A New Plan for Your Financial Future

Financial planning is tough.

And by tough, I mean at this point in history in general and for people our age in particular.

Beyond the pandemic, rising inflation, and the invasion of Ukraine, our generation has faced some serious economic disruptions. And while younger people have been hit with the same events, there’s the understandable feeling that we have less time to make up for them.

For example, Generation X is the only actively working cohort that places more importance on work than leisure, according to a new report by Bain & Company. Bain attributes this to the fact that we were hit particularly hard by the 2007–09 financial crisis in terms of wealth and career prospects.

This mindset speaks to our well-noted resiliency. But it also likely reflects an attitude of, “We’ll simply work until we drop.”

Here at Further, we tend to think working beyond age 65 is a positive thing. Not because we celebrate having less in retirement savings than we might hope, but because it’s likely we’ll live longer and healthier lives than we ever dreamed possible when we were younger.

We’ve mentioned repeatedly how retirement at age 65 is a relic. It was “invented” back in 1935 when most of the labor force engaged in physical work that produced significant wear and tear on the body.

Συνέχεια εδώ

Πηγή: further.net