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On July 10, 2005, I wrote you that The Baby Boomers Were Here and on September 1, 2005, I wrote you of the Gift Annuity Survey. Many Baby Boomers, you were told, were worth more than they thought because they did not count their pensions in their net worth calculations. Many have IRAs, 401ks, deferred comp, and regular Defined Benefit pensions where they work.
In the annuity article I told you that 8.4% of the gift annuities were deferred by 60 year old annuitants (average) because retirement might be in 5 years or so and they were at their limit with their pension monies.
Well, those 60 year olds are baby boomers and they are starting to request advice on retirement in a big way. Marty Willis, executive VP for Fidelity says :"our study shows that advisers see the wave of retirement-income -planning business coming, and they are hungry for education and resources to help them align their businesses to ensure their clients achieve success during retirement" He, of course was talking about financial planners, but it could just as well have been planned gift officers with the American Cancer Society.
Our PGOs ought to start receiving special training in retirement planning and meet those 60 year old prospects so they too can help with the coming deluge and in so doing fund deferred gift annuities along with major gifts and legacies.
