Boomers Still Have Work To Do
Many Boomers’ won’t be dusting off their golf clubs just yet. According to AARP’s Helaine Olen, “this generation still has work to do.” Even with Americans’ collective and astounding nest egg of $21.7 trillion, dispersed in IRA accounts, employer-based 401(k) plans and pensions, it’s still not enough.
Americans are living longer than ever before- 85 years on average with some living well into their 90’s. The point being, retirement can span a 20 year period or even longer. How long will your retirement funds last? You may have good reason to be worried about retirement.
Never Say Never
It turns out the generation that swore they would never grow old aren’t very good at saving. Research shows that 49% of Americans ages 45 to 65 don’t have enough saved to pay for their basic living expenses throughout their retirement. So working after you retire is going to be a necessity for many. Twenty plus years is a lot of leisure time. So why not keep working? You can earn extra income and not rely solely on your retirement savings where you could possibly run out of money before you run out of time on this earth. This way when you are really old and perhaps need your savings it will be there.
By continuing to work you may be able to postpone collecting Social Security until you turn 70 years of age which will benefit you in a big way. Your benefits will be much higher allowing you to continue the lifestyle you are accustomed to when you are no longer able to work. You spend your entire adult life working. Retirement should be all about doing the things you never had time to do when you were busy working and raising your family. It shouldn’t be about figuring out what you have to cut from the budget in order to survive. And the last thing you want is to be a burden to your children.
The average social security benefit is $1,230.50? Which brings up another important issue. Are you still carrying a mortgage? Do you have any other substantial debts? Eliminating debt should be your first priority and another reason to continue working. If you live in a city where the cost of living is higher than the national average, you may want to consider relocating to a place that is more cost effective.
“According to the 2013 annual report from the Social Security Board of Trustees on the financial status of the program, without policy changes, the combined Social Security trust funds will become depleted and unable to pay scheduled benefits in full on a timely basis in 2033. After that, Social Security could pay about three-fourths of scheduled benefits through 2087.” Bizrate
A Worry Free Solution
Working from home renders a superb back-up plan for beefing up your savings and taking the worry out of retirement. You can have the best of both worlds by gaining financial freedom and having the freedom to do everything you have always dreamed of doing. Travel to any sunny paradise you desire. Feel the warmth of the afternoon sun infusing your body with a healthy glow, the sand between your toes, the smell of the salty air that blows through your hair keeping the temperature just right as you gently sway in your hammock with a refreshing beverage made of exotic fruits and topped with a little umbrella. Or whatever suits your fancy. Say good-bye to the daily grind without saying good-bye to your dreams. 50+ are the largest group of Americans who have started or plan to start their own business. With your own home business you can:
- Be Your Own Boss
- Make Your Own Hours
- Get Started For Very Little Cost
- Skip The Frustrating Commutes
- Get Extra Tax Benefits
- Hold Off On Collecting Social Security Until You Really Need It
- Take All The Vacations You Want Without Financial Worry
- Spend More Time With The Grandkids
- And much, much more
A word of caution.
Not all home business offers are created equal. You have to do your homework or you could end up worse off financially than when you started. There are many good, honest companies out there that are truly interested in your success. Know what to look for before you commit. Look for something that you are interested in. Make sure you are aware of the time you will have to put in. Some opportunities require more time than others for you to be successful. Look in to the company’s reputatiion. Most importantly make sure the start up cost is low and will remain that way as time progresses. Make sure there is a training program so you are not fllying blind.
Born in 1963, Aleesha is bringing up the tail end of the Boomer generation. She works from home and helps others get started and find success in their own home business. For more information and help in finding a business that suits you go to: http://jtl1.toolsrock.com?9836