NEW YORK - As opposed to college planning, which dominated the Baby Boomers priorities 10 years ago, a financially sound retirement, maintenance of their primary residence, preparation for illness and taking care of their parents, are the major financial concerns of this group.
According to data in AXA Financials Nest Egg Study, unveiled Thursday at a press conference here, family income protection is becoming a high priority for Baby Boomers, yet many participants also did not have enough life insurance. Approximately 30%-40% of AXAs clientele are Baby Boomers.
"Most people are putting their spouse at risk," said Mathew Greenwald of the independent research firm, Greenwald & Associates.
The survey results came from 701 people born between 1946 and 1964. The participants had annual household incomes of $75,000 or more. Greenwald & Associates conducted the survey last August. The last time this report was conducted was in 1993.