How Generation X Can Overcome Being the Financially Neglected Middle ChildBTA Advisory Group
I really like the attached article. Many of the people I meet in my practice are struggling to plan for retirement and feel their situation is hopeless. The quote the author makes gives hope with the admonition of start now:
You still have time to get your retirement game on, putting away as much as you can to catch up over the next few decades.
The article suggests and list many of the places a person can go to get help to make planning for retirement manageable in the middle age years. Everything from employer sponsored financial wellness plans to on line calculators and of course your friendly neighborhood employer sponsored retirement plan financial advisor. We’re here to help.
One thing the author doesn’t say, which for many is actually the elephant in the room, is that you have to make some tough choices about the help you give to your parents and children. Some delicate and tough decisions and conversations have to be made and had. Getting yourself ready by changing your mindset about who you are and what responsibilities you have to family can be daunting but in many cases, necessary.
However, in the long run, if those conversations occur everybody can win. Children won’t be saddled with the same sandwich situation there parents are in and generation x maybe able to develop creative ways to help/serve their “boomer” parents in ways that preserve dignity for all.