{"id":21925,"date":"2024-05-29T22:02:35","date_gmt":"2024-05-29T22:02:35","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/05\/29\/8-generational-differences-in-americans-retirement-planning-worries\/"},"modified":"2024-05-29T22:02:35","modified_gmt":"2024-05-29T22:02:35","slug":"8-generational-differences-in-americans-retirement-planning-worries","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/05\/29\/8-generational-differences-in-americans-retirement-planning-worries\/","title":{"rendered":"8 Generational Differences in Americans&#8217; Retirement Planning Worries"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/897959228\/0\/thinkadvisor\/\"><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2024\/05\/01_Old_Young_Life_Cyle_Adobe_640x640.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<p><button id=\"start-slideshow-top\" data-toggle=\"modal\" data-target=\"#slideshowModal\" class=\"start-slideshow carousel-control slideshow-btn retirement-planning \">Start Slideshow <img decoding=\"async\" src=\"https:\/\/www.thinkadvisor.com\/assets\/master-template\/images\/market-images\/tasr\/rightarrow.svg\" class=\"prevbtn-img\"><\/button> <\/p>\n<p id=\"first-para\">Following the COVID-19 pandemic, workers\u2019 attitudes may have permanently shifted regarding work-life flexibility, part-time or gig work, and shared caregiving responsibilities, according to a <a href=\"https:\/\/www.gsam.com\/content\/gsam\/us\/en\/individual\/market-insights\/gsam-insights\/2024\/retirement-survey-generational-divide.html\" target=\"_blank\" rel=\"noopener\">new survey report supplement published by Goldman Sachs<\/a>.<\/p>\n<p>Similarly, the survey results suggest that Americans\u2019 stated concerns about their current financial lives and their prospects for preparing adequately for retirement have also evolved, and there are clear differences across the generations with their biggest perceived hurdles to achieving financial security now and in the future.<\/p>\n<p>The new crop of data offers additional insights drawn from Goldman Sachs\u2019 annual <a href=\"https:\/\/www.gsam.com\/content\/gsam\/global\/en\/market-insights\/gsam-insights\/2023\/retirement-survey-insights-report.html\" target=\"_blank\" rel=\"noopener\">Retirement Survey &amp; Insights Report<\/a>, which focused this year on the concept of the \u201c<a href=\"https:\/\/www.thinkadvisor.com\/2024\/04\/16\/how-women-can-steer-clear-of-the-financial-vortex\/\" target=\"_blank\" rel=\"noopener\">financial vortex<\/a>\u201d and the way that countervailing personal and economic challenges can leave even affluent Americans struggling to make ends meet. Specifically, the supplement evaluates the distinct retirement planning challenges faced by baby boomers, Generation X, millennials and Gen Z.<\/p>\n<p>By appreciating the needs of each generation, the authors argue, key stakeholders can better see the macro changes happening across Social Security, longevity, caregiving, education costs and general views on retirement that are affecting how people save and prepare.<\/p>\n<p>Ultimately, the authors conclude, the financial vortex necessitates that retirement savers create a personalized plan and a strategy for navigating the complexities of investing, saving for retirement and managing debt.<\/p>\n<p>\u201cEnhancing their financial literacy can empower more informed decisions and improve retirement planning,\u201d the authors write. \u201cThe path to retirement savings is undoubtedly challenging for each generation but we believe that with better understanding, proactive measures and strategic planning, it\u2019s possible to help retirement savers navigate these hurdles successfully.\u201d<\/p>\n<p>See the accompanying slideshow for eight highlights from the report.<\/p>\n<p> <button data-toggle=\"modal\" data-target=\"#slideshowModal\" class=\"start-slideshow carousel-control slideshow-btn retirement-planning\">Start Slideshow <img decoding=\"async\" src=\"https:\/\/www.thinkadvisor.com\/assets\/master-template\/images\/market-images\/tasr\/rightarrow.svg\" class=\"prevbtn-img\"><\/button><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Start Slideshow Following the COVID-19 pandemic, workers\u2019 attitudes may have permanently shifted regarding work-life flexibility, part-time or gig work, and shared caregiving responsibilities, according to a new survey report supplement published by Goldman Sachs.&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21925"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=21925"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/21925\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=21925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=21925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=21925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}