Baby boomer spending may decrease due to economic instability, risking a recession, warns Brij Khurana.
Baby boomers, the wealthiest generation in America, may reduce spending if economic instability arises, warns Brij Khurana of Wellington Management. With significant wealth in stocks and real estate, any market correction could lead boomers to cut back, risking a recession. Currently, only 19% of boomers plan to increase spending in 2024. Their shift from stocks to bonds may cause market volatility and further exacerbate economic challenges.
September 21, 2024
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