Retirement Challenges for Boomers.
#1 Challenge
Boomers aren’t saving enough in the short term to adequately fund the long-term time in retirement.
One of the challenges facing boomers retiring is Most have not saved enough money to live comfortably in retirement.
And because life expectancy continues to increase, so does the risk of outliving one’s savings.
Only 23 percent of boomers ages 56-61 expect to receive income from a private company pension plan, and only 38 percent of older boomers expect a pension. and future income from Social Security stagnates or even decreases
#2 Challenge
Social Security will soon be unable to provide full benefits.
Social Security is the most extensive single federal program in the United States budget (the retirement portion of the program spent nearly $800 billion in 2017).
Social Security Administration projects will deplete the Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) trust funds by 2034 and 2032, respectively. Upon joint depletion in 2034, 86 million beneficiaries will face a 21 percent across-the-board benefit cut.
As the enormous Baby Boom generation continues to retire in more significant numbers, The problem of outliving one’s retirement savings is most pressing for those already in or about to enter retirement. Although there is no natural substitute for a lifetime of wise financial planning and dutiful saving, options do exist that can help supplement one’s later-in-life income and emergency preparedness 
#3 Challenge
Underestimating healthcare costs
Retirees do not consider health care expenses, particularly long-term care costs.
Many think they can rely on don’t understand the system: Shockingly, 50% of those in the survey say they have not factored in the cost of long-term care insurance because they say they will rely on
Medicare. But Medicare provides no coverage for long-term care. Only 8% of boomers say they have purchased a long-term care policy.
The population is living longer, and health care should be part of our retirement planning, especially long-term health care.
#4 Challenge
Underestimating retirement income
When we are planning for retirement, we sometimes underestimate how much it is going to cost us to live on
The average amount spent by boomers 65-74 is $55,000 a year, but most baby boomers say they will need less than that to live on; they have not considered the increased cost of living.
The outlook for retirees may seem grim, but all is not lost; many viable options exist that can improve the outlook for retirees.
If you are near retirement, you could opt to work longer to start your retirement a little later; this could allow you to save some extra money, and if you have company health insurance, that would be an excellent asset for now.
If you are already retired, you could find some part-time work, and if you have owned your own home, you may consider downsizing and maybe renting out a room or a couple of rooms on Airbnb vacation rentals; I have friends who have opted for this option, and is doing quite well.
Then there is the option I have taken: to start an online business, and you can do so for free.
Affiliate Marketing
According to Wikipedia, Affiliate marketing is performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the Affiliate’s marketing efforts.
In other words, Affiliate marketing refers to a product or service sharing on a blog, social media platforms, or website.
You will then earn a commission whenever a purchase is made by someone who purchases through the unique link associated with your ad on your website or blog.
How does it work
Step 1: Choose an Interest. This can be anything, any interest, passion, or even something you have no personal experience with.
Step 2: Build a Website. Your website is your foundation.
Step 3: Attract Visitors.
Step 4: Earn Revenue.
Affiliate marketing is a low risk. Since you can join for free, you can start making money with an established affiliate product or service without any upfront investment.
Affiliate marketing can also become a passive income earner through commission as your affiliate links can continue to deliver a steady paycheck.
It is not a get-rich-quick business; initially, you’ll have to invest time in creating traffic sources. It is said being an entrepreneur is living a few years as most people won’t, so you can live the rest of your life like most people can’t
You may think you have no experience in online marketing, have no computer skills, are not educated enough, or are too old; I had those thoughts before I became a member of one of the best teaching platforms.
Wealthy Affiliate.
A wealthy Affiliate is NOT a new kid on the block. Wealthy Affiliate has been around for almost 15 years and has an A+ rating with the BBB, and our membership is worldwide; you will find practically every nation represented.
The lesson videos are presented in a manner that is easily understood, and there is no hurry; you can do the lesson at your own pace. There is no time limit to the free membership.
Premium Membership
Another membership level offers much more tools and information to enable you to succeed; premium members experience five times as much success.
You will build your site using the free domain name .siterubix. But after a while, you will need to purchase your domain name for about $13.00
You are probably wondering if you can succeed with a free membership; I have seen members on the free site for over 18 months and just how successful they are, but I do not know the answer.
But to show you the advantages of going premium, I have placed the tools and information for each membership.
With affiliate marketing, it is good to have many streams of income. With the premium membership, you will have that option as you get 10 websites, all included in the premium membership.
Affiliate marketing is not just for retirees; affiliate marketing is for anyone who wants to earn money.
I think it would be perfect for Gen X, millennials, and Gen Z. If they start earning extra and saving, they will better plan their retirement.
Here is a link to a blog post from one of our members; I hope you will read it
https://my.wealthyaffiliate.com/jerryhuang/blog/vegas-2019-thank-you-kyle-and-carson/a_aid/5373fe86
He is only 21 years old and is a super affiliate, and a super affiliate is an affiliate who earns at least $7,000.00 per month in commission.
In conclusion
I know it may seem complicated, but everything seems difficult until you learn how to do it; you can use me as an example; I am a retiree in my 70s, had no knowledge of affiliate marketing, no concept of blogging, and my typing was below average. Now I have two websites and holding my own.
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Wealthy Affiliate is a company that has the most updated information on affiliate marketing, and they are constantly updating their platform; it is a company that cares that their members succeed not only in affiliate marketing but in life in general, the community of likeminded affiliate marketers are ready to assist you in any way they can
The tech support is variable 24/7 and can be reached from your dashboard, and unlike some platforms, there is no extra charge for assistance.
And remember, you can join for free, and a free membership never expires. So why not give it a try? You have nothing to lose; if anything, you will have your website, which you can move to another platform.
You can become a free member by clicking on any of the links in this post, and I will be there to answer your questions and show you around. So join me, see you there.
Thanks for reading this post; I am happy to answer all your questions; leave them in the space provided at the end of this post along with any comments; I appreciate it, and remember to share.
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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