Retirement Planning Life Stages

No matter what stage of life you are in, your current and future financial well-being should ALWAYS be in your plans. Taking full advantage of your workplace retirement savings options plus utilizing the help of a professional wealth advisor can help you build enough resources to enjoy the retirement lifestyle you want.

Baby Boomers: Born 1946-1964

You are at or nearing retirement age. Boomers are breaking boundaries and re-defining retirement for the generations to follow.

• Have you accumulated enough assets to comfortably supplement Social Security?
• Do you know how long those assets might last?
• Are you confident you are managing your investments to preserve what you’ve built?

Generation X: Born 1965-1980

You have limited time left to accumulate sufficient assets for retirement. The temptation to raid your retirement savings to help fund your children’s college or to provide care for aging parents may be very real for you.

• Do you understand the costs of this decision?
• Do you need help prioritizing your financial obligations?
• Are you saving enough now to generate the income you will need for 20-35 years of life in retirement?

Generation Y: Born 1981-1996

Retirement seems far away and may not be on your radar. Statistically, your generation saves better than the one before. But, your mobility often causes small repeated cash-outs from retirement accounts as you move from job to job, leaving little savings as the years go by.

• Time is on your side if you take advantage of it now.
• Aim to save a minimum of 10% (including your employer’s contribution, if available, and any IRA’s or other plans).
• Provide for your future self by including retirement savings in your current budget.

Generation Z: Born 1997-Present

You may not have the obligations of a mortgage or children. This puts you in a prime position to build your retirement nest egg.

• The sooner you start saving, the longer your money has a chance to grow with compounding interest.
• Aim to put at least 5% away for retirement.
• Don’t be tempted to cash out your retirement account if you switch jobs.
• Make retirement savings a necessary expense in your budget.

Investment products not insured by the FDIC. Not a deposit or other obligation of, or guaranteed by the depository institution. Subject to investment risks, including possible loss of principal amount invested. The information provided is for educational purposes only and does not constitute tax, investment or legal advice. Consult a professional wealth advisor to discuss your individual retirement savings needs.