Financial Disaster Looms For Baby Boomers

Over the last couple of years I've heard a lot of reference to the baby boomer generation. I'm coming up for 45 years of age, so I thought I'd do a bit of research into retiring baby boomers.
Seeing my husband and I are at the tail end of the baby boomers, preparing for retirement now, seems like a good idea. The more I research though, the gloomier it gets. I've got to say, I'm glad I've started looking into it now at my age, because I still have time to change things.

But really, we're never too old to change things.

By reading this article you will discover some of the challenges aging baby boomers are going to face and in many cases, are already facing. But, I'm also going to provide a possible solution to you, which I'm working on, and could also help you to avoid this apparent looming disaster.

A baby boomer by the way is someone who was born post World War 2, in-between the years of 1945 and 1966 approximately.

The average baby boomer got married and settled into family life. We had kids, sent them to good schools, colleges and universities. We worked hard and provided what we could and many times more than what we could, just so we could give our children the best in life. Most of us, didn't stop once to think about our own financial planning for retirement, until, it was too late.

Think about what age you would like to retire. Then realistically, think of your average life expectancy for your gender and take into account any health issues you may be having. Now, calculate how many years you will need to work to provide retirement income..... Pretty scary don't you think!

It appears the dream of retiring at 55 is just that, a DREAM! Even 65 is looking more out of reach these days.

In my research I found that in Australia alone, there are about 5.6 million people between 45 and 65 years of age and less than a million of those have a secure future in terms of their superannuation and their health funding. Surveys have found that baby boomers are not prepared for the financial demands of later life and many will have to get help from family or the government just to cover health care costs.

Aging baby boomers face the looming disaster of having to work for much longer and having to work a couple of casual jobs, because they can no longer secure full time jobs because of their age.

Aging baby boomers are going to become less and less employable. The way technology is going we are not going to have a clue of what to do in a job compared with younger folk growing up with technology.

Many baby boomers had children in their later years, so they could still be supporting a family as well as paying off a mortgage in their retirement years, with little or no income coming in.

Baby boomers may have to down scale dramatically, by selling their homes and buying much smaller ones, just to help make ends meet.

In the next 10 to 20 years for the first time in history, the elderly will outnumber the young. This could prove to have its own set of problems... Will there be enough aged care homes to cope with the numbers of aging baby boomers?

Saving involves spending less than what you earn. How can we do that if we have so many financial commitments and yet at the same time need to put away for our supposed "golden years".

And "boomers" don't think this is only relative to Australia, I found distressing statistics globally. I can't share all of my findings, there was just too much, so below are a couple of other issues to take note of.

In the Dallas News, Lisa Miller, a director at the Career Connection, said that in a support group for jobless professionals who meet weekly, boomers in their forties, fifties and sixties are in the majority.

The reality of the situation is, that for workers over 50, looking for a job is a struggle, it shouldn't be, but it is.

Ok, ok, enough of the bad news...

HOW CAN WE SOLVE THESE VERY REAL DILEMMAS HEADING OUR WAY

-Start putting some money away immediately on a regular basis.
-Organise a strict budget and keep track of what you're spending your money on. Ask yourself before you buy, "do I really need that".
-Cut corners where you can... do you really need 2 mobile phones (cell phones as they're called in other countries)... do you really need cable TV... cut down on the amount of times you go out for coffee or take aways... don't buy anything you can't pay cash for on the spot... keep travelling down to a minimum...
-If the home you're living in is really way bigger than you need, think seriously about down scaling for something cheaper and less maintenance.
-Think seriously about when you would like to retire, it may be wiser to extend those working years a little longer.
-Research what would be good options for part time work when you do retire to supplement your income, or if it's not too taxing on you, do something else to supplement your income now.

Well, I don't know about you, as much as the above suggestions will help, they don't excite me one bit.

I don't want to have a health concern that I can do nothing about because I can't afford it, I've already experienced what that feels like at only 45. I'm young enough to cope with it, but when I get older, I won't have the same stamina to carry me through.

I would like to keep my independence for as long as possible without being a burden to our children.

Be in a position to help my children financially if they need it, like my folks did for me.

I want to travel and still do fun things.

I would like a LIFE after retirement with my husband, not a death sentence.

I know it sounds pretty dramatic, but I'm passionate about these things and so should you be. You don't have to throw it all away.

My Solution And Possibly Yours Too

So here it is, I know you've been waiting for it. To avoid these looming disasters which have already started to creep up on my husband and me, I have chosen to do "Internet Network Marketing" from home, focusing more on creating a steady income as opposed to trying to save a lump sum.

Network Marketing today, with the right guide, is easier to follow and much simpler to implement than it ever was before, right from your own home computer. With step by step video training tutorials, you can build a network without even leaving home and without going broke in the process. I was quite surprised at the number of baby boomers taking to the internet. A survey confirmed 91% of baby boomers affirmed that computers are an important part of their lives, even more so than TV. The way technology is going, it's the place to be.

Network Marketing is my form of financial planning for retirement and if you're the kind of person who is not afraid of hard work and learning something new, it can be for you too.

So, here are your choices, you can either:

Click here to learn more about Network Marketing and see if this is a good fit for you.

Or

If you are already familiar with Network Marketing and looking for a coaching program which will take you by the hand and give you a step by step guide, to how you can effectively market your business on the internet without it costing you a fortune, Click here

Make your choice now, I'll be there to guide you on your journey towards happy retirement.

Helping you succeed.

Christine Blowes
Network Marketer/Consultant