This week, I just wanted to turn every one's attention to an article I came across in a weekly series called "The Boomer" which is published on Fox Business. So with that said, take a look at the article here before you read the highlights that I want to make about the article.


I really like the content of this piece, it approaches a topic that eventually all parents will have to approach, and one that many of the parents in my generation have recently dealt with or are even currently dealing with. What I appreciate from Mr. Viminitz as much as anything else is his consideration of the rationale behind many boomers' decisions. For example, take a look at his response to the first question regarding preservation of wealth and estate: he points to the fact that there is often not the concern that there should be for estate preservation due to the "I did it myself, and my kids can do it themselves" attitude. His counterpoint that we are NOT in the same economic environment now as when we were twenty-five and therefore should put more emphasis on our estates cannot be overstated.

Similarly, the last two questions that Mr Viminitz answers reflect our generation's mentality towards cash flow allocation and preservation and how it can harm us in our current environment. His basic point is as follows:

I.  Our generation has not saved enough before our children move on to their own lives
II.  Our children leave, and we then realize how little we have saved
III.  To compensate for this lower number, we are drawn to potentially higher yields
IV.  By doing this we put ourselves at too high of a risk of losing money that we have "saved" for using in 5-10 years when we retire.

Chad Viminitz touches on some very poignant facts that I see everyday. There are certainly methods by which we can still receive modest gains and preserve our savings, satisfying both our need to buildup a good retirement nest egg late in life, and avoid the risk of losing that which we already have saved. If you have questions about these strategies, please shoot me an email or give me a call.

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