Final answer:
Baby boomers are less likely to purchase high-risk investments due to their preference for financial security and stable, low-risk options as they approach or are in retirement.
Step-by-step explanation:
Baby boomers, the generation born between 1946 and 1964, are currently in their late 50s to 70s. When it comes to purchases, they are more focused on maintaining their health, vitality, and financial security as they age. Given this, and considering their approach to life and how they differentiate from previous generations, baby boomers would be least likely to purchase high-risk investments. This is because as individuals near retirement or are already retired, they typically shift their investment strategy towards more stable, low-risk options to protect their savings rather than seek high-risk ventures that could potentially diminish their nest egg.
Baby boomers are known for their desire to maintain an active and youthful lifestyle, which drives the market for goods and services like personal trainers, age-defying cosmetics, and products to improve memory. As highlighted by Shaw, this is an age group that is driving innovation in the medical industry to support their active lives. Additionally, when comparing the investment strategies of different age groups, a 30-year-old might be inclined towards more aggressive, high-risk investments as they have a longer time horizon to recover from potential losses, while someone who is 65, typically a baby boomer, is more likely to be conservative with their investment choices.