The baby boom generation is the demographic engine that has driven U.S. economic growth over the past 50 years. But now, as boomers work less, spend less, retire and draw on retirement funds, that baton is being handed over to Generation X and millennials. The economy is fueled by consumer spending, so the people who buy the most cars, houses, staples and luxury items are in a position to call the shots. How will younger generations handle their wealth and power?

But first, here’s a quick rundown of the generations, according to the Pew Research Center:

Silent generation: Born 1928–1945


Common sense would suggest older workers have a much easier time saving than young adults. They are more likely to have already purchased a home, put kids through college and, by that point, are putting more money away for retirement.

A recent study by the Transamerica Center for Retirement Studies confirms this is true, but the difference isn’t as big as you might expect. The report shows 78% of baby boomers are saving for retirement, compared to 77% of Generation X and 71% of millennials. …


As we run through our daily to-do lists — go to work, attend meetings, battle traffic, get home, spend time with the family, eat dinner, sleep, repeat — retirement might seem like a lifetime away.

The clutter and work of the everyday often makes us forget that soon we’ll be quieting down, moving at a slower pace and enjoying all those things we’ve been working towards over the past decades.

With that in mind, I have found it helpful to develop a to-do list for those planning to retire in the next five years.

This to-do list doesn’t involve finishing…


Married or single, women are finding that taking an active role in their financial futures is critical. About 80% of married women outlive their husbands, and nearly half of all widows say they wish they’d been more involved in managing their finances when their spouse was alive.

Whether you have a career or rely on someone else for income, are retired or still dreaming of retirement, don’t take your financial future for granted. It takes work. We can help.


According to the United Nations, across the globe, people older than 65 now outnumber children under five for the first time in history. In 1960, the average woman gave birth to five children in her lifetime; by 2017, that ratio had dropped to 2.4 children per woman. Meanwhile, our life expectancy has increased around the world. In 1960, the average lifespan was just over 52 years of age; in 2017 the life expectancy was 72.

Today, more than 60 percent of married households with children have two income earners. Yet many still struggle to make ends meet. That makes it…


The number of workers older than 64 has increased threefold since 1989. And while working longer may be a marker of good health for some, it’s a necessity for others who need the income. As a result, we may need to rethink our idea of what retirement looks like in the 21st century.

Consider that working longer could be a problem if you’re relying on it as a retirement savings strategy. That’s because a 2018 study found that more than half of older U.S. workers, many of them mid- and late-career managers, were forced out of their jobs before they…


The average 401(k) balance fell by 19% during the first quarter, according to data released Friday by Fidelity Investments.

As of the end of March, 401(k) accounts in Fidelity’s record-keeping business held an average of $91,400, down from what was a record of $112,300 at the end of December, the firm stated.

Meanwhile, IRA balances fell from an average of $115,400 to $98,900 during that time, according to Fidelity. Tax-exempt market plans, including 403(b)s, had average balances of $75,700, down 19% from the fourth quarter of 2019.

Despite the negative returns in the stock market and historic volatility, people continued…


The baby boom generation is the demographic engine that has driven U.S. economic growth over the past 50 years. But now, as boomers work less, spend less, retire and draw on retirement funds, that baton is being handed over to Generation X and millennials. The economy is fueled by consumer spending, so the people who buy the most cars, houses, staples and luxury items are in a position to call the shots. How will younger generations handle their wealth and power?

But first, here’s a quick rundown of the generations, according to the Pew Research Center:

Silent generation: Born 1928–1945


Common sense would suggest older workers have a much easier time saving than young adults. They are more likely to have already purchased a home, put kids through college and, by that point, are putting more money away for retirement.

A recent study by the Transamerica Center for Retirement Studies confirms this is true, but the difference isn’t as big as you might expect. The report shows 78% of baby boomers are saving for retirement, compared to 77% of Generation X and 71% of millennials. …


As we run through our daily to-do lists — go to work, attend meetings, battle traffic, get home, spend time with the family, eat dinner, sleep, repeat — retirement might seem like a lifetime away.

The clutter and work of the everyday often makes us forget that soon we’ll be quieting down, moving at a slower pace and enjoying all those things we’ve been working towards over the past decades.

With that in mind, I have found it helpful to develop a to-do list for those planning to retire in the next five years.

This to-do list doesn’t involve finishing…

Sterling National Financial Group

The principals at Sterling National Financial Group, LLC have pledged to provide financial solutions to our customers through smart planning and sound advice.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store