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Not by a long shot. Boomers are still the highest in spending[1]. I was a broke college student forever and somewhat broke for the years or so after (no loans I worked through college). I’m in the 30-40 range with kids and I spend much more than my twenties.

Lots of college students are spending their parents money for these kinds of things.

[1] https://resources.datadrivenmarketing.equifax.com/dyks-equif...

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While older consumers do have more money to spend, most advertisers prefer to target younger consumers. The thinking is that boomers already have established brand preferences and spending patterns so it's much harder to convert them into new customers.

This is only really true for television advertising, since most of it is brand building, instead of "click here and buy now" online.

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