Financial Planning

Seniors: Don't Discount a Discount

When people reach a certain age or just get near to being senior, they may become unwilling to acknowledge it because they are embarrassed or they can’t accept the reality that they have reached THAT age.

There’s nothing to be ashamed of. In fact, there are many valuable offers and discounted deals just waiting to be discovered, that are available only to the “older generation”.

The biggest retirement fears among Baby Boomers

Despite being called the ‘Golden Years,’ retirement is not always easy. The combined challenges of saving enough to live on, frequently declining health, and limited mobility can make retirement a difficult period for many people.

According to a 2010 survey from Allianz Life Insurance Company, Baby Boomers in the United States shared that their biggest retirement-related fears were a combination of health and financial concerns, with the apprehension of outliving their retirement savings topping the list,

The biggest inheritance mistakes seniors make

The rapid population growth of Baby Boomers across North America is a well-documented phenomenon, but it’s not just demographics that will change as a result of the aging population: economics will also be significantly impacted.

In the next 40 years, more than 40 trillion dollars of intergenerational wealth transfer will occur in the United States alone in the form of inheritances and estates as millions of Baby Boomers and Generation X’ers retire and pass money on to their children.