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Baby Boomer Articles - Money and Retirement Money and Retirement
By our sheer numbers and interests, Baby Boomers are destined to change retirement forever. Many of us will continue to work; others will "downshift" or move to the Sun Belt. Find help with your dream here.
Baby Boomer Money 101

According to the summer issue of the Putnam Investor, there are five secrets for investing success:


1. Start early. Not a day goes by that our local newspapers don’t have an article about Baby Boomers and Retirement (ta da). It’s never too early to begin planning for your investments and retirement. This is one instance where time is on your side. The longer your money is invested, the greater the opportunity it has to grow.


2. Know how much to save. The magic number you need to have to retire depends on your age, your needs and what your future plans are. Remember that you will need income in the future for different kinds of expenses such as living expenses (utilities, taxes, health care costs, insurance) and those that you will want to be able to afford so you can enjoy yourself (travel, hobbies, volunteering, etc.).


3. Determine the right mix of stocks, bonds and short-term investments. Investments with the most potential for return are often the most risky. Your level of risk-taking may depend on your age or other factors.


4. Diversify to broaden investment opportunities and minimize risk. “Spread your investments among the basic categories…but also keep in mind that it’s important to hold a mix of investments within each category.”


5. Work with a financial representative/advisor. This may be the best advice of all. Being able to discuss your plans and ideas with a professional will give you the confidence you need to make financial moves to better your portfolio and help prepare you to retire.


For more information, visit www.putnaminvestments.com.


By Teresa K. Flatley



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