Baby Boomers Retirement Bust

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Retirement Plans On Hold For Many Boomers

Retirement Dreams Up in Smoke

For many Baby Boomers, the dream retirement they had planned remains just that, a dream. Certainly the world economy shows no signs of a rebound that would help to put the dream back together again. Millions of Boomers, facing the uncertainty of possible pension cutbacks in both private and government funded pensions, are avidly searching for answers. Now that my security has been threatened, what do I do? How can I be in charge of my finances so that I can have a financial future?

To help with these types of questions and to take a look at the revisions in retirement planning and lifestyle being forced on the Boomers, and others, Retirement Life Coach Dr. Anita Bist has written a book entitiled “Masala for Retirement: How to Add ZEST to the Rest of Your Life”.

Masala is an Indian word meaning spices, and is an apt name for the interesting situation that the Boomers are in. Clearly they as a group are not having a lot of fun right now. With the way things have played out in their financial world lately, they are going to be looking for every opportunity to put spice into an otherwise boring and extended work career.

“According to the Pew Research Center, 60% of workers in their 50s and early 60s say they will have to delay their retirement due to the recession,” states author Dr. Anita Bist. “401K losses as well as underwater home mortgages are some of the reasons they give for their dream retirement plans going up in smoke.” When you look around, you will begin to see that Boomers are showing up in all sorts of job capacities and displacing much younger workers. This in turn will hold back future generations of workers and have long term effects on their retirement plans as well. “Due to the nature of the poor job market, baby boomers are finding that they have to take low-paying jobs in order to support themselves,” continues Dr. Anita Bist. “Many of them are stuck in houses they cannot sell, facing mounting healthcare costs as well as inflated prices on consumer products.”

To make matters even worse, many of the boomer’s children are moving back in with their parents to keep their cost of living down in these uncertain economic times. Bist’s  timely book “Masala for Retirement”, is filled with anecdotes and ideas on how baby boomers can reinvent themselves and start their own part-time or full-time businesses. These businesses can not only help to subsidize them in their retirement, it can provide them with a financially independent asset that they can pass along to their children. The author also suggests other strategies for retirement, such as retiring in a less expensive locale at home or abroad and downsizing the scope of the retirement plans.  In addition, the author includes planning tools and self-assessment questions that will empower the reader to create a possibility-filled retirement rather than one based on limitation.

Till Next Time….

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Sigrid McNab

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About Sigrid McNab

Sigrid McNab is the author of #1 Amazon Best Seller, speaker and the CEO and Founder of sigridmcnab.com. Sigrid specializes in blogging, attraction marketing, and generating highly qualified leads. Sigrid teaches people how to build a successful online business.

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One Response to “Baby Boomers Retirement Bust”

  1. Dagmar Wichary Says:

    I still think that Technology is partly to blame.We have not enough skilled workers anymore and most of the jobs they have done have disappeard. We just have to get used to it.Everybody is downsizing and there are not enough jobs around.I do feel sorry for all of them ,Babyboomers and the young Generation

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