Vanguard has issued a report debunking notions that retiring baby boomers will hurt equity markets.

In “Baby Boomers and Equity Returns: Will a Boom in Retirees Lead to a Bust in Equity Returns,” the report’s authors contradict conventional thinking on the topic, saying that ownership of U.S. equities isn’t restricted to U.S. investors of a certain age. It is a global marketplace, they say, so assertions that the market revolves around one specific generation of people is short-sighted.

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