Just because boomers are getting older doesn't mean they are leaving the scene. They are not going to be the generation that retires quietly to old age ghettos (aka 'retirement communities'). In fact, savvy businesses are recognizing that boomers are a force to be reckoned with.
Life expectancy in the United States has increased in the last century by nearly 30 years and continues to grow each year. One of the consequences of this transformation is that older workers are available to remain in the workforce longer.
How do we decide what percentage of our income to earmark for retirement? Undoubtedly we think about the bills we have to pay and the medical expenses we might incur. This is a solid start -- but how many of us are thinking about the lifestyle we hope to have and the unpredictable realities that we may face during our retirement?
March Madness is upon us, and while college basketball fans across the country are busy trying to avoid any bracket busters, this is the time to focus on your tax bracket as well.
For years, financial wolves have been cloaked in trusted adviser clothing - masking their real status as self-interested brokers who don't have your best interest in mind.
Are you rich? Pause for a moment and really consider the question. Does it make you feel uncomfortable to consider yourself rich? No matter how much money we have, most of us avoid classifying ourselves as rich.
Financial Planning is not a one-time set it and forget it event, it's a process that must be reviewed for changes over time and adjusted.
If you've been abroad for any length of time, you automatically become an information resource for later arrivals. And you end up saying the same things over and over and over.
We consider ourselves extremely lucky that we are both interested in managing our finances without an expensive adviser and wonder why so many people whether single or attached don't. With many couples it is usually one who is trying to get his or her spouse interested, or the differences are similar to ours, one is overly aggressive and the other is overly conservative.
The question is, if Americans are so diligent at doing their research, crunching the numbers and making decisions for their tourney brackets, why don't they put in that kind of effort for retirement planning? After all, the stakes are much higher.
Encore careers are perfect opportunities for boomers to combine what matters to them with what works for their business. Exercise studio owner Leigh Hometh found both personal and professional satisfaction through a career reinvention that has provided meaning and purpose in her life.
What activities are going to keep you active, engaged, socializing and busy? Think about your plan for how you will spend your time now. Talk about it with your spouse or partner so you are on the same page.
Procrastination can kill you when it comes to saving. Putting off saving, investing or planning for the future can be detrimental to your financial health.
Wall Street associations and lobbyists are fighting the DOL and SEC 'tooth and nail' to avoid higher ethical standards for hundreds of thousands of stockbrokers who sell investment products to current and future retirees.
I refuse to sit idle while others attempt to dismantle Social Security. I will not surrender to the fuzzy math of the anti-government crowd who think deregulation and privatization is a panacea for all ills -- real or imagined. I have a simple proposal that would keep Social Security solvent without slashing benefits.
As I reflect back on the year, the philosophy I took at the time of transition -- life is what you make it -- has proven to be true. Importantly, we have learned together and grown as a couple. I believe the lessons are worth sharing.