5 Effective Ways for Baby Boomers to Protect Their Wealth

Most baby boomers by now have retired. They are now living and relying on their wealth which they have accumulated over the working years. Baby boomers still have a long way to go and financial freedom is definitely featured prominently in their mind. It is essential for baby boomers to preserve their wealth as long as possible. Here are five important things you should consider:


1. Safety: Where do you keep your money now? Make sure that it is safe and your capital is well protected and secured.

 2. Yield: Is your investment providing a stream of passive income for you and is it tax-free? Your wealth needs to provide an ongoing income so that it will last you as long as you live in your golden years.

3. Liquidity: Can you withdraw your money at short notice. Your wealth needs to be fluid because unexpected expenses such as getting medical attention is an emergency situation.

4. The rule of 100: This is a very simple rule. Take 100 and minus your age, say, 65, you get 35. It means you should only expose 35% of your wealth to risky investment. 65% of your wealth should be kept in fixed deposits, bond funds, retirement accounts or insurance.

5. Avoid greed and scams: Do not be gullible and believe in quick, easy and high returns. There is no free lunch. It is also important not to fall into a scam like Granny scam.


Be vigilant and be happy and carefree in your senior years.