One Group Is Fueling the American Economy More Than the Rest!

A new AARP study shows the strong and growing contributions Americans over 50 are making to the economy. Pennygem’s Elizabeth Keatinge has more.

Transcript

00:00don't underestimate grandma new research shows that aging Americans are fueling economic growth

00:09stimulating jobs and creating opportunities AARP just published its longevity economy

00:16outlook report according to the research the 50 plus population contributed 8.3 trillion

00:22dollars in economic activity to the US economy in 2018 they aren't stopping there this is expected

00:28to more than triple to 28.2 trillion in 2050 this group contributes significantly to local state

00:35and federal taxes like to the tune of 1.4 trillion in 2018 and 5.8 trillion expected in 2050 Americans

00:44over 50 pay 59% of the total income taxes paid in 2018 oh and don't forget they contribute to

00:51society by volunteering contributing to charities caring for family members and helping to raise

00:56grandchildren