Who are the boomers?:
- There are approximately 78 million boomers, or individuals born between 1946 and 1964, and this generation is approaching retirement.
- Boomers will be on the receiving end of a multi-trillion dollar transfer of wealth, which creates opportunity for financial and insurance agents.
- Boomers and current retirees view retirement from very different perspectives, as many boomers expect to work longer or retire to a more active lifestyle.
- Current levels of retirement savings may not be enough for many boomers to afford adequate health care or replace income at desired levels, and prevailing wisdom says we will see demand for long term care policies and annuities rise as a result.