Wealth Management: The Boomer Market May Be Smaller Than You Think

Almost three out of four members of the Baby Boom generation are virtually broke, judging by a GAO study cited in this Marketwatch column.

Oddly enough, that could be good news for the stock market:

Boomers, says the GAO, will not sell their assets in such a way to cause any major, or minor for that matter, decline in stock and bond prices.

The reasons are many and in some cases point to other and different problems that must be addressed. For one, boomers don't have any assets to sell, the GAO reports. And of the small minority of boomers that do own assets, it's unlikely that they will need to sell those stocks and bonds to fund their retirement. The top 5% of boomers control 52% of the financial assets held by their generation.

The GAO doesn't think much of Boomers' financial literacy, either. You'll find the study here.