In the
Media

Some studies suggest that 45 percent of the Baby Boomers have no retirement savings, while 28 percent of those who have started saving have less than $100,000 put away. Consequently, many Americans now living in retirement or approaching that season are looking for ways to cut back on their expenses.

Effective retirement planning pays close attention to the client’s unique needs. It considers every nuance of the client’s lifestyle and the lifestyle they seek in retirement.

We have all seen or heard about the “magic number” that Americans need to achieve when saving money to live comfortably in retirement. Recent surveys from Northwestern Mutual, Charles Schwab and others have shown the number to be anywhere from $1.5 million to $1.8 million. Those numbers have steadily been growing over the years.

It should be no surprise to anyone that the financial landscape laid out before Gen Z differs wildly from that of previous generations. Gen Z’s current financial situation has been shaped by unique challenges, including an uncertain and ever-shifting job market, rising inflation, fluctuating interest rates, and the massive rise in education costs.