Retirement Planning and Denial

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Are boomers in denial when it comes to retirement planning?   While we’ve covered the state of financial illiteracy previously, denial is also all to rampant.

Take a look at the following.  I want to state up-front that I didn’t write the two paragraphs and I’m embarrassed to say I don’t know or remember where I found it – so my apologies to whoever it might be that I’m plagerizing; but, I thought you might find it interesting.

About 15 years ago, it was reported that as a generation boomers had tended to avoid discussions and planning for their demise and avoided much long-term planning. However, there has been a growing dialogue on how to manage aging and end of life issues as the generation ages. In particular, many argued that Baby Boomers were in a state of denial regarding their own aging and death, thus leaving an undue economic burden on their children for their retirement and care.

One book, written by Colorado doctor Terry Grossman, titled, The Baby Boomers’ Guide to Living Forever, proposes how baby boomers might avoid death. On page 3 of the book, Grossman writes, and not ironically: As an official member of the Baby Boomer Generation, I really and truly do not believe that it was intended for us to die. Death, if and when it occurs, clearly will represent a mistake of some kind.

Interesting, huh?

Jim

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Jim Lorenzen is a CERTIFIED FINANCIAL PLANNER® professional and An Accredited Investment Fiduciary® in his 21st year of private practice as Founding Principal of The Independent Financial Group, a fee-only registered investment advisor with clients located across the U.S.. He is also licensed for insurance as an independent agent under California license 0C00742. IFG helps specializes in crafting wealth design strategies around life goals by using a proven planning process coupled with a cost-conscious objective and non-conflicted risk management philosophy.

The Independent Financial Group does not provide legal or tax advice and nothing contained herein should be construed as securities or investment advice, nor an opinion regarding the appropriateness of any investment to the individual reader. The general information provided should not be acted upon without obtaining specific legal, tax, and investment advice from an appropriate licensed professional.