby Boomers and 74% of Gen Xers who say the same.
Figures from the Office for National Statistics show that a higher proportion of World War One
baby boomers remained childless compared to those who came after them.
r aby Nearly a fifth (18 per cent) of World War One
baby boomers smoked at the age of 70.
The researchers found that for
baby boomers, the screening rate was 11.5 to 12.8 percent.
Twenty percent of
baby boomers attribute their increase in savings to a paycheck bump, and the same amount say they have a better understanding of how to set up a budget and have cut a recurring luxury expense
