Starting an online business just might be the answer to the retirement financial crises Almost all of us know someone who is retirement age and unable to retire.
Why? Because most people don’t have enough money saved to retire on.
We can’t blame it all on the economy or the government,although I’m sure they are partly to blame.
When young and just staring out in life,saving for retirement is the last thing we think about.
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Most young adults are focused on buying a house or just moving out of their parents home.
Paying off student loans,getting the first car and so many other things that seem much more important at the moment than saving for retirement.
If you are already retirement age,working from home and being your own boss is definitely better than working for Walmart.
Baby Boomers and The Retirement Financial Crises
A baby boomer is a person born in the years following World War II,when there was a temporary marked increase in the birth rate.
The reason this generation is so popular at this time is due to the fact that this large segment of the human population are now of retirement age.
As stated earlier,many of them are unable to retire due to lack of retirement funds.
Therefore,at sixty and seventy years old they find themselves working at Walmart or some other retail store making pennies on the dollar just to make ends meet.
Starting an online business can help you create an easier life regardless of your current age. If you are young and not ready to retire yet,an online business can help you prepare by increasing your income so you can begin to save for retirement.
The easiest way to learn and grow is through watching the mistakes of others and knowing what not to do. Making your own mistakes can be fun but also very costly.
When it comes to the subject of retirement,taking a look at the plight of baby boomers today makes it easy to get a clear picture and perspective for what might be the solution for generations to come.
In April,2014 the Population Reference Bureau pulled data from the U.S Census Bureau which showed that there are 76.4 million baby boomers.
This population is moving very quickly towards retirement with no funds to support themselves.
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The crises is about more than just social security and/or what the government is going to do to help.
It’s about the quality of life we all live We will all be affected in some way by this crises since most of us will have mothers,sisters,aunts and loved ones suffering from this financial plight.
Saving to live comfortably in retirement was cited as the most important financial priority by Americans after saving money in general yet the majority ( 71%) are concerned they won’t be able to do so.
Many boomers indicated that they find it very difficult to keep up with bills and save for retirement at the same time (74%)
The efforts of many Americans to prepare themselves financially for retirement are falling dramatically short of what most say they want.
Baby Boomers (age 55 to 65) who are closest to retirement age,said they want to have $45,000 in annual retirement income,
but the nest eggs they have accumulated ($136,200 in average retirement savings)could provide $9,129 of estimated annual retirement income,leaving potential gap of $36,371.
Start an Online Business to Avoid a Personal Retirement Financial Crises
Closing the gap on the retirement financial crises means taking action today.
It means creating a strategy that will personally help you to create more income so you CAN save for retirement.
Since many people are barely getting by on a nine to five income,starting an online business can help to create additional streams of income.
Taking on a second job works for some people but it’s not always easy. Especially if you have small children and family obligations. The key is to find the right income generating opportunity and then make it work for you. Creating more income can help you to build wealth.
Wealth is having financial security to last a lifetime. It’s not about flashy cars and jewelry but living comfortably and being able to effortlessly meet your needs even in your golden years.
What does it matter if you have money to floss in your twenties and thirties only to be faced with moving in with your kids at age sixty because you’re out of money and Walmart won’t hire you because they’ve met their quota in hiring retired staff?
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Learning how to become a professional online entrepreneur is a great investment for building an online business.
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If you are serous about securing your financial future,now is the best time to get started since the future is always right around the corner
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