Effects of the recession on older consumers (50+)

From Dick Strout's Marketing 50+ newsletter:

Note: Not sure how he investigated, but for me it was interesting to read again that most of the savings and investment assets are with people over 50+ years

Summary
Over 25% say the recession has had little or no effect with a third reporting that they have not changed their spending patterns.

Over 60% say the recession has resulted in them only making a few cutbacks in their expenditure.

Despite older people holding 80% of savings and investment assets in the UK, the fall in interest rates has seriously affected only 20% of respondents.

Not all of the news is so positive - 12% have cut back drastically on spending.

The banks and the Labour Government are blamed for the economic problems resulting in a significant swing to the Conservatives and minority parties.

The 50-plus are giving far more financial support to their families than they are receiving.

Charitable donations have been badly, and I mean badly, hit by the recession.

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