Comments on: 3 Golden Rules For Baby Boomers Retirement

By: Don

Don — Wed, 24 Feb 2010 15:04:49 +0000

Being financially prepared is more difficult these last few years since the recession. Many of us who thought were were in good shape found that some of our retirement money disappeared. Others are forced out of work due to company cutbacks. Still put yourself in the best situation that you can. One may have to readjust, but that is what life is. Keep your head up and focus on those things that you have a passion for. You may decide to link back with old friends or start a hobby. In fact, you may want to make money from your hobby to supplement your income back to where you wanted it to be.

Trust in yourself, your friends and family.

By: Al Kernek

Al Kernek — Wed, 09 Jul 2008 15:21:39 +0000

Unfortunately, most articles addressing baby boomer retirement overlook the financial realities of this generation – namely, that life, divorces and the economy have decimated 401K’s and home equities.

According to a June 24, 2008 report by the Center for Economic and Policy Research: The decline in home values has reduced the prospect of comfortable retirements for the majority of near retirees. “This extraordinary destruction of wealth will have tremendous implications for millions of families as they enter retirement,” wrote report co-author Dean Baker. “Coupled with a very low personal savings rate, this means that many people will only have Social Security and Medicare to rely on in their retirement.”

By some estimates, up to two-thirds of baby boomers will not have the financial resources to enjoy a retirement consistent with their current life style. They will have to work longer and settle for less. For them, retirement will mean learning how to stretch their dollars. They will also have to be open to making (sometimes dramatic) changes in their lives to achieve a “comfortable” retirement at a level supported by their income.

For the majority of baby boomers, retirement isn’t going to be like that of their parents. It will be more frugal, more innovative, and more active. But for a generation that wants to be the captain of their own time after grinding it out for so many years, they will find a way and continue to contribute to society.

By: Sheldon Vik

Sheldon Vik — Mon, 09 Jun 2008 20:10:01 +0000

A few years ago it seemed like retirement was a long ways off. We both had good jobs, a 401K, and felt like we had time to save enough to retire comfortably. How quickly time has passed. Both of our retirement funds have lost money and the future looks grim. We have decided needed a plan B that would continue to bring in money to supplement our savings. Instead of relying solely on social security and savings, we have decided to try our hand at network marketing. It took several tries to realize that not every network marketing opportunity provides the kind of security we are looking for. A lot of them only wanted to take our money and offered nothing but hot air in return.
Even though we are both computer “literate”, network marketing is a like entering a new job, and we realized we needed the support and help of a good, honest team to be a success. We have learned some really neat ways to market the five opportunities we have chosen. One of the first lessons we have learned is network marketing is just like any other job and requires hard work, time, and patience.