As the baby boomer generation hits retirement age in large numbers this decade, there are a number of potential ramifications. One of the loudest warnings I’ve been hearing for a number of years now is how boomers will destroy the markets as they sell out to fund their retirement.

Here are my thoughts on this risk.

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There are 73 million baby boomers in the United States. By 2030, this entire generation will be age 65 or older as roughly 10,000 boomers are reaching this standard retirement age on a daily basis. In the year 2000, just 12% of the U.S. population was over the age of 65. By 2030, that number will nearly double to more than 20%.

This wave of retirees offers both challenges and opportunities for the financial services industry. Many of these retirees will require advice when it comes to spending down their portfolios; deciding when to take social security; dealing with estate planning, healthcare needs, and tax strategies; and designing a fulfilling post-work life.

The surge of baby boomer retirees will also present challenges for the financial markets. The baby boomers own the bulk of stocks in this country, which makes sense since they have had longer to accumulate financial assets than younger generations. But this fact troubles many people, who worry that once baby boomers go to sell their stocks en masse, the market will crash.

Here are some reasons these fears are overblown.

Many boomers are unprepared for retirement

According to a report from the Stanford Center on Longevity, one-third of baby boomers have no money saved in retirement plans. And for those who do hold a positive retirement balance, the median account value is just $200,000.

When combined with social security and potentially some pension income, many retirees will be able to make things work in terms of keeping up their lifestyle. But many are woefully prepared financially for a retirement that could last two, three or four decades in some cases.

Therefore, many boomers will be forced to work longer. The fact that people are living longer means this shouldn’t come as a surprise, and this fact will likely push back stock selling for a large percentage of boomers.

Stock ownership is concentrated

One of the reasons inequality has continued to worsen in this country is because not enough people hold financial assets. The stock market has been a wonderful money-making machine over the past 10 years but that doesn’t help if you don’t participate.

It’s estimated that the top 10% of households by wealth hold close to 85% of the stocks in the U.S. (which is up from 77% in 2001). This concentration of wealth means most of the stocks retirees hold won’t need to be sold. They are more likely to be passed on to the next generation.

Investors have other assets

Considering the low levels of interest rates and high recent returns in the stock market, you would expect the bulk of money in investor portfolios would be allocated to equities. But that’s not the case.