March 13, 2013

Baby boomers, people born between 1946 and 1964, are still the driving force in growing the economy. Perhaps one reason the Great Recession seems to linger on in many small towns is that “Generation Squeeze,” a nickname given to baby boomers who are sandwiched between adult children and aging parents, are some of the hardest hit by the economic downfall of the past several years.

A new survey conducted online by Harris Interactive for CouponCabin.com shows just how challenging it is for 79 million baby boomers to spend more. More than one out of four (26%) support adult children financially or have them living in their home. Twenty-one percent have supported their aging parents financially, while 18% supported their aging parents in their home.

The pressure to support both adult children and aging parents, while also struggling to afford their own retirement, is leading to delayed retirement. More than 42% of baby boomers said they have postponed their retirement due to financial issues. For the full survey results you can go here: http://www.couponcabin.com/blog/baby-boomers-survey/

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