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Baby Boomers

Why Career Planning Should Be Part of Your Retirement Planning

If you are in your 20s, 30s, and 40s, saving for retirement is different than it was for your parents. While the goal is the same -- preserving lifestyle -- how you'll do that will be affected by the fact that you may change careers the way workers once changed employers, making it important to think about retirement planning in the context of career planning. Research shows that compared to baby boomers, generations X  Y, and Z (also known as Millennials) are motivated less by money and more by a desire for work-life balance and finding meaning in their work. If you fall into one of these groups, it's likely you will try out multiple professional identities in your quest for professional fulfillment.You probably can't anticipate the steady career progression that culminates in a pre-retirement stretch of five to 10 years of peak earnings. You could have as many earnings peaks as you do careers -- and as many earning plateaus and valleys. So even though you may think about retirement d...

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