Mike McGinley

So We Find a Bottom - Then What?

Good article. I run a small advisory firm in Phoenix and was shaking my head when Dennis Gartman was discussing on CNBC the awful effects of boomers continually selling stocks over the next several years to fund retirement. I have a lot of respect for Gartman but I think this common belief misses the boat. The fact is that most boomers with substantial wealth will always maintain a balanced portfolio with lots of different asset classes. They will probably maintain this until the day they die (at least that is what I recommend). In my opinion, liquidations are a small part of the story.

Boomers without a decent size portfolio will probably work for a longer period (which is a good thing all around). Most of them cannot afford to spend 30 years in retirement and, as such, most will not do so.