Every day, some 10,000 baby boomers hit retirement age. By 2030, all boomers will be in their retirement years.
This is a massive demographic shift that should be on every investor’s radar. Because when you drill down into the numbers, you see that the generation that brought us the Civil Rights Movement is now providing an unprecedented spending gale for the U.S. economy.
This generation had a net worth of $75 trillion at the end of the first quarter…
That’s over half of all wealth in the U.S.
While $19 trillion of that net worth is tied up in real estate, the bulk of it is parked in liquid assets.
That includes $8.9 trillion in bank deposits and money market funds alone, which should keep spending up even in a slowing economy.
This hoard of cash also got a nice boost from the surge in Social Security payments, which just saw their biggest bump in 40 years…
All of this is great news for the U.S. economy.
Spend, Baby, Spend!
The U.S. economy depends on people going out and spending money.
Consumer spending comprises 70% of our nation’s GDP. And with this $75 trillion spending boom heating up, the outlook is looking promising.
Some industries – and certain stocks – will benefit more than others.
On my list are healthcare companies.
No matter what’s going on in the economy… folks don’t stop spending on their health. They don’t stop taking their prescription drugs or cancel a needed medical procedure.
Even more, per capita healthcare spending increases significantly from age 65 onward.
Another sector to benefit from this spending boom is the travel and tourism industry.
Many retirees have the time and money to take vacations. That’s good news for hotels, airlines and other travel-related industries.
The third sector I’m looking at is the real estate industry. Folks who have a substantial portion of their net worth tied up in real estate may decide to downsize, relocate or invest in different properties during their retirement years.
This creates opportunities in the real estate market for both residential and commercial properties.
The Boomer Spending Boom Is Just Starting
I don’t expect this to be a flash in the pan. I expect the “boomer spending boom” to propel markets and the U.S. economy for years.
However, there is one opportunity that tops even these three investing themes.
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