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The Same Old Financial Plan Won't Work for Today's Baby Boomers

by Joseph S Yoon, CFP®, CIMA®

There are a number of things I disagree with in this article, but it is understandable as the author is CEO of a firm that is looking to be the “all-in-one” solution to the retirement problem.

Yet, I did think the article was thought provoking and worth a read.  The most important items that came out of it for me were:

  1. We are dealing with a retirement shift from the guaranteed pension generation to the self-directed 401k generation
  2. People are not thinking enough about their longevity from a financial or health perspective (and how the latter can massively impact the former)
  3. Risk is not limited to, or as simple as just investment risk.  People need to think of risk beyond just the loss of investment capital (as none of us like to be down in the market).
  4. It is important for all members (not just the financially savvy one) to be involved in the financial planning for the family.

 

Take a peek at the article and let me know what you think:

Same Old, Same Old Won't Work For Today's Baby Boomers

 

Securities offered through TD Ameritrade Institutional Services located at 7801 Mesquite Bend Drive, Suite 112 Irving, TX 75063-6043. Investment advisory services offered through AOG Wealth Management, Inc. AOG Wealth Management, Inc. is neither an affiliate nor subsidiary of TD Ameritrade Institutional Services.

Category: Wealth Management, Asset Management, Blog, Financial Advisor, Financial Planning, Investment Management