Boomers’ Money Going to Housing, Kids’ Education—Not the Fun Stuff

Clothes shopping, dining out, spending on home furnishings are down

by Lesley Kennedy • MORE.com Reporter

So much for heading toward the retirement years with a pocketbook full of cash to throw around. Baby boomers are lucky if they’ve got a change purse to go to.

Forbes reports a new study finds boomer money is going toward increased housing costs, paying for kids’ college education, utility payments and health care premiums. And shelling out for the fun stuff—like eating out, clothes and items for the house—is down, the magazine adds.

So maybe a new couch for the living room can wait, and we’re fine with a cozy evening dining in. But give up our shoe shopping? Never.

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