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Preconceived notions about the Baby Boomer generation abound, but many are merely myth, according to the third Quarterly Boomer Report from AARP Services and Focalyst, titled “How Well Do You Know Boomers? Counting Down the Top 10 Boomer Myths.”

“Contrary to many common assumptions, Boomers are making retirement obsolete, are very savvy about advertising, and are experimenting with new products,” said Howard Byck, VP of corporate development for AARP Services.

“Within this generation are diverse segments that must be recognized and addressed differently,” added Jack Lett, executive director of Focalyst.

Below, the top 10 Boomer myths - and corresponding facts - according to the report.