We were the generation that thought we would never grow old!
Just look at us now, retirements right around the corner or we’re already there.
Baby Boomers will have a very different retirement to that of our parent’s generation. 650,000 of us turned 65 during 2011 and 800,000 in 2012.1947 was the biggest birth year on record.
We are redefining “old age” the same as we've redefined other traditions during our lives.
Will the baby boomers reshape the notion of retirement?
You bet we will!
Not just because we want to, but for most it will be out of necessity.
Last year it was reported that the number of job seekers over 50 years old had risen by 50% in the previous 12 months to reach a 10 year high. This situation prevails and for many baby boomers finding employment is becoming increasingly difficult.
Not all of us are fortunate enough to have a pension and for those that do have a pension, many are finding that it will fall short of affording us the retirement we had anticipated.
So much for Freedom 55!
Thanks to the markets and world affairs, your retirement savings you spent year's building to help fund your retirement are not earning enough interest to keep pace with inflation.
Given that most Boomers need and or want to continue working, many of us are looking to self-employment as a way to provide a continued income or supplement our pensions.
Perhaps you see yourself as a Boomer Entrepreneur.
According to recent statistics many of us are using retirement to start our own businesses.
Statistics show that 15% of all businesses are started by the over 50s and that 70% of these businesses are still going after six years. This is evidence that self-employment is a viable option.
If the thought of working in your 9-5 job has lost its appeal, then it's time to start thinking "outside of the box".
Boomers can use the internet to build a home based online business.
Having a home based online business using the internet has never been easier and here are a few benefits to consider.
- Low starts up costs.
- No office or transportation costs
- Freedom to work where and when you chose.
- Tax benefits
- Less stress
The internet has opened up all kinds of possibilities to ordinary folk who want either to earn a supplemental income or even create very successful high income businesses. You can earn money in lots of different ways.
Here are some Internet Business Ideas.
1) Hobbies & Crafts
Look at your hobbies and interests. Can you build a business from them? You can use the internet to promote and market your products or you could teach others how.
2) Selling on eBay
Learn how to use eBay to sell items or products. Once you learn the process, you can buy and sell for yourself or sell for others and charge a sellers fee.
3) Sell on Amazon
Amazon is a great place to start a business as an affiliate. If you like books or if you’re an author, you can sell either your own books or promote books from the huge selection offered on Amazon. There are many other products that you can promote and earn commissions and Amazon provides you with many tools to help your business.
4) Start a Blog
A blog is the best place to start your online business. The internet is the place where everyone goes these days if they are seeking information. You can become an Infopreneur, most baby boomers will be an expert on something. Your blog can be about any subject you're knowledgeable about or that interests you. You don’t have to know it all but you can do the research and provide great information to your readers. You can then earn money from advertising and selling affiliate products.
That’s just the tip of the iceberg but I hope this gets you thinking of ways that you can get started on building your online business.
Here is my number one recommendation!
Once you have decided that building an online business is a great way for you to have the retirement income that you want, find an online business team that will help you build your business. I personally think our team is the best because we are Baby Boomers and we are building our online businesses together and helping others as we grow.