This should result in higher equity prices. Not only will the baby boomers invest their own personal dollars. The parents are savers. They invest in low return fixed income securities such as certificates of deposit, homes, and fixed annuities, life insurance cash values or bonds. As the boomers inherit these savings, some dollars will go to estate tax bills and toys.
Growth stocks are the comfort zone for baby boomers.
There is no real alternative to our stock markets as an investment vehicle today. Fixed income products do not allow for an early retirement. Fixed income products have not kept up with inflation for the last twenty years. They are not flexible, and they do not earn the investor a better standard of living. Our current generation expects flexibility as well as good return on dollars invested.