Seniors Summit

Securities and Exchange Commission has conducted its first every “Seniors Summit” that investigated how regulators and others can better coordinate efforts to protect older Americans from investment fraud and abusive sales practices. Here are the quotes from the press release.

"Today's older Americans are living longer and healthier, and therefore investing more, than any previous generation. That trend toward longevity is expected to continue. As a result, older Americans will be more vulnerable to financial fraud than ever before," Chairman Cox said. "Those who would rob older Americans of their retirement nest eggs steal more than hopes and dreams - they erode the trust on which our entire financial system and economy depend. That makes protecting seniors an urgent priority."

This site provides all of the details of the event. Especially interesting is this report that gives an analysis of the ownership of mutual funds in the US by age. This shows the age group 60-69 having an eight times higher mutual fund ownership than the under-30s.Dick Stroud