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Retirement PlanningMany of you who are boomers and Generation “Xers” face a significant retirement income shortfall and the Center For Retirement Research indicated that retirement will be much more difficult for Boomers than it was for their parents and grand-parents. You see, many boomers are living in a golden age that will fade as you get closer to retirement age. 51% of Baby Boomers are projected to not be able to maintain their pre-retirement standard of living in retirement. Here’s something else you might find interesting. Late boomers are more at risk of not having enough money for retirement than early boomers.

There are several reasons why boomers and those belonging to generation X will be retiring in a substantially different environment than previous generations. First, they are living longer. As the life expectancy continues to rise, you will need more money to last through retirement than ever before. The weak condition of the Social Security trust fund is another reason. Finally, most boomers with pensions have made mistakes throughout the years, bringing the median value of 401(k) plans approaching retirement to just $78,000.

Your Safe Money KitWhen you factor in the rising out-of-pocket medical costs for retirement aged individuals, things start to look pretty grim. The only way to offset these risks is smart decisions with the help of an experienced financial planner. Don’t forget to get a safe money kit. We can help you plan for a comfortable retirement.