Millennials, Gen Xers, and baby boomers face different challenges in pursuing retirement goals. This week, Craig Siminski, of CMS Retirement Income Planning, shares an article offering strategies to help address them:
Generational disagreement is a constant of family life, but a recent survey found that millennials, Gen Xers, and baby boomers agree that saving and planning for retirement is a top financial goal.
When it comes to pursuing that goal, however, each generation faces a different set of challenges. Of course, every individual is different, and there is no simple story for a whole generation.
Here are some basic challenges and strategies to address them —
Many millennials entered the workforce during the Great Recession, which gave them a slow start in finding well-paying jobs. About two-thirds of millennials work for employers that offer workplace retirement plans — similar to other generations — but only a third actually contribute to a plan. Many are ineligible to participate in their employer’s plan because they…
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Craig Siminski is a CERTIFIED FINANCIAL PLANNER™ professional, with more than 21 years of experience. His goal is to provide families, business owners, and their employees with assistance in building their financial freedom.
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