Back in the 1980’s, those in the Baby Boom Generation were called Yuppies or even DINKS (Double Income, No Kids). Today, they’re almost to that stage where “retiree” is more appropriate. But as more Boomers find it necessary to work longer to save for retirement, money concerns increase.

Thrivent Financial and Kiplinger’s magazine recently published a stock market performance study on the way Americans in the Baby Boom Generation (those between the ages of 44 and 54) felt about money and their investments. Here’s what the stock study found and how those in that age bracket can approach it.

Money worries – Twenty seven percent of the magazine’s study participants said they worried most about not saving enough for retirement. Whether it be a failure to invest enough or the stock market performance in recent years, this worry was up from the previous generation’s worry about the same subject. Similarly, 45 to 54 year olds who took part in the stock market performance study said losing their job or home were also sizable worries.

Still, an uplifting 15 percent of those surveyed said they don’t worry about money at all.

As for their personal feelings about their finances, 40 percent of stock market performance study respondents defined their personal circumstances as “struggling”. Another 25 percent defined themselves as “worried” while 32 percent said they were either “stable” or “confident.”

A time for giving – While the previous generation was thinking about leaving an inheritance for their children (see our “Family Matters” post), 66 percent of Boomers in the stock market performance study said they were giving to charitable organizations either through financial gifts or volunteer work. However, those who gave were now giving less than they were just two years ago.

Stock market performance may be a factor, but 84 percent of those surveyed said they were giving less than they previously had but had been making up for it by volunteering more (22 percent).

Risky business – In terms of risk tolerance, recent stock market performance and the economy’s continual slump has made 56 percent of Boomers surveyed less willing to take a risk with their investments. At the same time, 27 percent of respondents said they hadn’t changed their portfolios regarding risk in the last two years. Perhaps they can give the other group some stock market performance tips?

Tags: A time for giving, investing4u, Money, Risky business, Stock Market, stock market performance

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