Do Stock Brokers Need Help to Advise Boomers on How to Invest their Money?

Do stock brokers and financial advisors need help in preparing to advise baby boomers how they should invest their money as they plan for retirement and retire?  Well, Bank of America Merrill Lynch apparently thinks so. According to a report on today's "onwallstreet" website, Merrill has retained a gerontologist, to assist in preparing its advisors to deal with the aging population in America, who are customers of Merrill. For those of you unfamiliar with the term, a gerontologist is a person who is trained to study the social,psychological and biological aspects of aging.  It differs from geriatrics which is the medical study of aging.

The gerontologist named by Merrill, Cynthia Hutchins, has a degree in gerontology from the University of Southern California (USC) and has worked for some 28 years in the financial industry and for 15 years with Merrill in various capacities.. She was named by Merrill  to train Merrill's 15000 advisors on how they can better assist clients with age-related issues such as planning for retirement , use of resources in retirement as well as other health and finance issues, as well as issues arising from things such as dealing with adult children who return home and grandparents raising their grandchildren

Sounds like it might be a good idea.  Let me know what you think.

Not Just for Boomers ---But for Everyone

The title of this blog is, of course, "Not Just for Boomers."  And that is exactly, what it is intended to be. I am a baby boomer myself, but the material in this blog is not limited to baby boomers. It is really intended for everyone who has an interest in an eclectic mix of travel suggestions, help with your finances and health and exercise issues. Over the last almost two years, I have written almost 200 posts, all original, and covering material from a Mediterranean cruise to the many benefits of meditation and mindfulness.I hope what I have written has been helpful to you.  And no, I am not shutting down the blog. On the contrary, I expect to keep on going.  I appreciate your support, but I would ask you to remind your friends and not just boomers, that this blog is "Not Just for Boomers--But for Everyone."

Who Says Baby Boomers Want to Downsize?

It is a common place misconception that boomers want to downsize their lifestyles, especially by moving into smaller houses. The reality is quite different. As explained in a recent article in the CanadianFinancial Post,most boomers are actually moving into condos that are almost the same size as their prior residences.  While the survey was conducted in Canada, I think the same trend is taking place in the U.S..http://business.financial-post.com/2013/09/11/national-household-survey-boomers-in-no-rush-to-sell-homes-embrace-condo-living/

Baby Boomers: Social Security and Medicare Are Going to be Okay

The Sunday New York Times contains an interesting opinion piece by columnist, Paul Krugman, entitled, "The Geezers are All Right." http://www.nytimes.com/2013/06/03/opinion/krugman-the-geezers-are-all-right.html?hp.  Mr. Krugman is a professor of Economics and International Affairs at Princeton University and the winner of the Nobel Prize in Economics in 2008. I highly recommend that you read the article if you are concerned about the future of your Social Security and Medicare benefits (and, quite frankly, who isn't?)

The article points out that there is no real need to cut benefits now for anyone since for the time being there is no shortfall.  As Mr. Krugman argues quite persuasively, "[t]he risk is that we might, at some point in the future, have to cut benefits; to avoid this risk of future benefit cuts, we are supposed to act pre-emptively by...cutting future benefits. What problem, exactly, are we solving here?"

Mr. Krugman also points out that the cost of health care has actually appeared to flatten out recently and proposed cuts in Medicare may not be necessary if other measures already in place and soon to be in place, including Obamacare, are fully implemented.

It appears that a lot of the hand-wringing and doom and gloom about these vital social programs is just plain unwarranted. This is not to say that nothing should be done to improve these programs, but cutting benefits now for anyone is not the answer.

I am  pleased to let you know that my e-book on how to negotiate better deals when buying a car or a house is now available on Amazon for Kindle. The Baby Boomer's Practical Guide to  Every Day Negotiations http://www.amazon.com/Boomers-Practical-Guide-Negotiations-ebook/dp/B00BRPVH4U/ref=sr_1_1?s=digital-text&ie=UTF8&qid=1370283473&sr=1-1&keywords=tony+basinski