Baby Boomers have spent decades investing and saving for retirement, so they’re uniquely qualified to share the do’s and do-not’s. From long-term investing to portfolio diversification, people of all age groups can learn from them.
1) Stay invested for the long term: A large majority (92 percent) of retired Boomers say that Americans need to save more for retirement by getting and staying invested in the market. When asked about what they would do in fluctuating markets, only three in 10 (32 percent) would adapt their strategies based on market conditions.
2) Keep an eye on fees: Low fees and transparency really matter to Boomers. Ninety-four percent of retired Boomers want to be able to easily understand the fees they pay, and 78 percent stressed low-cost simple investments to buy and hold for the long term.