Baby Boomers (born between 1946 and 1964) are more likely than the general adult population to vote, play the lottery, remodel their home or live in a household that owns/leases at least three vehicles, according to Mediamark Research Inc.‘s BoomerView.
Asked about particular behaviors in the last 12 months, more than one-half of Boomers (55%) report that they voted in a federal, state or local election; almost one-third (30.8%) undertook a home remodeling project; and 41% say they played the lottery – making them respectively 22%, 21% and 18% more likely than the general adult population to have engaged in these activities.
Moreover, perhaps driven in part by Boomers’ relatively high incomes and wealth, 35.6% report they live in a household that owns or leases 3+ vehicles.
BoomerView is a set of generational segments in the “Survey of the American Consumer” that provides a detailed view of the Boomer market as well as the generations that precede and follow it.
Boomers are an optimistic group, according to the study: Almost 4 in 10 Boomers (39.1%) say they believe that they and their household will be better off financially one year from now. Moreover, close to 90% say they believe that they themselves will be financially “better off” or “the same” one year from now.
However, according to BoomerView data, a fairly large portion of Boomers are potentially unprotected financially should they face serious medical issues: Almost one-quarter (23.3%) report that they have no personal medical, hospital or accident insurance.