There are 76 million Baby Boomers in America with 10,000 turning 65 every day, and many are concerned about outliving their money, says Cynthia Hutchins, Director of Gerontology at Bank of America Merrill Lynch. Hutchins says medical advances have enabled people to live longer, which means retirement planning is more critical than ever. She says Boomers may have to work longer and should seek out a financial planner to establish a strategy, especially regarding long term healthcare since all those costs will not be covered by Medicare.
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