17 Mai 2013
Baby Boomers Retirement Options
What are you going to do now that you've done your shirt in the latest bear market?
Baby boomers are actually doing things their parents never did. Luckily baby boomers retirement options have completely opened thanks to the good old internet.
For the generation before the baby boomers, retirement was pretty much all-set. They retired in their early to mid-sixties, lived on their retirement and social security checks, sold their homes, and either moved in with their children to spend the rest of their lives looking after their little grandkids or lived on their own, cultivated a garden, and developed eccentric habits. In the winter, they handed the house over to the good care of their children or the grandkids, packed up the caravan, and headed off to Florida, California, Queensland, Spain, wherever they could find warm weather.
Not Baby Boomers; "have laptop will travel" is their motto. At least it was until their retirement was all but wiped out in the latest and greatest bear market.
The Baby Boomer generation is known for its consumerism. Boomers have every toy going. This includes their ongoing fascination with the computer and the wonderful internet. Most Boomers do not have a natural affinity for the computer. For them it has become an acquired taste. They are lucky enough to have the odd teenager around to help them through the minefield that is the current computer. In fact teenagers are now being surpassed by their younger siblings. Six year olds have a natural affinity with the computer and instinctively it seems have solutions for all kinds of problems that will freak out your average Boomer.
Boomers, more than any generation before them are looking for freedom; freedom to travel around their own country and the world. Many of them are used to travelling to exotic locations at their company's expense; conventions, meetings, sales presentations, etc; freedom to do what the what, when they want, with whom they want. They are looking for financial freedom as well.
Unfortunately, the housing market debacle of recent years, the corresponding decline in world-wide share markets and the dwindling chance of any government being able to provide for their retirement, has left many Boomers in a bit of a pickle.
The retirement they were looking forward to has slipped out of reach. Now you'll hear many Boomers say "I've got lots of good years in me, I don't want to retire". The reality is that millions of boomers cannot afford to retire. They in fact have to work to pay the mortgage, the credit cards and all those other loans they have "accumulated" over the years. Truth is Boomers would love to be semi-retired, working part-time to supplement other income (property, shares, government assistance etc)
More and more Boomers are looking at starting their own businesses and are leaving the traditional workforce in droves to pursue their dreams of freedom and a grand lifestyle.
Luckily there are a host of self-employment options for Boomers whether they are cashed up or not. Let's have a look at some options. I have categorised several possibilities for Boomers based upon two factors; Chance of Success and Cash Outlay Required.
High Chance of Success, High Cash Outlay
If you want to have your own business and be assured that it will be successful then you are dreaming! However, given you are committed to your own success, and I imagine you are if you are reading this; a franchise system such as a McDonald's, KFC, Baskin-Robbins or Super 8 economy motels, is probably the safest bet you can make.
The advantage of this type of business is that they have a system in place - a system that works. They have marketing and advertising nailed and 99 of businesses fail in the first 12 months. After 5 years, 55 have failed.
OK, let's say you have the money and let's assume you are going to succeed. After all, if you are going into your own business your mission statement is unlikely to read. There is a 20. The masses, the other 98% usually stumble around in the dark. A lot quit before the losses become unmanageable but a lot of people literally do their dough, and lots of it!
High Chance of Success, Low Cash Outlay
So far I have talked about businesses where the chances of success are low or the cost of getting yourself set up is so large it will present you with a real challenge.
The good news is that for baby boomers there are retirement options that are not going to cost an arm and a leg and have a very high chance of success.
A quick search on "Google" will present an array of internet and home businesses that can be operated by the Baby Boomer looking to achieve semi-retirement. In fact, a lot of these businesses can be operated from a laptop which allows baby boomers to travel and make money.
Which business is right for you? Which low cost business will you be able to get up and running quickly and efficiently with great training and support?
There are a number of companies that the author looked at in June 2008 and the only one that met all the criteria was Liberty League.
Liberty League International is a Direct Sales company in the personal development industry and has a presence in 147 countries. It is a privately owned company established in 2001 and has seen phenomenal growth, especially since 2005, when the DVD, "The Secret" was released to the world. Personal Development and the Law of Attraction became accessible to all with the release of this movie later to become a book.
What makes this company so good?
1. Low start up for a business at around $22,500
2. High chance of success. Whilst it's true that a small percentage of associates make the really big money, a large percentage of participants make a multiple six figure incomes
3. The training and support available is second to none
4. The program is so simple anyone can follow it and make a decent income
5. The business can be run part-time from anywhere that an internet connection and cell phone range can be found.
Baby Boomers retirement options have opened up thanks to the internet. Now you know about a great part-time, home based business opportunity where a substantial income can be generated for life. Get in touch with the author today and never worry again about how your government is going to take care of you in your later years.