Are baby boomers ready to retire? That really depends on a number of factors the most prevalent being one’s current financial status.
As I mentioned in previous posts, called The Baby Boomer Retirement Crisis, for people fifty-five (55) and over twenty-six (26%) percent of people have less than fifty thousand (50,000) dollars saved, and thirty (30%) actually have no savings at all.
Not A Very Inspiring Outlook
For many people this does not present a very pleasant picture at all. These folks are simply not ready to retire at all. Without an adequate pension or well funded retirement accounts, it is very challenging to live on social security alone.
Now we can review all the reasons why, but they do vary per individual based on choices made over the years. Many people were limited in their choices because of lack of adequate knowledge and the true nature of the financial game.
Obviously our school systems do not have a general curriculum which prepares people for the realities of life. Some people don’t even possess basic math skills by the time they graduate high school; knowing how to balance a checkbook and bank statements is considered a major achievement.
We value athletic prowess much more than basic education and critical thinking. Knowing “how” to think is much more valuable than learning “what” to think.
This reminds me of a very dear friend of mine who taught Political Science at several major colleges across the country during his teaching career. At one university he had four (4) students who were starters on the varsity basketball team in his class. None of them could read or write. These were all scholarship students.
This is not only amazing to me, but very sad. We put more value on the monetary value of athletics to a given school, than we do to preparing our kids with basic skills to enter the work force.
I digressed a bit from my main topic, but it does not take much thought to figure out why people in general are not properly prepared to manage their financial affairs in a way which produces a secure and prosperous future.
Critical Thinking Is The Key
It’s never too late to improve our critical thinking skills by beginning from wherever we are, and creating a viable plan of action to get us where we desire to go, one small step at a time. And I might add, enjoy the process as well.
The first step in the critical thinking process is to evaluate our present circumstances and accept them as they are. We now have a starting point.
Then the next step is to pause and reflect on where we want to go. What is our desired outcome? This will obviously be unique to each person as to the specifics, but if money is the issue, it will obviously be to create more through viable channels.
Next we want to evaluate our strengths and weaknesses and emphasize our strengths, and work around our weaknesses as we move forward.
Finally, as we move forward we must know this is possible, and ignore any doubts or failures along the way.
As I mentioned in one of my other posts, Make Money After Retiring, there are many ways to create additional income based on your interests and prior experience. Take some time to reflect on this, be honest with yourself, and decide on a plan of action which inspires you, and one which you will enjoy implementing.
Especially today with all the information available on the internet, you do not have to be tech savvy at all to access what you need to create the life you desire. The major challenge for most will being able to know and able to define exacting what they want.
Here a re a few examples from people whom I know who changed their careers late in life.
* I have a friend who left a traditional education job in order to start a bobywork career.
* A former neighbor who is a doctor had an accident which left him paralyzed and confined to a wheelchair. He started an online business offering advice and products related to his medical specialty.
* A very good friend and his wife sold all their possessions and bought property in Belize where the cost of living is much lower than the USA. They built a home there and established an organic farm for additional income.
* Another person I know started a business serving the needs of the elderly with a variety of services.
* A person who enjoys golf started an online golf newsletter where he offers various products and services, and has had this going for over ten (10) years now.
These are just a few examples from people whom I know who took their interests and skills and produced a viable income source. Once you do your homework, you will discover there are numerous ways in which to increase your income while enjoying yourselves.
For some other insights into what is possible in creating additional streams of income, take a look at my article called Baby Boomers and Marketing.
The Power of Our Minds
The only thing holding us back from finding ways to supplement our incomes at any point in our lives is ourselves. Our minds are so powerful, but they need to be controlled so that they produce what we want, rather than creating results by accident.
We possess this most powerful tool, but it did not come with a training manual. We were left to figure this out for ourselves. Unfortunately, many do not even know that they can gain control of this tool in order to create the life they desire.
The easiest way to train ourselves to manage our minds is by Presence and Observation. We do our best to remain focused in the Now, and observe our thoughts, emotions, and reactions.
This is not easy because of our currents habits, and inertia easily kicks in as well as resistance to doing something new. So be patient with yourselves and take it one small step at a time.
This is well worth the effort because once you manage to create enough presence you will automatically make other choices which take you in the desired direction, rather than random choices which have you going around in circles.
This Is Possible
No matter what you may now believe or what others around you say, you have the power to create your desired lifestyle. It will take some diligent work and persistence, but the truth is that it is most definitely possible.
When you truly understand this, and begin to make a few choices in the direction you want to go, you will feel a new vibrancy about life. The heavy load of worry and stress will begin to dissipate, and you will feel lighter and happier.
This is something which you cannot force. It’s a moment-to-moment process to create the change you desire. The resistance to doing this will dissolve over time.
Once you truly know and can conceive being able to do this, you are on your way. At this point, you will gain so much momentum that you will never turn back. You not only will improve your current financial picture and be ready to retire, but you will be on the path to Freedom and Joy. You will be having so much fun that you will probably not even want to be retire.
For those who want to explore the Online World as a vehicle to implementing a Game Plan for Change, Click Here for my recommended Online Training Program.
May you Create whatever you so Desire,