The population of the United States is growing older. Because of
the ageing of the population and the decline in income that occurs
when people retire, both the amount and the composition of spending
by American households could change substantially as the 76 million
members of the baby boom generation reach retirement age. This book
presents data on spending by Americans aged 55 and older collected
by the U S Department of Labor through its Consumer Expenditure
Survey (CES). From 1985 to 2005, the average annual expenditures of
older Americans rose along with their incomes, and the distribution
of spending among expenditure categories changed. These changes
were the result of changing tastes and preferences among consumers
and differences in the rates of price increase among various
classes of goods and services.
General
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