Baby Boomers: 5 Simple Steps For A Prosperous Retirement

Group 1 - The full retirement age for individuals born from 1943 to 1954 is 66, gradually increasing to 67 for those born in 1960 or later [1] - As baby boomers approach retirement, focusing on five strategies can significantly enhance their financial security during retirement [2] Group 2 - Capital One offers an 11-month CD with a yield of 3.90%, while PNC Financial Services provides money market accounts yielding 3.15% with daily liquidity [3][9] - Historical data shows that major market crashes can take decades to recover, with the 1929 crash taking 25 years and the dot-com crash taking 13 years [6][8] Group 3 - Baby boomers should avoid heavy exposure to the stock market due to the risks associated with potential crashes, which could severely impact their retirement savings [6] - Investing in insured deposits and government bonds is recommended as a safer alternative for preserving wealth [7][9]