How Smart the Millennial Generation is Saving for Retirement

Does it surprise you that the Millennial Generation (1980-99 birth dates) is a bigger generation than the Baby Boomers? In the United States, we have 76 million Baby Boomers and 87 million Millennials. And here’s another amazing fact. What do you think the average age in the U.S. is? Would you believe it’s 22? These facts, a conversation with a Millennial, and two reports from Dimensional Fund Advisors led me to these conclusions: 1. Millennials, now ages 15-34 are good but not genius retirement savers 2. Planning retirement savings isn’t any more critical than planning retirement consumption 3. The smartest savers, Millennials and other generations, […] Read more »

High Net Worth Individuals: Best Practices

learn how to maintain wealth

Becoming a high net worth individual (HNWI) is one thing; maintaining that wealth can be quite another. Here are some simple but often overlooked best practices for maintaining wealth.  1. Think why before how Don’t even think about how to grow or maintain your wealth until you understand your goals, comprehend your long-term needs and put your situation in context. Think about your financial “pain points.” How important is it to ease that challenge or pain? How will making a financial move affect your family? Why will making a move make you better off than you are today? 2. Understand how all your finances fit […] Read more »

4 Surprising Insights about High Net Worth Retirees

wealthy retires can struggle in retirement

Wealthy Retires Can Struggle in Retirement Did you know that only 13 percent of workers are very confident of having enough money to live on when they stop working[1]? That percentage is low even for people who have a high net worth. So let’s reveal some truths about retirees and workers who will soon face retirement. Insight #1: Wealthy People Often Struggle In Retirement I’ve seen it many times. Some wealthy people fail to understand the serious financial challenges that even their high net worth can’t protect them from when they retire.  They don’t see the many factors that can destroy financial comfort for anyone: […] Read more »