'THE NEW OLD': WHERE THE ECONOMIC ACTION IS.

The article focuses on a study which shows over 50 generation was the most reliable source of fueling the economy. The study shows that of the household financial holdings including stocks, bonds and liquid assets, 77% were in the hands of over 50 generation. It also shows that the older generation spending percentage of pretax income has increased to 91% in 1983 from 84% in 1973. Further, during 1960s through mid-1970s, the older generation group personal income has grown to nearly 3% average.