George Kyros | marloo
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6 months ago

Baby Boomers Face Uncertainty!

Jul 4th 2010 at 8:04 AM

you were born in that era after the Second World War, between 1946 and about 1964 then you are a Baby Boomer.

Approximately 78.2 million Americans were born between 1946 and 1964, according to the US Census Bureau.By 2030, all baby boomers will be 65 or older.

Most boomers have, until recently, expected that, like their parents that they could retire at age 65, collect the old age pension to take them through their golden years. Now they find that governments are looking toward a later retirement age.

In Australia anyone turning 65 is seriously encouraged to postpone retirement until they reach 70, at which time they will receive a “bonus” of around $A 30,000 as a “reward” for paying taxation and not receiving a pension for an additional 5 years on their working life. The hard truth is that up to 49 per cent of baby boomers believe their main source of income after retirement will be superannuation.

Statistics show that the average superannuation on retirement for baby boomers will likely be $65,000 or less.

The numbers show an emerging gap between the amount people have saved for retirement, and what they will need. This before taking into account the recent stock market crash which will compound the problem.

A 65-year-old retiring last month with let’s say $100,000 superannuation, would have an annuity that would pay about $600 to $700 a month for the balance of that person’s life, based on current interest rates. Many of them are turning to the internet and trying to negotiate the minefield of businesses on offer there, and run the risk of losing what little investment they have available. My advice to them is to choose wisely.

They should avoid MLM and affiliate marketing ( at least as a primary business) I suggest they do what I have done – select a “top tier” business that offers high commissions, comprehensive training and personal coaching.

Getting started is so much easier when you have a mentor to show you how!

Some investment should be expected, as the saying goes “you need to speculate to accumulate” and finally it is important to stick with it. Most new marketers quit within 90 days. They give up too quickly before they see any results.


Please to comment
Oct 7th 2010 at 5:05 AM by Siamak
interesting and rather unimportant stats! Enjoyed reading your article, sir! Thanks
Sep 13th 2010 at 7:17 AM by deewest
I am a Fellow Baby Boomer Interesting Stats Best Wishes to Your Success!
Aug 24th 2010 at 7:40 AM by marloo
Thanks for the comments Richard, you are accurate in your assessment of the transition from employee to business owner.Training is essential and is an obligation for any sponsor of a "newby" to follow up and make sure it is provided. I am not familiar with the book you reccomend, but will certainly search it out.
Aug 22nd 2010 at 1:40 PM by RichMcKelvey
The greatest problem that I have seen from the Boomer generation, is people trying the transition from the employee model to the business model. It would be natural for them to quit within 90 days because they do not have the proper training to start with. I always recommend the book by Michael Gerber "E-Myth Revisited" to anyone just starting out in business. I have been in my own business for 40 years, and I would not know how to be an employee, so how can one expect someone who has been an employee for 40 years automatically become a business person.
Aug 7th 2010 at 9:38 PM by TimRR
Very good information as I am a baby bommer and you are right. If you have everything paid off (just have your living expenses) it still will be a tight income to live with.
Aug 7th 2010 at 5:39 AM by marloo
Actually Chuck,I was born in the same "gap" and we do have a name. We are THE BUILDERS (don't ask me why). I find the rest of your comments very interesting, and truthful. Most of the "millionaires" we read about in internet marketing are in the category of being legends - in - their - own - lunchtime. This isn't to say that there aren't marketers who have made it big, there are, but they are in the minority
Jul 28th 2010 at 10:11 AM by ChuckBartok
I always feel left out of these conversations...Not a Baby Boomer. Born in the Gap Period.. We don't have a name. I do agree with some of your premises. That is why I have formed a couple of solid Marketing Mastermind Communities. Our members focus on creating businesses they CONTROL. Also have learned to live a more simple Lifestyle, rather than relying on High Income to support Paying the Dummy Tax ..INTEREST It is enjoyable to know that one can be solvent, in spite of the Vagaries of the poorly manged Government. It take so little times, lot of Energy, and Belief in Self

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