Baby boomers collectively represent nearly half, or 44%, of the affluent investor population, and as such, are justifiably a group of great interest to credit unions and other financial service providers.

Cogent Report has been analyzing the differences between older and younger boomers for years, with a particular focus on their attitudes and behaviors toward investing and retirement planning. Our research has uncovered important differences between first wave boomers ages 58-67 and second wave boomers ages 49-57, offering insights for financial companies seeking to build and maintain relationships with this generation of investors.

Understandably, many of the differences we see between first and second wave boomers are driven by life stage. Over half of first wave boomers are already either fully (48%) or semi- retired (9%), while more than two-thirds of second wave boomers are employed full-time (60%) or part-time (7%) outside the home. The younger boomers are more focused on saving, particularly for retirement, while their older counterparts are facing the challenge of living in or approaching their retirement years.

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