Baby Boomers are in Trouble and You Should Worry
By Richard J. Roll
If, like me, you are one of those people born from 1946 to 1964,
there's something I need to tell you.
When I was in my twenties, I used to refer to myself as "the Kid."
Just last night in fact, I was reminiscing with a Baby Boomer friend
my age about the rock concerts we used to go to in New York's Central
Park every summer, when we were 17. Now, we were both saying, a good
new slogan for our generation might be "Don't trust anyone under 50."
Right now many Baby Boomers may be feeling as if, "those were the
good old days." and understandibly so.
Because we are all suddenly facing a world that's unlike anything
we've ever conceived before-a world profoundly different than it was
even six months ago. We are right smack in the middle of a perfect
storm the likes of which no generation (and certainly no American
generation of almost 80 million people) has ever had to face.
The U.S. economy and our nation's leadership role in the world are in
serious jeopardy. Most people have not had any increase in income and
buying power during the last economic boom. The Social Security and
Medicare Programs, and the health care system itself, are basically
on life support, and are simply unsustainable. Meanwhile, it's the
first time in history that a large generation of people can expect to
live more than half of their adult livesAFTER AGE 50. I'm telling you,
we're heading into totally uncharted territory here.
And let me tell you also, if we as a society (and as Baby Boomers)
don't get out of denial and into doing some more things right, it's
not going to be very pretty.
So, the good news is, we're going to live another 40 or 50 years. The
bad news iswe're going to live another 40 or 50 years.
And in the well-remembered words of Clint Eastwood in Dirty Harry,
You have to ask yourself one question, Do I feel lucky?
Because you and I both know that even a magic formula or silver
bullet in one area (money, health, marriage, etc.) doesn't mean
you're safe from the challenges in all the others (demanding,
delinquent children or grandchildren, family health issues, infirm,
aging parents, boredom, depression, anxiety, etc.).
I'm going to give you a taste of what
we're shortly going to be up against (if we're not there already).
And some thoughts of what we can do about it. To get the free report
that will change your life go to http://www.mybbrc.com/secrets/
Baby Boomers are right now facing a world that's unlike anything
we've ever conceived of. It's a world profoundly different than it
was even six months ago. We are right smack in the middle of a
perfect storm, the likes of which no generation (and certainly no
American generation of almost 80 million people) has ever had to face
before. Here's a taste of what we're shortly going to be up against
(if we're not there already), and some ideas of what we can do about
No Social Security: Can you afford to ever stop working? Will your
money run out? It very well could, if you start taking Social
Security too early (like at age 62). I have an analysis for you on
this you've got to see if you're going to have a chance of making a
good decision on when to start taking Social Security.
Healthcare Shortages: Medical research breakthroughs may make our body
parts work longer, but it's estimated that over 1/3 of the experienced
nurses and hospital administrators in this country will be retiring in
the next one to three years, creating a huge shortage of care. They're
burned out. And so are the veteran doctors and specialists. They've
all had it. They're tired of being beaten up by the health care
system, they're looking to find other ways to earn an income with
much less wear and tear. So who's going to take care of us? Many Baby Boomers have chronic
conditions of one kind or another, so maintaining our health and
keeping health care affordable are paramount issues going forward.
Struggle to Keep Current Standard of Living Through Retirement:
How are you going to keep having the income you need to maintain your
standard of living in retirement? A lot of Boomers want to keep
working in something, hopefully something they enjoy; but according
to statistics the odds are stacked against it. How can you have a
low-stress home-based business that keeps working even when you're
not? I'm working on some answers for this.
Real Estate Investments that Don't Pay Back: Many Baby Boomers
are over-invested in real estate, many with two homes, some investment
properties our equity has hit the skids, and I know you're asking
yourself, "Is it ever going to come back to the way it was?" The
answer is, probably not, in the relevant timeframe. It's not a happy
answer, but at least I have an answer.
Risk of a Global Financial Meltdown: Is there a high risk of a global
financial meltdown as Baby Boomers start withdrawing money from
mutual funds and 401(k)'s to move it into more fixed income investment
Global Competition: Will Global competition, delivering comparable
quality goods at bargain basement labor costs, completely do-in the
American economy (and our dollar) before we know what hit us?
Healthcare Costs Going Up: Health care costs for Baby Boomers on
average are twice as high as for younger people, and are going nowhere
but up in the future based on current trends. 85 million adults over
50 will be dealing with cardiovascular disease by 2015 according to
the U.S. Census. Their health care costs will be, on average, four
times higher than those for younger people.
Unwise Government Spending: Our government has been choosing
to spend trillions of dollars of our money in ways not necessarily
in the long term best interest of our generation, and utterly wasting
a lot of it, with a wanton corruption surrounding it reminiscent of
Ancient Rome. Meanwhile neglecting fundamental infrastructure issues
of our society-by blocking release of promising new drugs and
treatments, allowing people to die instead, failing to properly assure
safety inspections of commercial airliners-what are they thinking?
Who's minding the store-your store? Or is it just that the political
elite in Washington are going to keep having their way with our money
as long as they can keep their hands in the till?
Difficult to Cope with Challenges: With the combination of high
divorce rates among Baby Boomers, the "sandwich generation" reality of
dealing with the stress, health impact, and financial cost of caring
for aging parents, while coping with demanding children who have
often moved back into the family "nest," the old "nest egg" is often
not what it could have been.
Are there strategies that can make it easier to cope successfully?
Indeed, there are.
I've done a lot of research into these issues, and put together a
series of solutions and tools the Baby Boomers will need to succeed
in the difficult coming years ahead. I've committed to focusing my
energies for the next few years on how all of us as Baby Boomers can
live a significant, vibrant life from here on out, as well improve
our physical, mental, and spiritual health going forward, and
finally, leaving a more positive and heroic legacy, for our children,
our grandchildren, and for posterity-both as individuals, and as a
generation in history.
The BBRC is dedicated to making retirement easier. Go to
www.mybbrc.com/secrets/ to get your FREE report.
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