As retirement approaches, individuals should be wary of overrelying on government funds and the stock market for retirement savings. The article highlights the gradual increase in full retirement age and warns of a potentially overbought stock market, particularly in light of artificial intelligence advancements and volatile stocks like the Magnificent 7. It emphasizes the risks that baby boomers face if they are heavily invested in stocks, suggesting safer alternatives such as U.S. Treasury Bonds to protect retirement savings from potential downturns.
For baby boomers who have enjoyed unprecedented gains over the past 35 years, being overweight to the stock market now is like picking up nickels in front of a bulldozer.
Market veterans and 'hey boomer' professionals have seen this show before, and they know that a significant market downturn could jeopardize hard-earned retirement savings.
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