Let’s start with a simple question. Are baby boomers ready for retirement? In a word, no. If we define “retirement” as an extended period of living off of our savings, baby boomers are most definitely not ready for retirement. In fact, according to a report by Charles Schwab, 43% of baby boomers have saved less than $25,000 for retirement. That’s not small change, but, it’s insignificant compared to the cost of living over 20-30 years.
In previous articles, I covered how to improve your crafting skills and how to decide which items to produce. If you have already followed this advice, you should already be well on your way to building a successful business. Now, I would like to take a look at another critical step in the process – deciding how and where to sell your handmade items online.
By now, you’ve probably already heard of Tim Ferriss, the author of the New York Times Best Seller “The Four Hour Workweek.” If so, you may have the impression that Tim Ferriss’ advice is mostly aimed at people in their 20s and 30s who want to quit their job and travel around the world.
Baby boomers have diverse opinions about what makes the “perfect retirement”. In fact, most of us aren’t planning on retiring at all, at least in a traditional sense. Instead, the majority of baby boomers say that they want to continue to work past retirement age, either in their existing job or by starting a new career. The rest are looking forward to taking a well-deserved break after decades in the workforce.
Most baby boomers dream of owning their home in retirement. Whether they plan on staying put or moving to a new country, they find the idea of owning their home “free and clear” extremely comforting.
The concept of “retirement” has become deeply ingrained in many aspects of society. Thanks to decades of marketing from financial services companies, not to mention governments around the world, most of us have come to see retirement as an expectation, if not a right.
On the surface, having a retirement age is a fantastic idea. Who could argue with the concept that, after decades in the workforce, people should be able to relax and enjoy the fruits of their labor?
They say that money talks. Well, if the faces on our U.S. currency are anything to go by, it’s clear that money speaks with a male voice. On the surface, this might seem like a small issue. After all, does it really matter that every single dollar denomination features a male American President or Treasury Secretary?
Well, according to Women on 20s, getting a woman on the $20 bill would be a big deal indeed.
Baby boomers have always been masters of reinvention. In every decade of our lives, we have challenged the status quo and lived life on our own terms. Some have accused us of being selfish for exactly this reason. But, deep down, our attempts to reinvent ourselves were rooted in our desire to get the most from life.
The Great Recession, which officially lasted from December 2007 to June 2009, was hard on older workers. In the years following the financial crisis, people from all walks of life struggled to find work – and those lucky enough to have savings found them greatly depleted. The good news is that, on paper, the economy is on the mend.