Baby Boomers – The Problem
The majority of Baby Boomers share a growing concern at their ability to ever retire.
Rob Fore posted this on Facebook recently. I shared it as did many others…….
“Did you know…
- There will be 10,000 65th birthdays, celebrated each and every day for the next 16 years! (Thanks to the Baby Boomer generation.)
- People reaching age 65 have an average life expectancy of an additional 18.8 years (20.0 years for females and 17.3 years for males).
- The median income of older persons in 2010 was $25,704 for males and $15,072 for females.
My thought is…
When people “retire” their income tends to go down. MOST will have to downsize in some way to be able to afford to live another 18.8 years… OR… they will look for a way to make money online BECAUSE they are pretty much unemployable due to age AND it is much less expensive to start a home-based, internet-based business than it is to start a local brick-n-mortar business. “
I am sure this share by Rob is not new to you. We are all familiar with the problem, especially if you are like me a baby boomer.
Boomers are worried about living too long… not having enough savings…wanting to travel… yet cannot see how to do it.
Baby Boomers need to think differently
I worked as a financial planner for some time and we used to help people plan for their retirement.
We calculated how much people needed to have invested to live a comfortable retirement. For many of us much of the nest egg we had saved was eroded or lost during the Global Financial Crisis.
This is where the thinking needs to change. Rather than a baby boomer thinking “how will I retire?” they need to start asking how they can build another independent income stream.
The reality of many retiring has gone but there is another way. A way that can be very rewarding.
I am not referring to getting a second job or any other employment. I am suggesting that baby boomers in this position need to build some sort of home based business.
Baby Boomers – the solution
The answer is to create a stable, location-independent income, from anywhere in the world. This way you can travel and continue to earn as long as you have an internet connection.
There are many home based business models and opportunities available but it is important to pick one you can do from anywhere in the world. This way you can achieve your goal to travel if that is important to you.
If the idea of starting a business at this stage of life seems overwhelming it does not need to be. There are systems that are simple to follow and you can plug into. It is important to pick one like this and also one that is lucrative.
I also have a video and a bit more information on my other blog. You can find it here.
It you are a baby boomer who is in this position I am very happy to talk to you about when I am doing and how I can help you.
Please leave me your comments below and if you found this valuable please share, I am sure there are other baby boomers that are looking for solutions.
Make it a great day.
For more information about what I do check it out here.