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Retirement Planning with Boomers and Gen X
There is a huge difference between how Baby Boomers and Generation X approach planning and saving for retirement. The biggest reason for this is how long each generation has until retirement age, Generation X still have a couple decades left before reaching retirement age whereas Baby Boomers are already starting to retire in large numbers. Boomers also have a better mindset towards saving for retirement, Generation X holds an ideal akin to “seize the day” concerning their financial planning. This idea carries over in to how each generation views debt as well where Boomers try to avoid it at all and Gen X generally accepts debt as a “necessary way of life.” For more information on this topic, visit this article by Warren S. Hersch with LifeHealthPro.
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