Boomers Retirement Income Is Inadequate. (It Can Be Fixed With This)

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Boomers inadequate retirement income
Boomers retirement income is inadequate.

 

Is your retired income inadequate?

 Retirement income reveals many people are living on relatively little — and their revenues are shrinking over time due to the high cost of living; Fortunately, action can be taken to elevate this situation. You can start your own business.

Living beyond your income cannot continue for very long without getting into trouble, you will end up borrowing or using credit cards with very high interest rates.

I know from experience that having to cut back drastically on your spending and doing without things that you have become accustomed to is hard.

How much retirement income do you need?

Everyone has different needs and lifestyles and situations, therefore, no one-size-fits-all answer to that question, as each of us is in a different situation.

We should spend some time figuring out how much income we need. Some experts suggest you can get by on 35% of your pre-retirement income and others suggesting you’ll need 70% to 80% of it.

When planning for your retirement finances, consider whether you will have mortgage payments in retirement, whether you’ll be supporting others, how costly your expected activities are in retirement, and also factor in healthcare cost, which is rising rapidly.

Increasing your income in retirement

Most of us will not be able to save the amount needed to retire comfortably but there are steps you can take to boost our retirement income.

For example, if possible, you can increase your contributions to retirement and other savings accounts.

Delaying retiring is another way to boost your savings, by doing so will mean your nest egg can grow while you defer retirement.

You might enjoy employer-sponsored health insurance for a few more years, too.

You might also be one of the many retirees who don’t stop working entirely. By working for a few years in retirement, maybe, in a part-time job, you can take some pressure off your nest egg and stretch your dollars further.

If you want to be your own boss by starting your business, you can create your business for FREE. 

You can have your own online marketing business if you are not familiar with online marketing, which is also affiliate marketing.

Affiliate Marketing

Wikipedia describes affiliate marketing as performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the Affiliate’s marketing efforts.

Affiliate marketing is hassle-free, allowing you to focus on marketing, sales, and making money. It’s perfect for beginners. No special skills are needed. And, the money-making potential only increases with the more experience you gain,

To Start Affiliate marketing:

You can get started with Affiliate marketing in many ways.

Here are a few that you can pick from:

  • Create a blog and use it to promote a product.
  • Create a YouTube channel and promote products” data-wplink-url-error=”true”>
  • Create an email list by creating a mini-website
  • Via Podcasting

Here are steps to get started with affiliate marketing using the blog method.

  1. Choose a niche for your blog.
  2. Choose the affiliate products that you can promote
  3. Create content around those products
  4. Drive traffic to your website/Affiliate post
  5. Focus on driving more traffic and repeating the process.

Blogging is one of the most effective ways to get started with affiliate marketing because it requires a minimum investment. You can learn everything about it in no time, especially if you have a good platform that provides everything you need.

From here on, what matters is how much dedication, time, and work you put in to grow your affiliate business.

Wealthy Affiliate

Wealthy Affiliate is a platform built for every affiliate marketer, whether you are new to affiliate marketing or have years of experience.

And you can become a starter member for free. And as a free member, you will get the first phase of a ten-phase online marketing training course, and each phase contains ten lessons,

At the end of phase one, you will be ready for business, here is a video of the walkthrough of the steps for setting up your website.

Wealthy Affiliate is a well-known platform that offers everything you need to start your online business in the same place,

Once you become a member, you will get free hosting and backup; if you are a free member, you will get 30 free keyword searches from one of the best keyword research tools and two websites.

Wealthy Affiliate was born in 2005 from the idea of two young men who had been doing online marketing when the concept was a very new idea.

In the 14 years of its existence, Wealthy Affiliate has grown to a membership of over 1 million;  members are from all over the globe, from every time zone.

The training at Wealthy Affiliate is geared to assist you in every way to be a successful online marketer.

You will be shown how to turn your passion or hobbies into profits, build your beautiful website, and the know-how to draw traffic to your website. And monetize your sites so that you can earn some money; the potential is endless.

I must let you know that there is another type of membership, the premium; this membership will allow you access to more information and tools that will enhance your success rate.

Here is a look at what is offered in both memberships.

As you can see, so much more will be available to you, and the price is very reasonable for all you will be getting.

I must remind you that online marketing is like any business; success will not come overnight, and it does take time.

It would be best if you had time to build your audience and gain their trust, which takes time; the good thing about online marketing is there are no bills regarding upkeep, maintenance, and salary. There is no inventory, and remember, you can start for free.

A free membership never expires; you will not be asked for any financial information; the only thing that is required is your name and email address.

I would encourage any soon-to-be retirees to start now so that your business should be showing some profit when it’s time to retire.

Affiliate marketing is not just for retirees, its for anyone who wants to earn some extra cash or own their own online business,

It is suitable for stay-at-home parents, college students, or maybe you are saving to buy yourself something unique and need the extra cash.

Affiliate Marketing will not only allow you to earn an income, but in time your income can become a passive income, become a member of Wealthy Affiliate and learn how.

If you need to make money quickly, then affiliate marketing is not what you need. (be careful of those quick money setups; most of them are scams)

You will need perseverance, learning, studying, sacrifice, and patience with affiliate marketing. But success will come.

How To Become A Member Of WA

You can become a member by clicking on any of the links in this post, and I will be there to answer your questions and assist you.

Remember, it is free to join, so why not take a look-see? It will cost you nothing, and if you would like to see everything that is included in the premium membership, I would suggest upgrading to premium within the first seven days of joining for only $19.00 for the month. If you like what you see, you can stay if not you can quit.

You will not be asked to commit to staying if you do not want to, but I know, like me, you will be pleased with what is being offered.

It is just great having you stop by; I hope to see you on the Wealthy Affiliate platform, you can leave your questions and comments in the space provided at the end of this post, and I will reply. Please remember to share. Thank you so much.

NOTE:  This post includes affiliate links, which, if clicked on and a product purchased, I get a small commission (with no increase in cost to you).

 

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