Record Boomers retiring in the pandemic

A lot of the Baby Boomers got cut back or even laid off during the pandemic. Retirement plans were already on a lot of these Zoomers minds. Over 30 million of them. Now that’s a lot of Zoomers. And that is in the US alone. This in not accounting for Canada, UK, Australia and the Euro Zone. There is no statistics out for these countries but you can imagine it will be in the hundreds of millions. So what effect will this have on the stock markets? What about the Real Estate markets’ in the coming years? Record Boomers retiring in the pandemic.

So what are the experts saying of the consequences of the mass migration.

Job losses and the pandemic may be to blame according to the finance experts at PARCO. If you retired this year or are about to, now’s the time to take a serious look at your money.

Experts say consider reallocating your asset classes to something a little more conservative.

Look into life insurance. It doesn’t have to be expensive as long as you shop for the best deal through multiple carriers.

Make sure you are set up for guaranteed income.

If you don’t trust the stock market fluctuations, you could take part of that money and buy an annuity that could payout for the rest of your life.

Stock Market Teetering

The stock markets around the world just might be on the brink of a massive correction. Once the boomers start moving their money out of their 401 ks and into safer and more secure income funds. Trillions could start leaving the stock market also as the new Biden administration starts taxing the big guys. This will drain profits from the top end which will effect stock evaluations or profits. Once profits go down the markets will also go down as trillions pile out of growth or aggressive ETFs. Certainly the millions of elderly boomers are going to protect their life long nest eggs by abandoning risk.

One must look at what these boomers are going to be spending their trillions on. When economies open the travel industries are going to explode. This might be one area to look at now as the segment has suffered lately due to the travel bans. Once these restrictions are removed the demand will be huge and many companies in this industry have been downsized. This will drive up prices for travel as supply will be limited and take years to catch up. Especially with jobs returning to other areas such as infrastructure and the new green economy.

Restaurants will become very expensive as many have closed for good. Also it is going to be hard to find workers once the economy starts to churn. As the boomers drove the pas 30 years they will take over the steering wheel for the next 30. Care homes across the developed world will be needed. Thousands of them. All these millions of Zoomers are going to need a place to live and people to look after them.

Governments are going to have to step in and reduce building restrictions around the world. High density units are going to be needed everywhere to house these retirees. One problem remains though. Who is going to build them.