What Happens to the Stock Market When Baby Boomers Sell?

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What Happens to the Stock Market When Baby Boomers Sell?
A reader asks: The “Relentless Bid” of 401ks has inflated stock prices and dampened volatility for years. As the population ages, target-date funds are swapping stocks for bonds, and people have to take RMDs. At what point does this cavalcade of selling drive stock prices down, and become the “Relentless Beg” (or “Relentless Ask” if you prefer)? Or is wealth so top-heavy that this pheno...