What did Boomers do wrong? Financial advice for the Class of 2017

As over 1.8 million college graduates enter the workforce, they face an economic inflection point. Change in their financial life will perhaps never be as dramatic as the transition to career economics.

It is advisable that the Class of 2017 look at a revealing case study of those who preceded them, the Baby Boomers.  Most Boomers have not prepared adequately for their golden years, just ask them.  They wish they had a do-over button; ‘If I had only known then what I know now…’ goes the lament.

If there was such a button, many Boomers would do anything for it. But if there was, where it would it put them? Squarely where the Class of 2017 is today. I hope this gives pause to use this moment wisely. It is literally priceless.

How to Transition from Campus to Corporate Life

by Alan J. McMillan | May 15, 2017, Re-posted from Vault 

What did Boomers do wrong? Essentially, the priority was work and they put less thought and money into the long term deployment of that money and now they regret it. Alan J. McMillan offers these simple lessons for this generation:

Set an Initial-Percentage goal for your 401k
Set a Goal-Percentage for your 401k
Never divert retirement assets toward expenses while you are working
Install, fully implement and become proficient with financial software

Of course its not quite that simple, READ MORE

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