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I've Earned It and I'm Keeping It!
Selfish? Me? That's not how some boomers would see it. Many have already made it known that they will be spending their remaining money on themselves and enjoying the golden years without thought to providing an inheritance to their children. According to this Los Angeles Times article, a growing number of boomers realize that they have built businesses, careers, and assisted children through all levels of school, often at the expense of personal health or relationships...and that they have had enough of the "giving" mantra. Now..."it's all about me!"
Working Out with a Retirement Coach
So, you've worked hard for 40+ years...been achieved status and made enough money to retire comfortably...and what do you do when you reach retirement age? Hire a retirement coach! Doing retirement-like things might be fun, at least for awhile, but how do you let go of being the boss, having control, a schedule to follow, and a card to hand out at cocktail parties? How do you "do" retirement? This article provides a number of scenarios of how retirement coaches are helping people think about their future in a framework that fits their past.
Older and Richer
Marketers who follow the traditional thinking that older people spend less money, have little interest in new products, and have brand preferences set in stone are missing out on a gold mine. Today, a cadre of 77+ million boomers are trampling conventional marketing wisdom on their way to purchasing new technology, new cars, and whatever else fits their active, independent lifestyles. Boomer spending is leaving younger generations in the dust. To find out how to nurture these aging big spenders, check out this article. Perhaps, the next article should be about how to become one of these big spenders!
IRAs, Annuities, Wills, Estates, Powers of Attorney… there are many financial terms to know. Here are a few essentials as you begin to explore your financial future.