When it comes to funding retirement, the boomers are up against the most pressing challenge – even the youngest of the cohort face imminent retirement. But Gen X and Y clients could be in even more trouble. The problem: They may have to fund retirements that exceed the length of their working lives. Here’s some ammunition to get clients of all different ages motivated.

Boomers are most apt to raid retirement savings. Money’s Dan Kadlec points out that unexpected expenses are most likely to prompt boomers to withdraw money from their registered retirement plans, incurring a tax penalty and jeopardizing their future. The simple solution: an emergency fund.

A heads up for Gen Xers. Richard Eisenberg of Next Avenue cites new research that claims Gen X has the lowest level of retirement security of any generation. Although the oldest of this cohort turns 50 next year, the general approach to retirement has been, “We’ll think about it when we get there.”

Advice for GenY (AKA the millennials). Kelley Holland’s CNBC article details the savings rates millennials should be achieving and what they’re actually putting away in order to generate 85% of their pre-retirement income.

On the plus side . . .

The government will be there to help. The Globe and Mail’s Tim Cestnick offers a primer on just what clients can expect to earn in CPP benefits and how the sum is calculated. The kicker: Our new Liberal government has promised to enrich CPP further.

Options help reduce volatility. Finally, National Post’s Jonathan Ratner looks at how options and other strategies can help fund managers reduce portfolio volatility in an uncertain market.

Originally published on Advisor.ca