Better with Age?

Better with age, yes, just like a fine wine! But all those years ago, (if you are over 50) when you were watching Happy Days, did you imagine you’d be stressing about retirement? We grew up on Barbie and Ken, the Beatles and wearing bell bottoms – and now some of us are grandparents! Is it a transition you’re ready for?


Baby boomers (those of us born 1946-1964) have been the most marketed to generation in history. After the WWII there was a huge growth and boom in electronics, gadgets, and an exciting appeal of promise to live the perfect dream. Work until you were 65 and then retire to the ‘good life’. Hey, I watched my grandparents do it!


Well for some of us in the boomer generation, this is not a reality, because consumerism was deep rooted into our subconscious. This resulted in the desire for material wealth, even to the point where it has become a core value. (AKA; ‘Keeping up with the Jones’s’) I watched my parents live that lifestyle, which became my ‘learning ground’. They didn’t talk about money, it was a hush hush, none of your business, topic.


To pay for this overspent lifestyle, we’ve had to work harder and longer hours than any other generation. Instead of saving for our future as our grandparents had learned to do, we’ve gone deeper into debt. Statistics say that 75% of boomers will continue to work after retirement just to keep up.

As we look in the mirror and see more gray hair, many of us have secret regrets—and guilt—about how poorly we’ve planned for our retirement. Fear, disgust, shame and avoidance are often the reactions.


I say so what – you are where you are based on what you have done so far – you can’t go back and change it – but there are steps you can take NOW to play financial catch-up with your dreams, so don’t be discouraged. Some of us never had the “MONEY 101” lesson at school …or from our parents. But it’s not too late.

First, having clarity about what you want, why you want it, and the ‘what’s it going to take to get it’ (basically goals) is the key and foundation for all financial planning.


First step, yup…. you guessed it; Know your numbers! What financial resources do you even have, where are they, what are they invested in (or not), what is the plan and do you know how much you need for the future to live on? Sad fact, most don’t and here’s why… You might be familiar of the term; ‘budget’? (wink)


Now I am not being a smart-ass, but I get it! Before I started to budget I thought I was going to have to clip my spending wings and not have anymore fun. However, that wasn’t necessarily true. Now granted, you may be spending more money than month (and that shows up in credit card debt or maxed out line of credits) … but the bigger question is; what are you spending your money on?


So here it is an easy explanation of a budget; a means to know your numbers and know where you are spending and saving your money. And for those of you that have a spender personality (like me), Having a plan allows you the life and things that are important to you.


You’ll like this acronym for Budget = Baby U Deserve Getting Every Thing!


In 2011 the first wave of the baby boomer generation turned 65. Statistically, less than 50% have a written plan. And the sad reality (according to a Financial Wellness Survey last year), 79% of baby boomers are contributing to retirement saving plans, but 50% of them have saved up less than $100,000, and more than a third of them have saved less than $50,000 for retirement.


Having a plan provides you with a map and direction so you can confidently make choices, know your options and achieve your goals. A plan also protects you when life throws you a curve ball! In that study it also claimed that boomers are concerned and scared about having enough savings to retire and that ideal retirement includes good health, living life the way you dreamed of, and having you’ve saved enough money to live comfortably.


I don’t mean to be the bearer of bad news, I just want to give you a helping hand if you are in the 50% that need a plan. I know and believe that when you know better – you’ll do better. Period. I don’t care where you are, and I most certainly can’t judge after healing my own relationship with money.


Diving into planning for your future can be confusing and difficult, especially if you don’t really know where to start. That’s where I come in… because you know the saying; “You can’t see the frame when you are in the picture”?  The first step is to give yourself permission to ask for help if you need it. It’s not a badge of weakness, it’s a sign of strength.


There are many thousands of books, seminars and self-help resources to get you on track with a plan. But if you don’t take action, it doesn’t matter, does it. Some of us need a helping hand (like I did!).


Take this opportunity to do some soul searching and what you want in your life. Do you have dreams that you have not fulfilled yet, forgot or worse; given up on? Are you happy? How do you feel about your future? Are you where you thought you would be? Be assured your time is not up!


It’s never too late to be, do and have whatever you want, it may sound corny and monotonous but it’s true! I recently worked with a lady who was 70 when her world fell apart, husband left her and she was thrown into a new life with no plan. She was pretty much freaking out about how she could live… but now, she is travelling, owns her own home and is kicking butt in her life! She is absolutely living the phrase – ‘Carpe Diem’!


I don’t care how old you are, or how young you are, seize the day and plan for your future.


If you need some help, click here and let’s talk.


It breaks my heart to watch people to abandon their dreams, settle, play small and give up. I’m on a mission to change that! It doesn’t cost you anything to talk to me, but it could cost your future happiness if you feel you are stuck at this moment and don’t know what to do.


It’s never too late, I’ve got your back…. believe.

Lots of love

Shari Molchan Signature