As we all know full well, the first boomers have begun hitting retirement age and will be doing so over the next 20 years. That’s the potential for millions more clients to hit the “senior” market and the target of much of your practice.
Recently, the Institute for the Future and MetLife Mature Market Institute released data from their joint study, “Boomers: The Next 20 Years, Ecologies of Risk.” The results could be very important to financial advisors who will continue to grow their business over the coming years.
“With the world focused on the collapse of financial markets, it is especially important to understand the big picture that boomers face over the coming decades,” says Kathi Vian, Ten-Year Forecast director for the Institute for the Future. “They have crafted complex ecologies of risks and resources throughout their adulthood, and they may well manage those ecologies with surprising skill and sometimes surprising innovations as they age.”