The following article (summary) from July’s Issue of Advisor’s Edge Magazine reminded me of an article that I wrote back in 1997.
Advisor’s Edge Magazine – July 2005 – Escape From Debt Mounting – By: Heidi Staseson
The first baby boomer turns 60 on Jan. 1, 2006. Following him is a wave of eight million ready-to-retirees gearing up for their next life adventure. But there seem to be a lot more questions than answers blowin’ in the wind. Statistics indicate savings rates have dropped to 0% and personal debt is 113% of one’s personal disposable income. Coupled with longer-than-ever lifespans, and upwards of two decades in retirement, will boomers’ be able to afford the lifestyles adopted during their working lives?
Has The Time Come For a “Fulfillment Planner?”? – 1997 – By: Simon Reilly
Why now? Why do people want to do something more meaningful at this time? Is it the end of the Millennium or the beginning of the next Millennium? Is it the Baby Boom / Baby Doom and Gloom Syndrome? Many Boomers were promised a land of milk and honey by their parents who had either gone through the Depression, World War or both. “You will never have it as tough as we had it” the Boomers were told by their parents. The promise, the dream of milk and honey and the economy that was created by the sheer number of Boomers eclipsed the required teaching on how to create fulfillment and happiness in their lives. Boomers actually SPENT their way to fulfillment and happiness through the 70’s to early 90’s. Now, many Boomers are turning 40 & 50 and turning away from a generation of spenders to a generation of savers, and are hiring Financial Advisors by the score. Most Boomers have the house, have done the car thing a few times over and many are on their 2nd if not 3rd marriage or relationship. And all the while saying or thinking “Is this all there is”? They are looking for more fulfillment in their lives. Has the time has come for a “Fulfillment Planner”?