Canadian baby boomers are concerned about caring for their parents and financially assisting their adult children, according to a Scotiabank study.
Your boomer clients are retiring, so they’re going to be spending the money in their portfolios.
Your boomer clients are retiring, so they’re going to be spending the money in their portfolios. Most clients need to stay invested—and do well—if they’re to meet retirement spending targets. But some can’t handle the risk needed to fund all their lifestyle goals. You’ll be the one who delivers this news. Here are some strategies for making the message click.
In broad strokes, boomers have spent much of their lives embracing risk. This generation was one of the most entrepreneurial, allowing many to accumulate substantial wealth. They embraced professional advice to manage their personal finances, and all was supposed to be well as they passed into retirement.
Advisors have four main types of clients.
Staying in their own homes and paying for home care is the most appealing option for 83% of boomers heading into retirement, according to an RBC poll.
The baby boomer market will be worth US$15 trillion by the end of the decade, but many big companies are missing their chance to cash in.
Longer life spans mean retirees must do more with less.
Millennials are starting to invest for the future at a much younger age than their parents' generation, undeterred by higher tuition costs, reports of shrinking job prospects and higher housing prices, according to the TD Investor Insights Index.
One-in-five boomers admit they’d put their own financial security at risk to help support their adult children, finds a TD study.