Born between 1965 and 1980, older Gen Xers are just a few years away from qualifying for Social Security. Those in the middle, thinking about retiring in the next 10-15 years or so, are buckling down to make sure they can, indeed, retire.

It seems the mindset of, ‘Will I be able to retire?’ is more prevalent among Gen X than any other generation before. A recent CNBC article shared that “55% of Americans are behind on saving for retirement”. In our world, we need to be reminded of this reality. We’re used to talking about when a person can retire and what their retirement life will look like, but many are simply hoping and praying to see freedom-filled days in their future.

Retirement Planning for Gen X

Fears about the future of Social Security, geopolitical unrest, and looming uncertainty about the economy — Gen X will need to have a plan to reach their retirement goals. Even so, it’s important to remember that every generation experiences economic downturns, our parents and grandparents made it through recessions, and the economy has historically always recovered.

Rising costs and a changing job market have left “nearly 40% of Americans (to) admit their retirement strategy is derailed and they aren’t sure when or how they’ll get it back on track” If you find yourself in this boat, it may be time to seek guidance. There are many ways to make short-term changes to your budget to allow for your retirement savings to get back on track. Setbacks and challenges are a part of life, all of our clients face them, and we’re there to provide empathetic support when life throws you lemons.

There’s no reason to have a gloomy outlook on the years ahead as an investor. As we’ve alluded to, history tells us the economy does rebound, and it's the downturns in the economy that have been known to create many millionaires. Having the right frame of mind and gaining an understanding of how your money is invested may be what it takes to realize your retirement plan isn’t derailed or that you’re not behind after all. This is to say, everyone’s retirement planning journey is unique, and our positive outlook is not to be construed as financial advice or a guarantee of financial success.

Don’t Wait For Retirement to Enjoy Life

Wherever you stand in your retirement planning journey, we want to take a moment to remind you to live for today. As a society, we find ourselves living for the weekend and daydreaming about retirement. Remember, this is a choice, and much that is happening in the world around us is out of our control. While we’d love to help you prepare for the retirement of your dreams, it’s always important to prioritize today.

You likely have many questions about how to reach the magic number that will allow you to retire. Or maybe your hesitation lies in your desire to help a loved one through college, cashflow your daughter’s wedding, or book the cruise. Others wonder how setbacks in their health or the fear of losing a spouse would impact their ability to retire.

To us, having questions about your financial future shows you’re already planning. You have dreams and you’re dedicated to creating a positive future for yourself and those around you. It’s time to jump in the driver's seat, and we’d love the opportunity to hop in alongside and help you steer. To learn more about how we’re helping Gen X gain confidence in their retirement plans, schedule a call with Burt and his team at Integrated Wealth Management today.

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About Integrated Wealth Management

Integrated Wealth Management is owned by Burt Hutchinson, CPA, CFP®. We’re a CPA-led organization, meaning we’re here to handle your complex tax scenarios and provide cost-saving insight related to your financial plan.

We’re here to guide you through the 3 stages of retirement:

Uncertainty Stage: When you are within 10 years of retirement and have questions about how to make it work
Stability Stage: When you have reached the financial milestone to retire comfortably and confidently
Reflection Stage: When you are looking to leave a legacy

We are also here to provide experienced, empathetic support during times of loss, such as the death of a life partner. You need confidence and a sense of security to enjoy retirement. As fiduciaries with a fee-only structure, we never receive commissions. Free of ulterior motives, you can be sure we’re focused on your goals.

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Disclosure Statement:

This presentation is not an offer or a solicitation to buy or sell securities. The information contained in this presentation has been compiled from third-party sources and is believed to be reliable; however, its accuracy is not guaranteed and should not be relied upon in any way whatsoever. This presentation may not be construed as investment, tax, or legal advice and does not give investment recommendations. Any opinion included in this report constitutes our judgment as of the date of this report and is subject to change without notice.

Additional information, including management fees and expenses, is provided on our Form ADV Part 2 available upon request or at the SEC’s Investment Adviser Public Disclosure website, Past performance is not a guarantee of future results.