Are Millennials Heading For A Retirement Crisis, Too?

We’ve heard over and over that many boomers will face a retirement crisis (if they haven’t already). But if you’re a boomer parent, you’re probably wondering: Will my kids’ generation, the Millennials, face one, too?

Of course, it’s way to early to say for sure either way. After all, these 83.1 million Americans are only 19 to 35. But based on the Wells Fargo Millennial Study released today and other data I’ve reviewed, I’d say that quite a few Millennials just may be heading towards a retirement crisis.

The good news: Unlike the boomers, Gen Y has enough time to reverse course.

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Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Why Trump and Clinton Need to Join the Conversation on Retirement Security

Aging is the forgotten megatrend.

This presidential election cycle, perhaps the closest watched in history, has lacked any meaningful discussion of the pressing issues related to longevity and retirement. That’s a shame because issues that candidates choose to talk about can move the needle on public awareness, which is a step toward action.

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Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

10 Tips to Live Rich While Saving for Retirement

Planning for your financial future while living a full and rich life is a juggling act. Between the financial demands of mortgage payments, kids' activity fees, the car payment and, of course, trying to save for retirement, sometimes the here and now can get lost.

The sad fact is that many people compromise things they truly value, like spending time with the people they care about, out of fear they will come up short one day, says Mark Ciucci, senior vice president of advice at United Capital, a financial advisory firm in Newport Beach, California.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Buckle up: It's Not Your Father's Retirement

It is something you should be planning for decades, reaching your Golden Years -- the day on which you leave the workforce and have enough financial resources to last for the rest of your lifetime. However, they may not be as close as they appear. As today many Americans are working later into their 60s and 70s – while some are concerned they may never be able to retire.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Quick Way to Give Your Retirement Portfolio a Midyear Checkup

Answer these three questions, and you'll be good to go.

Wimbledon is over, the All-Star game’s history and Brexit hysteria seems to be winding down. Which leaves you with a short window before the arrival of the next bigsummer event—the Olympic games—to perform a quick midyear checkup to ensure your retirement plan is on track. Answering these three key questions will allow you to do just that.

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Damian Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

Guess how expensive teacher retirement costs are

According to new data from the Bureau of Labor Statistics, teacher retirement costs are at an all-time high.

As of March 2016, retired public school teachers receive $6.67 per hour worked during their careers. Compare that to March 2006, when they received less than half that amount: $3.26 per hour worked.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

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.

Continue reading source article here.

Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755