Baby boomers stay healthy, attractive and entertained in retirement
“Fore!”
A new report ‘Tomorrow’s Consumers’ from the National Centre for Social and Economic Modelling (NATSEM) in Canberra, shows that the one million new ‘retired’ households with a household head over 65 years will be created between 2004 and 2020.
They will spend significant amounts to keep themselves healthy, attractive and entertained in retirement, spending their savings on gym membership, golf club fees, gambling, live theatre and healthcare, including cosmetic procedures.
They will spend their savings on themselves rather than on children’s inheritances, unlike the previous, more frugal, generation, according to the report.
