Gen X Savings Initiative
If you were born between 1965 and 1979, you are in the age group known as Generation X. Whether you love, hate, or couldn’t care less about that label, it does have meaning when it comes to your financial plans. The fact is, if you are Generation X, you probably have less time to save for your retirement than you realize.
You are a sandwich generation, caring for kids, as well as helping to care for aging parents. Both can have an impact on your ability to save money. According to a study by the Transamerica Center for Retirement Studies, the median amount that Gen Xers have saved for retirement right now is $69,000. While that’s not nearly enough, most people in the age range still have time to make a meaningful increase in their retirement savings. However, you need to start doing the right things right away.
The Generation X Retirement Savings Initiative is designed to assist our Gen X-age clients in helping them to save as much for their retirement as possible. The Gen X Initiative involves comprehensive financial planning. Regular calculations are done of your retirement savings contributions along with desired investment rates of return so you can see, in real time, where you stand on the ladder of retirement savings success.