Today’s burgeoning senior population is made up of a diverse population consisting of the Baby Boomers (born 1946-64), the Traditionalists (born 1925-1945) and the rapidly disappearing Greatest Generation born before 1925. Seniors comprise about 16% of the population today, but are expecting to become a much larger segment in the future. There were 51 million seniors in 2017 and that is expected to nearly double to about 95 million by 2060. The group under the most pressure today are the “Boomers”. Also referred to as the “sandwich generation”. Many are caught between taking care of grown children who need financial assistance, especially those carrying the burden of student loans, while simultaneously tending to the needs of aging parents. Thus, the incredibly difficult “sandwich” that can be filled with weddings, funerals, and retirement planning. To complicate problems for this segment is the fact that less than 60% have planned for the “golden years” that oftentimes turn to brass. 70% of these folks mistakenly believe they can rely only on Social Security for a bright future. Sadly, that benefit is woefully underfunded and may not bring to life the dreams of an untroubled and secure retirement. Surely, a sandwich is no baloney at all.
* Lou Reinitz LJR Insurance Solutions

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