If baby boomers are that heavy into stocks at their age, they deserve to get screwed.
Baby boomers may not be heavily into stocks, but they might have some mutual funds or favorite stocks that they have held onto over the years because they’ve always done well. My dad is almost 90 years old but still holding on to his Caterpillar stock. CD’s and savings basically pay almost nothing, so if you want to keep up with inflation, you have to take a little risk, at least.