The Savings Behavior of Baby Boomers and Echo Boomers

摘要

Much has been written on the Baby Boomers and Echo Boomers following the Great Recession. This paper examines the savings behavior of these two groups and gives possible reasons as to why they make such decisions. Using data from a Times Union/Siena College poll to 751 residents in 51 upstate New York counties, I attempt to illustrate why people’s perceptions differ from reality. A chi-square analysis is used due to the categorical nature of the data. The findings show that people make economic decisions based on the life-cycle hypothesis and less on the economic recovery.