Several demographic shifts are getting the attention of financial advisors and their clients right now. Well before COVID-19 began circling the globe, the Great Wealth Transfer was already well underway.
During the last two years, the pandemic has had a measurable impact on life expectancies. In addition to deaths attributed directly to the virus, the U.S. is experiencing increasing deaths due to multiple causes, with the CDC reporting a year-and-a-half drop in the average American life expectancy.1
The pandemic also spurred shifts in employment and retirement. Along with acceleration in baby boomer retirements, other generations have begun quitting and changing jobs at a higher rate.2Read More