YFP 236: Gen X Pharmacists: Financial Challenges and Money Strategies

An introduction to today’s topic of Gen X; the sandwich generation.

How Gen Xers are often providing for their parents, plus a young child or a child over 18.

How these financial expectations are often overlooked or pushed to the side.

We talk about average incomes, the rising cost of education, and what their debt load is.

The impact of the ups and downs in the last few years on their financial mindsets.

How Gen X wants stability but might not have the financial plan or means to get it.

You can take out education loans for your kids, you can’t get retirement loans.

Hear how Tim Baker follows the one-third plan and a reminder of what that is.

Relying on the act of planning, versus having a plan.

Some important questions Gen Xers can ask themselves to get financially stable.

Making sure you’re not on autopilot, particularly in your peak earning years.

Tackling the fear and inertia of having left it so late in life to start saving and planning.

Having empathy for Gen X needing different priorities from the previous generation.

That Gen X really wasn’t dealt a great hand economically, but the problems are fixable.

Reigniting the vision and finding the motivation to do things differently.

Speaking about the lack of confidence in social security for future retirement.

Tim shares a great exercise you can do to check your retirement age and benefits!

We discuss the shifting dynamics of generations and the transfer of wealth.

Some parting words of encouragement from us here at the YFP team!