Boomers stand to inherit trillions.

• Position: YOUR LIFE

Baby boomers stand to inherit 10 trillion dollars in the next few years, and women will get the bulk of it because they outlive men by an average of seven years, according to a study from Cornell University, Ithaca, N.Y. "Women already control 60% of the nation's personal wealth--they outnumber men and they are traditionally the shoppers." notes financial consultant Scott T. Schultz. author of The Guide to Closed-End Funds.

"It's sad that, despite the fact that nearly one-third make more money than their husbands and they're starting businesses at twice the rate men are. 38% of women ages 30 to 55 worry they'll eventually live in poverty because they can't adequately save for retirement."

With the first of the boomers hitting 65, the nation will see an even greater number of retirement-aged women holding the country's purse strings. "Many will inherit money and property from their parents or husbands--or both--and many will live another 30 to 40 years." Schultz indicates, citing the Cornell study. "They'll need to invest their money to ensure they have enough to avoid that impoverished retirement they fear, but they--and the nation--have lost confidence in the stock market."

What brokers do not tell clients about, he says. are closed-end funds, which are funds where a limited number of shares are issued--and new shares rarely are issued once the fund launches. Moreover. shares usually are not redeemable for cash or securities until the fund liquidates.

Why is the...