Boomer execs: What they're doing wrong

Investment advisors at MullinTBG have identified five mistakes executive pre-retirees tend to make. The number one mistake listed by the firm is trying to invest without a professional’s guidance. As some companies eliminate their defined-benefit plans, boomer investors “should turn to online financial planning tools and/or professional financial advisors to help them assess their risk tolerance, recommend asset allocations, and establish short- and long-term goals.”

Attempting to time the market is another mistake boomer executives make when investing. Boomers who haven’t retired yet should stay focused on long-term investments, and keep their short-term investments online to handle market fluctuations.