Equity Trust Company’s Post

Kiplinger recently published this article, “Three Gen X Retirement Mistakes for Millennials, Gen Z to Avoid. Many Gen Xers haven’t prioritized saving for retirement and face a crisis as the first generation to retire without substantial support from pension plans.” Read the full article here: https://lnkd.in/gEmSnmF5

According to a recent Kiplinger article the average 401(k) balance for millennials born 1981-1996 / Age 28-43 is $59,800. So fellow millennials, how are we doing? If you're significantly below the average on your retirement savings, take a minute today to think of and implement one way to increase your monthly retirement contributions. Not a millennial? Read the rest of the article to learn where your generation stands. ➡️ https://lnkd.in/g-DSrQ4A

According to a recent survey by retirement finance company IRALOGIX Inc., Millennials are changing the way people think about retirement. According to over 50% of Millennials surveyed, obtaining “financial independence” is a more significant indicator of retirement than simply turning 65. While some Millennials hope to retire at age 65, many see retirement as a stage of greater freedom in their lives rather than a total absence from the workforce. We cover this and more in this month's The Retirement Times #hr #humanresoutces #millennials #retirement

65. It's been the accepted standard retirement age for almost a hundred years. But Millennials are not paying attention to that number. Almost half say they will retire as soon as they are able to, while another quarter plan to continue working later into life. Interestingly, only 20% believe the government is responsible for their retirement income, and most are striving to prepare for their own financial needs. #401k #retirement #retirementplanning #smb #millennials #moneymatters https://hubs.ly/Q02ptf-10

According to a recent survey by retirement finance company IRALOGIX Inc., Millennials are changing the way people think about retirement. According to over 50% of Millennials surveyed, obtaining “financial independence” is a more significant indicator of retirement than simply turning 65. While some Millennials hope to retire at age 65, many see retirement as a stage of greater freedom in their lives rather than a total absence from the workforce. We cover this and more in this month's The Retirement Times #hr #humanresoutces #millennials #retirement

These numbers are some of the lowest I have seen reported in a long time. The bottom line is pretty stark: if Americans want to maintain their current standard of living in retirement, then they will need a better plan than just saving in a retirement plan which has proven to be insufficient for the majority.

Most Americans are nowhere near their financial retirement savings. With the target set north of $2 million for Millennials, if you are behind, it's time to start catching up with a financial plan and actionable steps. I've yet to see someone complain that they saved too much. Most retirees wished that they saved more and earlier. #retirementcrisis #financialfreedom #financialliteracy

🚀 Millennial Retirement Readiness: A Closer Look 🚀 A recent study reveals a striking contrast in millennial retirement expectations versus reality. While 32% of millennials aim to retire before 65, only one-third have a structured retirement plan in place. Even more concerning is that although most millennials are saving for retirement, the average amount saved stands at just $49,000. This gap highlights a critical need for enhanced financial education and planning strategies tailored to younger generations. Are we preparing adequately for our financial futures? 🔗 Let’s discuss innovative approaches to boost millennial retirement readiness. #RetirementPlanning #Millennials #FinancialLiteracy #FutureReady Share your thoughts below or DM me to explore effective retirement strategies!

Wall Street Journal did a recent report stating that Baby Boomers believe the safe withdrawal rate of their retirement accounts is 10%… Do you know the actual safe zone for receiving income from your retirement accounts in order to not outlive your money? 7%? No. 5%? Nope. It’s actually… 2% “I need liquidity.” Yes, I understand. And you also need to ensure you don’t run out of money while you’re on a fixed income. If you haven’t structured a proper plan to ensure you don’t outlive your money in retirement, I would love to provide an unbiased analysis.

🔥 Light My FIRE: Could You Really Retire Early? 🔥 Discover how the FIRE movement—Financial Independence, Retire Early—can help Millennials and Gen Z achieve early retirement by maximizing savings and embracing a minimalist lifestyle. Learn more👉 https://lnkd.in/ggK8u8V2 #FIREMovement #EarlyRetirement #FinancialIndependence #Millennials #GenZ #RetirementPlanning #FinancialGoals