"...Northern Trust studied more than 1,000 households across the country with $1 million or more in investable assets. The company's Wealth in America report notes that aside from financial goals, millionaires in retirement first and foremost seek an active lifestyle.Sixty-four percent of millionaires surveyed said it's important to pursue personal interests and hobbies in retirement, while 61% cite traveling in the U.S. and abroad as a goal in retirement. Enjoying an active lifestyle is important to 53% of millionaires, while a sizeable number (30%) plan to volunteer in their communities and find personal enrichment through continuing education.I'm assuming this is why health care is of such importance to people -- they want to remain healthy to remain active. And I am also going to make the leap and say this is why the stock markets will remain healthy too. The vigorous lifestyle mind set goes part and parcel with a growth mentality rather than a more passive income-oriented personality.If what I assume is true, then there isn't going to be much of an economic slowdown anytime soon as the baby boom generation continues to retire, mostly because they aren't really looking to retire at all.
April 4, 2007
This excerpt from Thomas Kostigan's article on www.marketwatch.com. Interesting conclusion about the effects on financial markets by retirees' active mindsets and lifestyles. However, he fails to take into account the fact that institutional investors who vastly outnumber the individual investors in the stock market. Their mindset is to make money...period.