Ok, so I know the title is harsh. I'm a millennial too, and I get just as annoyed by Baby Boomers harping on us, our work ethic, our style and our music (I don't like Pitbull either, Dad.) But if there is one thing our generation most certainly lacks in comparison to our parents, it’s financial literacy.
On Friday, March 11, 2011 an 8.9-magnitude earthquake struck Japan. A New York Times account stated skyscrapers shook, furniture toppled, and highways buckled. Thirty-foot waves rushed onto shore, whisking away cars and carrying blazing buildings toward factories, fields and highways. Thousands of homes were destroyed, roads became impassable, mass transit halted, and power and cell phones were downed.
We are all familiar with the many techniques for restoring balance in our lives for better health and performance. Interestingly, our investment portfolios are also at risk for becoming imbalanced and can be restored through a discipline called rebalancing.
One of the most popular American comedies in recent years involves three friends who wake up from a bachelor party in Las Vegas with a tiger in their room, their bachelor missing and no memory of the previous night. It is not until the credits roll that viewers are witness to an array of selfie-like snapshots that reveal what actually
happened during the course of the movie.
Taking care of aging parents is an increasing reality for many baby boomers. If you are not engaged in caretaking of an elderly family member you probably know someone who is. We have entered, for the foreseeable future, a perfect storm of increased longevity and rising healthcare costs.