Baby Boomers are reaching retirement age… and millions of them are struggling financially.
Not because they didn’t work hard. Not because they didn’t try to save.
In this video, Colin Exelby, CFP® breaks down the real reasons so many retirees ended up financially unprepared—from the shift away from pensions to 401(k)s, to decades of market timing challenges, missed compounding years, and major events like the dot-com crash, the 2008 financial crisis, and COVID.
If you’re planning for retirement, this is important to understand—because the biggest risks aren’t always obvious while you’re in the middle of your working years.
If you want to see how to structure your retirement income so you don’t end up in this situation, watch this next:
👉https://youtu.be/0zxCJhufBNs
Why so many Baby Boomers are retiring broke
Retirement planning mistakes and structural changes
The shift from pensions to 401(k)s
How market timing impacts retirement outcomes
The importance of compounding in long-term investing
The risks of relying on Social Security alone
Retirement income planning strategies
How to avoid running out of money in retirement
#retirementplanning #babyboomers #401k #socialsecurity #financialplanning
00:00- The real reason boomers are retiring broke
01:10-Retirement Wasn’t Always a Thing
02:13-Boomers Entered the Workforce With No Real Road Map
03:10-The Stock Market Was a Disaster When Boomers Needed It Most
04:23-The 401(k) Replaced Pensions and Shifted the Risk
05:43-The Three Big Reasons Boomers Fell Behind
06:40-Boomers Finally Trusted the Market… at the Worst Time
07:44-The One-Two Punch That Destroyed Retirement Plans
09:05-Too Little, Too Late
09:45-Too Old to Work, Too Broke to Retire
10:15-The Lesson Younger Generations Need to Learn
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[About] Colin Exelby is a Certified Financial Planner Professional™ or CFP®. He owns the virtual financial advisory practice Celestial Wealth Management.
I provide financial planning for business owners and their families that makes sense.
Transformational change is made when you focus on the big picture. My goal is to help you think outside the box about your life, your money, and your health to be the best you can possibly be.
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Top Financial Advisor Baltimore. Top Financial Planner Maryland.
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Neither the information nor any opinion constitutes an offer or an invitation to make an offer, to buy or sell any securities or other financial instruments.
This video is not intended to provide personal investment advice and it does not take into account the specific investment objectives, financial situation and the particular needs of any specific person.
Investors should seek financial advice regarding the appropriateness of investing in financial instruments and implementing investment and planning strategies discussed in this video and should understand that statements regarding future prospects may not be realized.
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Investments in securities entail risk and are not suitable for all investors. This is not a recommendation nor an offer to sell (or solicitation of an offer to buy) securities in the United States or in any other jurisdiction. All investment strategies have the potential for profit or loss.
