Money At Risk: Retirement Stats and What to Look For

Many times people ask me: Franklin, does money buy happiness?

I tend to respond: Gosh, never, but it sure as hell buys you the boat to get the island called happiness. 

Retirement is a tricky question, it can mean many things to many people. The shades of color and joy varies from human to human. Nonetheless, money is the bedrock of retirement. Without liquidity, the type of wisdom that comes from a prolonged yoga session just won't be fully realized. Let's look at some key statistics and demographics:

First, the baby boomers vs. Gen X:
There's too much emphasis on millennials. They're just starting out and they are not the ones inheriting the massive "generational wealth transfer" issue. That problem, to the chagrin of many 20 year olds, will be the Gen X'ers - those aged 30-49. (Personally, I fall closer to Gen X, I'm old and missed too many boats in my lifetime already). See here: 

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The key issues driving the conversation between Baby Boomers and GenX are: 

  1. What do I do with wealth transfer issues, cost of living going forward (Baby Boomer issues), and healthcare costs/elderly care (both GenX and Baby Boomers)?
  2. Tax implications regarding generational wealth transfer; am I properly hedged with the appropriate financial structures for my family? 
  3. How is my portfolio relative to my holistic view regarding my beneficiaries and those that will continue to rely on this portfolio?  

Just as well, HNW family assets are rising. This means that there are greater life changing and transitional planning that will be taking place in the near future. The concerns regarding net wealth is not as simple as beating market returns. When considering a financial advisory firm, their technology, operations and general wealth management systems should help a family manage, track and deliver on the entire households (looking at things from a holistic view), financial goals and generational plans. 

Email me to discuss how our firm could help you:

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