Baby Boomers: Financial Confidence and Advice

Boomers Express Confidence in Financial Knowledge

Baby boomers, born between 1946 and 1964, express confidence in their financial knowledge.

Their top piece of advice? "Live below your means."

Financial Legacy and Advice

Boomers have benefited from low interest rates and rising housing prices, accumulating substantial wealth.

However, not all are financially secure.

Baby boomers who avoid discussing finances often cite privacy concerns, while younger generations are more open to sharing financial information.

Steps for Financial Planning

Baby boomers should assess their financial situation thoroughly.

• Evaluate savings, investments, debt, and expenses.
• Consider anticipated retirement expenses.
• Seek professional advice if needed.

Investment Strategies

Boomers heavily invest in stocks and mutual funds.

They hold the highest percentage of their wealth in these investments compared to other generations.