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While each generation is unique in many ways, the dream of the good life is alive and well for all four cohorts. All four groups have an affinity for material things, even the frugal Matures (after all, whose post-War appetites created a market for the avalanche of consumer goods Boomers took as their birthright?). In the end, though, each cohort also values such intangibles as personal fulfillment, family well-being, freedom, security — a life that's on track.

As a result, meeting the challenges of lifetime financial security means stepping up to the issues and needs and wants most of us have no matter which generation, market segment or stage of life we're in.

Wealth accumulation - living comfortably while meeting long-term goals such as retirement and children's education.

Survivorship - protecting our families against financial hardships resulting from premature death.

Disability income - protecting our ability to earn income — everyone's greatest single asset.

Fringe benefits - making use of the qualified and non-qualified benefit plans currently available to us.

Estate planning - maximizing assets, minimizing taxes, and being certain our estate assets will be distributed the way we want them to be.

Business continuation - protecting a business should the owner(s) or key employees become disabled, or die prematurely.

At the same time, individual visions of the good life affect financial security needs and wants and planning decisions, and open avenues of opportunity for financial service professionals. Generational cohort is a significant factor in understanding these aspirations.

Matures worry about making what they have last for whatever time they have left — and that goes for even the most affluent members of this generation.

Boomers, as noted, regret their earlier extravagances, and want another shot at getting it right.

Gen-Xers, who look at risk differently than their parents or grandparents do, believe they can absorb any blow and battle back. In spite of having plenty of time, though, there are some risks from which no one can recover.

Generation Y is neo-traditionalist in many ways. Not cynical about marriage and having families, "they don't want to make the mistakes of either Generation X or the Boomers, to wait until the panic stage to have babies," writes columnist, Suzanne Fields.

Even the most astute members of these generations may be unfamiliar with financial security planning; many find the choices confusing. With so much at stake, indecision and inaction can be expensive. The questions about achieving financial security are not if we should plan, or which tools and techniques are best, but how much to do, and how soon to begin!

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