Topic 1 – The Wealthiest Generation

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You know, at The Coastal Financial Planning Group the other day, I was having a conversation with one of my 94 year old clients. Now he’s part of the wealthiest generation. He’s a senior. We’re boomers now, and we’re going into retirement. Why was his generation called the wealthiest generation? Let’s talk about that for a moment. The wealthiest generation is known as such because income in their retirement was covered for the most part, with a pension, a defined benefit plan. And then combine that with social security. Most of these wealthiest generation retirees had a situation where they were able to save in retirement. They were able to save their overage with their pension and social security every month, and then use that money for future trips, college educations for grandchildren or whatever they choose to do with their retirement income extra.

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