past 20 years", according to a 2017 report by the Resolution Foundation. For this reason, the transfer of wealth between the baby boomers and their children, the millennials, will prove highly beneficial to the latter compared to previous cohorts, especially those who came from high-income families. A 2020 paper by economists William G. Gale, Hilary Gelfond, Jason J. Fichtner, and Benjamin H. Harris examines the wealth accumulated by different U.S. demographic cohorts using data from the Survey of Consumer Finances. They find that while the Great Recession has diminished the wealth of all age groups in the short run, a longitudinal analysis reveals that older generations, including the baby boomers, have been able to acquire more wealth whereas millennials have gotten poorer overall. Nevertheless, some American politicians have warned that many senior citizens did not have enough savings for retirement. A survey found that nearly a third of baby boomer multimillionaires polled in the US would prefer to pass on their inheritance to charities rather than pass it down to their children. Of these boomers, 57% believed it was important for each generation to earn their own money; 54% believed it was more important to invest in their children while they were growing up. Bank of America Merrill Lynch estimated in 2014 that the 'silver economy' would be worth US$15 trillion in 2020, up from US$8 trillion ten years prior. This dramatic growth is due not just to baby boomers retiring en masse, but also to their spending habits. While previous generations generally preserved their wealth and passed it onto their children, many baby boomers prefer to spend their money on their own long retirement. Leisure and other habits As younger generations move towards getting more of their entertainment via the internet, traditional television has held up better in the leisure time of baby boomers. Research from 2018 into British viewing habits suggested that individuals aged 65 to 74 (mainly older baby boomers) viewed an average of 333 minutes of broadcast TV each day higher than any younger age group and only nine minutes less than in 2010. In the case of younger baby boomers the figures suggested that 55 to 64 year olds consumed an average 277 minutes of broadcast TV each day in 2018 (still higher than any age range their junior) with a sharper decline since 2010 of 44 minutes. In the same year, three main cable