If you are in the 99% of people who have not saved enough for retirement, you need to keep a part-time job during retirement. Most people need to keep engaged to remain young and healthy. Most boomers also need to have a job to ensure enough income comes in to take care of the bills. Below are some suggestions on how to have enough income to pay for your bills in your later years. If you have been savvy enough, you have enough investments, pension and social security income to pay for all expenses. But, if not, you need to have a job to supplement your income.
Looking for a new job??
You need to use the web to find those specific new jobs that fit your criteria. You probably can find 1-3 new jobs a day and apply to each of them. It is key to look at all the criteria and make sure that you have a fit between what they need and what you can offer. Read more
Are you ready to retire?
Have you made a plan & implemented it so that you can safely retire?? Most people either plan themselves or use a financial advisor to plan it for them. The focus is on financial advise but retirement is much more than that. You need to look at the key things you will be doing, need during retirement. After all your retirement can be a long one of about 30 years and you need to be ready and focused as you implement your plan. Read more
My formula for developing a new business opportunity is to pose the five W’s and see if there is market and a real opportunity that needs filling. My five W’s are simple: what, who, where, when, and how. Answer those five questions and you can find out whether that hobby or opportunity is something worth pursuing or not. Let’s take an example and see how it works.
I would like to provide a service advocating for the elderly. As the 79 million Baby Boomers start retiring, there will be a big time need for services to help them in a variety of ways. As a matter of fact, 10,000 boomers are retiring every day. That is a lot of people who are in need of the services I want to provide. That is a big target population. Obviously not all need help and some will not look for it, but some will and you are there to help them. You have a large captive audience that is growing and looking for your services. By providing those services you are helping them and advocating for them. Services can run from providing advice, links and looking at issues as they come up. You can provide information on services such as travel, housing, work, savings, income, legal issues, and retirement issues. A key to making a business successful is to find if there is a need not being fulfilled and a big captive market that is looking for it.
Starting now and for the next few years as boomers retire, you can advocate to help them find the services that they need, when they need them at the local level: things such as advice, services, links, advocacy, and how to get them, key issues and what to do about them. You can also publish a newsletter that talks about issues and points to services to help them.
How to reach your audience: Use a website to provide advice, resources & links, and publish a newsletter. Advocating and advising you need to do locally so you can interact with seniors. As your business grows, you can expand your area. This two-pronged strategy can help you focus on the needs while growing your business nationally. You need to use a website, advertising and social media to reach your customers. Flyers and word of mouth also helps in getting the word out.
Now that I have looked at the opportunity, is it something I want to do?? Yes, it is and looking at the size of the market, it is a good opportunity for making money while providing a service that people need. Now, the only thing needed is to plan and implement ASAP.
What is your opportunity??
[cryout-button-dark url=”#”]Downsizing your home[/cryout-button-dark]
Once your kids have grown and are independent and you have retired from business, it is time to find a smaller, more appropriate sized home for just you and your spouse. Read more
Traveling on a Budget
When you retire, if the travel bug hits you, you can plan to travel to several places each year as the time and budget allows. A lot of people find that they don’t have the time or money to travel to exotic places such as cruises or far-flung exotic destinations.The best way to travel is it start small and plan several yearly trips around the country. Some daily or weekend trips can cost very little if you plan them well and research things ahead of time. Read more
[cryout-button-dark url=”#”]What are your new Year’s resolutions?[/cryout-button-dark]
Thinking about my new year’s resolutions got me to really take a look at myself, what I have achieved during 2013 and what my life so far and see what I want to do in this new year. The reason new year’s resolutions are soon forgotten or not started at all is that we make a lot of promises that we are not willing or able to keep. Read more
[cryout-button-dark url=”#”]Managing Your Finances[/cryout-button-dark]
Since I always liked numbers and I graduated with an MBA in Finance, I was always in charge of the finances in our household. I ensured all the bills were paid, balanced the checkbook, managed the savings, and invested for the future. My wife and I always discussed the options but agreed on a course of action which I then put into effect. Read more
[cryout-button-dark url=”#”]Do you prefer to own or rent your home?[/cryout-button-dark]
Own or rent, it usually means what you can afford. Can you afford the down payment and monthly payments for a house or do you have enough cash-flow to afford the monthly rent check.