I want to draw your attention to a couple of special features in this issue and alert you to something coming in a few weeks.
Our new monthly section, Advising Boomers, is making its debut in this issue.
Many of the subject areas in this new section–such as long term care, tax planning, health insurance and income planning–are familiar to National Underwriter readers.
What is different in Advising Boomers is that every story and tip is geared to helping advisors focus their energies and expertise on the problems and opportunities of the biggest generation in U.S. history.
This generation, some 76 million strong, would demand attention simply because of its size. But our research indicates the boomers merit attention for more reasons than simply how many there are.
For one thing, the baby boomers will be largely responsible for their own retirement income and security, with most not having the luxury of defined benefit plans to depend on. Many boomers are ill-prepared for this challenge. They are not saving enough and they have misconceptions about what the government is going to do for them. In other words, they need the advice of financial professionals–and they need it bad.
The boomers are also members of the so-called Sandwich Generation. Having to take care of aging parents and school-age children at the same time presents a unique set of challenges and for advisors, unique opportunities.