The Baby Boom Generationand Aggregate Savings - FEDERAL RESERVE BANK of NEW YORK

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Quarterly Review

The Baby Boom Generation
and Aggregate Savings

Summer-Fall 1994Volume 19, Number 2

Authors: Richard Cantor and Andrew Yuengert

Many analysts predict a resurgence in national savings as baby boomers approach retirement. This analysis of demographic trends and survey measures of savings and income suggests that such expectations may be ill founded. Although baby boomer saving rates will likely rise over the next twenty years, aggregate saving may not increase because other, low-saving age groups will be claiming an increasing share of the population. Moreover, despite a reputation for free spending, many baby boomers have accumulated substantial savings already and may not raise their saving rates aggressively in their later years.

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16 pages / 1,160 kb

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