Food for thought:
BOSTON (Reuters) – U.S. financial advisors are due for upheaval as baby boomers, controlling $10 trillion in assets, reach retirement age and shift their investment priorities, said a senior executive at asset manager BlackRock Inc. Baby boomers will move the industry’s main client goal from one from accumulation — investing in assets that create the most value over time — to one of “decumulation,” said Frank Porcelli, who heads U.S. retail for BlackRock, at the Reuters Global Wealth Management Summit in Boston. “The questions won’t be, ‘How did I do against the S&P 500?'” he said. “It’s, ‘Can I meet these liabilities?'”
You can’t make a trading decision off this, but it’s not good news if you are 25 and believe in buy and hold.