Older boomers, born between 1942 and 1953, spend more on insurance and investments as they think about retirement. With fewer responsibilities at home, they also spend considerably more on vacations and recreation than the other demographic groups.

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Among priorities of this demographic group are upgrading their homes, ensuring education and independence of their children, obtaining luxury items like boats, and going on vacation. In spite of the higher cost of children's education, this group can afford to remodel their home, purchase better furniture, and buy higher-quality clothing for themselves. Insurance and investments are high-ticket items as they begin to think about their later years and retirement. With fewer responsibilities at home, older boomers spend considerably more on vacation and recreation than any of the other demographic groups

Older Boomers, Born Between 1942 and 1953, Spend More on Insurance