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This detailed study explores the impact of the global financial crisis across multiple countries, with a particular focus on Baby Boomers, those who are at or close to retirement. The article provides detailed sizing of this segment across key countries, explores asset allocation, and looks at the actual declines in portfolios vs. the market and public perception driven by the media. The conclusion: the people who had the most money suffered the steepest portfolio declines--however most of these declines have been recouped. The lasting impact of the credit crunch will be a slower burn--increased taxes, elimination of company benefits will result in a large portion of the population having considerably less savings.