Millennials challenged by funding modern retirement

Today's 20-somethings face some challenging dilemmas when it comes to saving for retirement.

Not only must they fund their own retirements due to the near evaporation of company pensions, they also are saddled with more student-loan debt, stagnant wages and higher living expenses compared to a generation ago. And at the same time — in another departure from their parents' and grandparents' experience at the same age — they want to ... well, spend more time enjoying life.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

How Your Retirement Account Balance Compares to Your Peers

Your age often dictates your retirement saving priorities. In your 20s and 30s, you need to get some money into a retirement account so that it can start growing on your behalf. Once you have accumulated a significant nest egg, it becomes increasingly important to protect what you've got. And after you retire, you need to sensibly draw down your assets so that your nest egg lasts the rest of your life. Here are some strategies to give your retirement finances a boost at each stage of your life.

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Damian Sylvia

Retirement Income Solutions

220 Oakhurst, NJ 07755 

3 ways to get retirement ready in your 20s

As a 20-year-old, saving for retirement can easily fall to the bottom of the priorities list.

College graduates must focus on repaying their loans and paying rent wherever they may have moved for a career, although several would rather backpack and see the world before making their next career moves. Add to all of those ambitions potentially accrued debt and it could spell a recipe for disaster.

However, despite all of their immediate financial needs and responsibilities, 20-year-olds have the greatest opportunity to ensure a successful retirement if they start on the right path.

Continue reading source article on MarketWatch.com.

Damian Sylvia

Managing Partner

Retirement Income Solutions

How do you define retirement?

Everyone knows what retirement means, right? Well, according to the 16th Annual Transamerica Retirement Survey, it turns out that people define retirement differently. In prior generations, when someone told you they were retired or plan to retire, it meant they weren't working at all. But that's no longer the case.

Continue reading the source article at CBSnews.com.

Damian J. Sylvia

Managing Partner

Retirement Income Solutions

Generations Confess Retirement Fears

A common stereotype about baby boomers and retirement might need some tweaking. This is the commonly held view that the “me” generation puts a very high priority on being able to retire whenever they want. Some are said to make it their highest financial priority. It is said that a lot of retirement planning for this generation spins around that goal.

But new Harris Poll sponsored by the Million Dollar Round Table (MDRT) found that it is Generation X, not the boomers, who are most concerned about not being able to retire when they want. The December survey sampled the views of more than 2,000 adults.

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Damian Sylvia

Managing Partner

Retirement Income Solutions