The retirement planning baby boomer has many things to consider these days. Which baby boomer are you planning on being?
As a baby boomer myself, when we started work, the age pension was the 'norm' for retirement funding. Expecting the 'government' to take care of us in our old age.
However,in our mid 30's early 40's, the 'government' soon realised the enormity and impact the baby boomer generation would have on funds. So the introduction of Superannuation Guarantee Charge in 1992 and the move towards 'private' superannuation.
Retiring poor or sick.... dosn't have to be an option.
Retirement prospects for the not-so-lucky generation.
Qualitative research done by Myra Hamilton, University of Sydney and Clive Hamilton of The Australia Institute, show how diverse retirement planning for baby boomer is. The gap between those with lower incomeversus the higher income earners and how their expectations are vastly different.
High income boomers tend to see 'retirement' as a change of pace, slowing down and working less. However they still expect to 'be involved' having more flexibility to pursue hobbies and leisure interests.
These are the ones who have wealth and are self funded retires.
On the other hand the lower income retirement planning baby boomers expectations of retirement is very different. The now, 50 - 65 year olds have virtually no wealth and will be relying on the age pension to 'exist'. Knowing they may have to continue working well past 'retirement age'.
If they can, they'd like to 'stop work' and spend their retirement years in leisure activities and very unhappy with the prospects of 'having' to continue working.
Baby Boomer Women
It is the baby boomer women who feel more hard done by than men as many have not been in a position to accumulate as much super as men due to their more intermittent engagement in paid work and their lower salaries.
In addition to the diversity between the Rich Boomer and Poor Boomer, the retirement planning baby boomer is up for more complex issues then 'just' income.
The question and concern is how to manage the baby boomer healthcare issues. Costs of health care, aged care and services available.
It's not too late.
Despite the doom and gloom for the lower income baby boomers. It's not too late. In your early 50's? You still have 10 good years to change your destiny and by putting in place a residual income programplan for yourself.
For the retirement planning baby boomer the question is: Which would you rather be: Rich Boomer or Poor Boomer?
So, what's stopping you from creating a passive residual income that can take you into your retirement years healthy and financially comfortable.
Decent Honest Hardworking People Frustrated with Current Circumstances
Now with retirement looming I see all around me decent, honest, hardworking men and women trying to figure out how to retire comfortably, or find ways to be at home with the kids, contribute to your family finances AND STILL have a life.
It doesn't have to be that way.
What I have found is so profound, I just HAVE to share it with others...
So are YOU fed up with having your choices limited by lack of money?
Do yourself a favour and take the tour for yourself and your families sake.... you are just moments away from changing your lives...take the tour now...
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