Turning 70 1/2-ers are Unique Financial Planning Prospects

These turning 70 ½ prospects are not only great prospects for financial advisors, but also for charities and foundations looking for legacy gifts.

The first of wave of baby boomers hit this milestone last July. Those oldest boomers, born at the start of 1946, turned 70½ in this summer and will be followed at the rate of 10,000 people per day for the next 18 years.

Just a footnote on the Turning 70 1/2. This is the time that people who have not put their plans in place get serious about their retirement strategies. They start to think about legacy, charitable giving and business succession planning. They must also consider how to actually handle their Required Minimum Distributions. After all, failure to withdraw the RMD on time could result in a 50 percent penalty.

Call our office at (800) 771-3282.  We can tell you more about our Milestone Birthday programs, Data Appending, and monthly hotline lists of new homeowners and new parents.

NOTE:  if your firm has young partners trying to make their own book of clients, consider our New Parent list. This might be a great list of financial planning prospects for them. Have them read this article about lead nurturing parents of new babies.

BTW:  Have you ever used the 30 Minute Financial Report card as an offer in your direct mail?