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It’s easy to become overwhelmed with information being thrown at you about retirement and personal finance. But finance is just that– personal. Finding the right information for you and The Future You is easier said than done, but it’s important to make time to educate yourself and learn more about the issues that can affect you.

The stories in this week’s installment reveal how finance impacts everyone differently. As you’ll see, there are tough questions that all people – regardless of gender, age and job status – need to ask in order to successfully plan the retirement of their dreams.

1. Are Millennials financially doomed?

Millennials, time is on our side when it comes to saving for retirement…right? According to this CNBC article, we Millennials face more financial constraints than Gen X or Baby Boomers, and time might not be enough to reverse the damage. Taking care of aging parents and dealing with lackluster wage growth and staggering levels of student debt is taking a toll on our financial futures. However, we can reclaim our financial independence, and this article can help!

 2. $13 trillion retirement gap called a gender crisis

We’ve all heard of the gender wage-gap, but how much of an impact does it have on retirement? According to Sallie Krawcheck, a former executive at Bank of America Corp. and Citigroup Inc., a whole heck of a lot! This Bloomberg article explains how women’s lower earnings and longer lifespans have created a gap between their assets and post-retirement needs that is contributing to an overall $13 trillion retirement gap among Americans. This article offers details on what can be done to narrow the gap.

3. How Millennials and Boomers are killing Gen X’s retirement savings

Gen X is often referred to as the “sandwich generation” because they are simultaneously taking care of their kids and aging parents. As a result, they frequently tap into retirement resources to support children with higher levels of student debt and parents with unreliable Social Security income. It’s contributing to a serious deficit in what they need to retire: Members of this generation have saved, on average, only 30 percent of what they expect they will need for retirement! While it may seem like Gen X-ers can’t catch a break, it’s never too late to adopt good financial habits that can help you achieve your retirement dreams.

4. Quiz: we know when you’re going to retire

This Buzzfeed quiz is an awesome example of how personal finance can be fun, entertaining and eye-opening when you get to know your money. Many factors, such as salary, marital status and whether you have kids, affect when you will retire. When weighing your options for retirement, don’t forget the most important question—how do you want to retire? If you make a good financial plan and stick to it, there is no reason to compromise on what’s best for your future you.

© 2018 Ubiquity Retirement + Savings
1160 Battery Street, Suite 350, San Francisco, CA 94111 / Support: 855.401.4357

© 2018 Ubiquity Retirement + Savings
1160 Battery Street, Suite 350, San Francisco, CA 94111 / Support: 855.401.4357