Retirement Planning And Its Differences With Each Generation

Baby Boomers have faced multiple market ups and downs, including the 1987 stock market crash and the 2008 recession. Generation X has had to cope with the same economic events and technological revolutions as Baby Boomers. However, they typically have a relatively high participation rate in employer retirement plans and start saving for retirement earlier than previous generations, typically around age 30. On the other hand, millennials are adopting a digital approach to retirement planning, focusing on self-led market investments such as cryptocurrency. Despite being the youngest in the workforce, they are proactive about early retirement planning.

While there are some similarities among age groups, there is no one-size-fits-all solution for retirement planning. For more information on how financial retirement planning differs by generation, please refer to the accompanying resource below.

Retirement Planning for Any Generation from Longbridge Financial, a reverse mortgage 101 company