Millennials Are Spending Less and Saving for a Rainy Day

While waiting in line last week at Starbucks, I realized that I was the only “guest” ordering black coffee — not a grande, no-foam macchiato concoction — and the only person using cash. The mostly millennial customers were flashing a smartphone app or swiping credit or debit cards. The way our adult children spend and save money is very different from their boomer parents. “I want it fast, and I want it now” is the millennial mantra when it comes …

Why You Should Consider a Roth Conversion

Soon we’ll be looking at tax day in the rearview mirror, which is the perfect time to plan for future tax consequences. One strategy that’s especially good for recent retirees is converting part of a traditional IRA to a Roth IRA. First, a little background. Generally speaking, when you contribute to a traditional IRA, you get a tax break immediately but your money is taxed as ordinary income when you take it out later to live on. A Roth is …

Aging Issues, Volunteerism Top Talks in Phoenix

“We have to start thinking about healthy aging starting at an early age,” Amy St. Peter, human services manager for the Maricopa Association of Governments, told attendees in Phoenix at the second of a series of five forums leading up to the White House Conference on Aging this summer. Experts on aging issues along with advocates and everyday older Americans gathered for the invitation-only confab to offer opinions and help set the agenda for the White House conference in Washington. …

Millennials Create Their Own Expressions of Religion

At Passover seders and in Christian churches this week, families will gather to observe the religious holidays. While some adult children will join in, many will do so out of a sense of obligation rather than practice. More than one-third of all millennials say they are “religiously unaffiliated” today, the highest percentage ever in Pew Research Center polling. It’s not just a rite of passage. Both Gen X and boomers were significantly more religiously affiliated as young adults. So why …

AARP Study Finds the Road to Reemployment Is Bumpy for Many

Older job seekers who were out of work at some point in the last five years found that tapping their network of contacts, reaching out to employers directly and starting their job search immediately rather than taking a break tended to be more successful in landing a job, according to a new report entitled “The Long Road Back: Struggling to Find Work After Unemployment,” by the AARP Public Policy Institute. Yet for many others, the study found that a substantial number …

Move Aside Millennials, Make Way for Gen Z

First the boomers were nudged from the media spotlight by millennials, the largest and most diverse generation. And who can argue that our adult children have made an indelible imprint on how we live, work and play. But now millennials are about to get some competition. Here comes Gen Z. Although the starting date can vary, Gen Z encompasses newborns to teens, beginning with those born in 2001. Demographers and marketers alike slice and dice the U.S. population in generational …