Blog Post: Financial planning for generation X, Y, Z

As of today, I have yet to really figure out why and how names are given to a certain group of people based solely on their birth date range.  There are many topics about planning for each generation; are you a sandwich (taking care of kids and parents with you in the middle) or are you an X (child of a baby boomer).

If you ask any generation, I’ll bet you get pretty much the same answer.  I want to save enough money to retire comfortably by the time I am age fill in the blank.  Isn’t that what everyone is trying to do no matter what the age?

My father always said, if you can’t afford it, don’t buy it and don’t take a Friday afternoon lab at college, which I found to be REALLY good advice.

No matter what your age, the same basic principles apply.  Don’t spend more than you make, always save for a rainy day, keep investing in whatever market you are comfortable in and if you don’t understand, ask a professional.

Women in Insurance and Financial Services Valley of the Sun has members from various professions that can offer you assistance; banking, accounting, taxes, mortgages, insurance, estate planning, business planning and investment planning.  If you are interested in getting some professional advice in any of these areas, and others, visit our website at www.wifs-vots.org.  We are happy to give you some assistance.

Meanwhile, keep saving, keep to the budget, and understand how it’s going to benefit you in the long run.

Tisha Diffie, RFC, President WIFS Valley of the Sun