|
|
||
The spending power of grandparents is a thing to behold Date published: 12/14/2007
BY EDIE GROSS
Debbie Tyson is counting heads. She's just spent an hour and a half with her five grandchildren on the Virginia Railway Express' Santa Train. And though the Big Man seemed willing enough to bring her babies presents on Christmas morning, Tyson wants to deliver a little more instant gratification. "Of course, they were the best-behaved children on the train," she says with a grandmother's pride. "We're going to Toys 'R' Us." But how to fit them all in Grandma's sedan? "I need a seven-passenger vehicle," she says. In the end, the four oldest pile into the Grand Marquis for the trip to Central Park while 18-month-old Camden goes home with his parents. At the store, the children carefully weigh their options, leading Grandma through a maze of Transformers and Power Rangers, Barbie dolls and Cheetah Girls. Tyson, a science teacher at Brooke Point High School in Stafford, was a stay-at-home mom when her three daughters were little. She was as generous with them as she could be, she said, but financially, she and her husband, Jeff, are better off now. They're both employed. Their house is paid off. And they don't have the day-to-day expenses associated with raising children. "If we're going to spend it, they're the ones we want to spend it on," she said of her grandchildren--Jeffrey, 7, Robbie, 6, Callie, 4, Evey, 3 and Camden. by the numbers Tyson's in good company. About one-third of American adults are grandparents. Together, they spend more than $30 billion a year on their grandchildren, according to Reyne Rice, a toy trend specialist with the Toy Industry Association. That's twice what grandparents were spending on the little rugrats only 10 years ago. And with baby boomers entering prime grandparenting years, those numbers are expected to grow. "Baby boomers always grew up believing they could have it all, and as grandparents, it's the same thing," said Rice. "They're healthy. Most have saved and secured for retirement. And now they want to live it up and spend a little and be with their families." While parents generally have to buy necessities--food, clothing and school supplies--grandparents often can splurge on the fun stuff. They spend up to $4 billion a year on toys and games alone, according to Rice.
1. Be respectful. No personal attacks.
|
|
|||||||||||||
