Generation W...?

The children of the baby boomers (ages 22-32) are facing financial challenges their parents never had to deal with.  This Generation known as the "millennials" have to deal with ever-increasing longevity (keeping the boomers in the job market), declining corporate opportunities, and mountains of debt from their student loans.  The Nu Skin program is the PERFECT business for them.  (I was 32 when I first started in the program :) – Dennis

Generation W(on't Be Able to Retire)

BY: MASON BRASWELL

MONDAY, JULY 1, 2013

While the industry prepares for the number of ways the baby boomers will change retirement planning, another challenge is looming just behind them—their children. This generation possibly won't be able to retire at all.

"That's why this generation is saying 80 is the new 65," says Karen Wimbish, director of retail retirement for Wells Fargo. "Retirement at 65 may not, in fact, be possible. Either you're going to have to spend less in retirement or you're going to have to work longer at some job or part time. Total retirement may not be an option."

The reason is that millennials between the ages of 22 and 32 face a raft of challenges their parents didn't face: increased longevity, declining pensions and student loans that have heaped mountains of debt on their young shoulders. Only half of millennials reported that they had started to set aside money for retirement, according to a recent Wells Fargo Retirement survey. More ominously, of those who had not started, 87% reported that it was because they didn't have enough money to save.

"This may be the first generation in history that does not end up in a better place than their parents," Wimbish says. 

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