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Insights

Date: 9 February 2016

Statistics are something that provide insight into the past, the present and the future. We compare past trends to the present day trends to help us predict future trends. Here are some interesting stats around Baby Boomers, Generation Y and our current use of technology.

Baby Boomers

  • Baby Boomers currently comprise 25% of the population
  • They own 55% of the nation’s private wealth
  • By 2020 the oldest boomers will hit their 70’s and we will witness the biggest intergenerational wealth transfer in history

Generation Y

  • 87% of Gen Y’s never leave their phone
  • Rely on non – traditional channels for news and media
  • 33% don’t think they will need a bank in the future

Technology

  • 2 in 3 Australians are using tablets i.e. Ipad and surface pro’s
  • 75% of Australian’s use dual screens for their computer either through work or at home
  • 31% actually use triple screens
  • 1 in 5 people only look on the internet to find an answer
  • 127% mobile subscriptions in Australia
  • 90% of time spent on mobile phones is spent on apps
  • 95% of apps are abandoned within a month

The stats show the ever evolving world we all live in. Technological change presents great opportunities, as long as we are all willing to embrace change.

General Advice Warning: The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.

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