According to this 2010 report, The EBRI Retirement Readiness RatingTM: Retirement Income Preparation and Future Prospects , by Jack VanDerhei and Craig Copeland of EBRI.org: 47.2% of older Boomers (56-62) are at risk of outliving their retirement savings. And 43.7% of younger Boomers (46-55) are at risk of not having enough money for basic monthly expenses when they retire.
And considering there are approximately 78 million Baby Boomers in the U.S., we’re talking close to HALF of them fall into those statistics.
Therefore, those sobering stats have millions of Boomers currently wondering, “What can I do to generate income, full-time or part-time now and in the future, that is flexible, interesting, fun, possible to start on a tight budget, and possible to do way into my golden years?”
I wrote my latest book, “ Boomers into Business: How Anyone Over 50 Can Turn What They Know into Dough Before and After Retirement ”, to answer those important questions. In it, I explain how to take what you know, from your career experience or hobbies, to develop a “Topic Expert” platform that can lead to generating income through consulting others, conducting training seminars online and offline, and much more. (editor's note: It is an excellent book for anyone seeking to maximize their earning potential)
And it doesn’t matter whether you’ve been an employee your whole career or whether you are currently self-employed. Nor do a person’s education level, career background, or business experience matter.
Basically, most everyone knows something, from their professional background, life experiences or from a hobby, that other people will pay to learn about. Whether you’ve been an HR professional your whole career, or a construction worker, homemaker, lawyer, Life Coach, housepainter, or a lover of growing roses, you can monetize what you know to create a good income, in a wide variety of ways, full-time or on-the-side of your current job.
The bottom-line is that close to 35 million Boomers need to be making more money to put into their retirement accounts and will need to be generating money well past 65 years old! So, if you’re a Boomer between 45-67 years old, the time to start looking for ways to generate more income for your future security is now.
About Lisa Orrell : Lisa is known as The Promote U Guru , and is an in-demand Branding & Marketing Expert and Certified Success Coach with over 23-years of experience. Recently she was voted one of the “Top 30 Most Influential Brand Gurus in the World”, and she is also the recipient of over 75 National & International awards for marketing excellence. Lisa works with small business owners, coaches, consultants, entertainers, academics, speakers and authors. Plus, she herself is the author of 3 popular business books and a professional speaker who conducts presentations all over the U.S. And based on her expertise, she has been interviewed by, or written articles for, countless media, including: ABC, MSNBC, NPR, Wall Street Journal, NY Times, Cosmo, and Entrepreneur.com. For more info, visit: PromoteUGuru.com
Thank you Lisa for this wonderful guest post!