In marketing circles these days, a lot of attention is being paid to Millennials (about 68 million 18 to 33 year olds) and Boomers (about 75 million 49 to 67 year olds). Together, these two groups make up over 60% of the U.S. population.
That makes it easy to "x" out Gen X (34 to 48 years old) -- but that would be a mistake. Gen Xers make up about 25% of the U.S. population, over 60 million strong. What's more Gen Xers, especially affluent ones, are generally more optimistic about the U.S. economy than their younger and older counterparts, according to a recent Shulman Pulse study.
Affluent Gen Xers should not be overlooked by marketers because they are planning significant expenditures, according to the study. Paying for their children's college expenses is a primary concern for half of Gen Xers; retirement planning is also high on the list of concerns. Pleasure travel and purchasing luxury items are two of the leading expenditures planned by affluent Gen Xers.
Affluent Gen Xers have an average household income that is close to three times that of adults in the general population. The study indicates that, on a per-adult basis, Gen Xers are actually ranked above other generations based on total net worth dollars and total income dollars.