Hey Gen X! Life has come at you pretty fast!

August 03, 2022
Laurie Kramer, CFP®
Surfer Dude West Financial Services

When I stop to think about it, I find it amazing that most of my friends and family (and myself!) are getting within striking distance of retirement. It doesn’t seem that long ago that I started my career in this industry (28 years, sigh), and loved it so much that I was sure I would work until I died. As much as I still love what I do, I am looking forward to a retirement filled with tasty waves and a cool buzz… oh wait, no, that’s Jeff Spicoli. My retirement picture consists of friends, family, travel, gardening, and generally a slower pace of life! But even as a financial planner, I am concerned about outliving my money in retirement.  

As I watch so many of my fellow Gen Xers celebrate children’s graduations, welcome grandchildren, go through divorce, build new relationships with blended families, and care for aging parents, I often consider whether this “totally awesome” generation is very adept at handling it all – while having careers. And I find myself revisiting my plan much more often these days.

More and more people are coming to me with questions, and I started to realize that many of my peers aren’t that prepared for retirement. They have advisors for their investments, but haven’t addressed the bigger picture. So, I started to compile a few of their concerns and here are some of the most common questions and comments I hear:

Will my retirement income be enough?

Is long term care worth it, and can I afford it?

I am getting killed with taxes!

I think I have too much of my company’s stock.

How do I keep up with inflation?

I want to move south at retirement, how do I prepare for that?

The kids don’t want to take over the business like I planned, so what is the best plan B?

I want to help my children/grandchildren (with education, home buying, etc.).

“Relax, alright? My old man is a television repairman. He’s got this ultimate set of tools. I can fix it!” Basically, that is not far from what some of my friends are hearing from their “investment guy.” And that is causing stress, which is something everyone can use a little less of these days. So, I find myself describing to them exactly what a financial planner does (or should do) – create a plan that considers their goals and marries the disciplines of insurance, tax, investment, retirement, and estate planning all into a comprehensive road map. Can any advisor address just one area and give you a computer generated colorful graph that tells you your chance of successfully having enough income in retirement based on your savings? Sure. BUT, I always advise that finding a fiduciary who creates a detailed plan specific to you, with your best interest in mind, is worth the time and the money. Seek a fee-only CFP® professional, one who will work with you without you having to bring all of your assets over for management, or purchase a product. WFS fits that fee only fiduciary role, but you can also use www.feeonlynetwork.com to truly put you on the road to the retirement you deserve!  Aloha Mr. Hand! I am going to enjoy MY TIME. 

Meet Laurie Kramer, CFP® »


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