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According to US census data, by 2050 people aged 65 and over will make up more than 20% of the total population. In absolute numbers, this group is set to double over that time span. As baby boomers have started to retire since 2011, income has increasingly taken centre stage when it comes to investing. People in this category are relying more on their portfolios to finance consumption, especially given the uncertain sustainability of the pension system in the framework of high public debt levels.
The quest for income, however, comes at a time when its traditional sources are increasingly drying up. Inflation has declined steadily over the past three decades and “lower for longer” monetary policies are deemed necessary to re-invigorate economic growth. Although 10-year...
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