Financial Advisors: Economic Downturn Hitting Boomers Hardest

“The current economic downturn has hit at a bad time for people who are in their late 50’s or early 60’s and haven’t prepared for the future,” says Philip E. Harriman, CLU, ChFC, past president of the Million Dollar Round Table (MDRT), an international, non-profit association of more than 39,000 financial service professionals. “With a simultaneous strain on employment, home values and investments, these Boomers are being hit harder now than generations older or younger. If there is a silver lining in this dark cloud, perhaps this is a wake-up call for Boomers to get busy managing their financial well-being.”