Retirement Planning

Mind the Gap, Then Fund the Gap

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Most retirement plans created for Baby Boomers predicted that the last decade of work before retiring would be a nice gentle ride. Lofty incomes and kids leaving the nest after college would allow you to accumulate a comfortable cushion for the leisure years. But this isn’t happening.

After the Great Financial Crisis, incomes for most people I know have not recovered to pre-2008 levels. Companies are quick to do mini-rounds of reductions. As of April, US job cuts in 2016 were at a 7 year high. Everyone is looking over their shoulder wondering if they are next to be let go. If you’re forced to change jobs, new salary levels will be lower than what you had at the last place. This is going in the wrong direction.

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