Top Concerns For Retired Boomers (Take Control Of Your Retirement Finances.

concerns of retired boomers
Top Concerns of retired Boomers.

Top concerns for retiring boomers

Many baby boomers, born between the years 1946-1964, have the lowest rate of poverty among all age groups according to the Census Bureau.

This group was born during the years of post-war prosperity.  They were also the generation of fighters trying to survive and thrive.

The characteristics of the baby boomers tell us they are fighters, self-reliant. And hard-working

But after years of hard work and it’s time to enter the glorious retirement age, they have to battle a new set of problems.

With inflation rising against the cost of living, it’s becoming harder for those living on a fixed income to pay their bills.

Because of this many boomers nearing the age of retirement are making the decision to delay their retirement until they reach their 70s and beyond in order to maintain their current standard of living.

And some of us who are already retired and had to go back to working and are looking for even more ways to earn some money to help make ends meet.

There are also retirees who own homes and would like to be able to use home equity as a way to supplement their income but are afraid of being scammed.

Being Able to Afford Retirement

According to this survey conducted by the AARP, boomers can’t afford to retire. In fact, nearly half of Americans 50 and over have $25,000 or less saved for retirement.

This article also suggests that many baby boomers don’t have a realistic view of retirement, and as a result, are not putting in enough effort preparing for it.

It has now become the norm to be working past age 65 because of economic necessity.

Many have also taken the necessary steps of ways to cut down on their expenses there are those who have taken the steps to downsize their homes in order to raise money for their retirement.

Will there be Social Security for me?

There is the possibility that Social security may not be around for the next generation.

Baby boomers now strive to live more simply, as they realize that their savings are not enough to keep them living the way they are used to.

Caring for their elderly parents

Not only do boomers have to survive on their pension but in some cases, they have to take care of their parents as well.

That’s a lot of emotional and financial strain put many baby boomers’ and along with the unpredictability of what the future holds in the way of their financial well-being, this could cause another kind of crisis which may lead to depression.

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Health Issues

Living longer is a two-edged sword. Because we are living longer way into our 90s in some cases, this increase in longevity has also increased incidents of illnesses and disability.

This means planning for our retirement has to include our health care needs.

And this planning should the expense for long term care. According to the Pennsylvania Health Care Association, Alzheimer’s disease.

  • An estimated 70% of people currently turning 65 will require long-term care in their lifetime, and they will receive care for an average of 3 years.

I am afraid these problems will not be going away, especially since most of us are still healthy.

We can only hope that Medicare and social security will continue to be available for us and for the younger generations as well.

There is a solution that I know can and will help to alleviate the problem of needing an extra job, as this solution, will probably not suited for all of us.

Working beyond retirement age

Because of illness or disabilities, we will not be able to stand the rigors of working outside the home.

The other solution is working from the comforts of your home, This can be achieved by working online.

All you will need is a computer and access to the web via a Wi-Fi hookup, and this hookup can be done by your cable company.

In today’s world and with today’s technology almost every transaction can be done online, and because of this, there is a lot of opportunities to make an extra income without the hassle of leaving your home.

I used to go shopping in a store and looked through all the merchandise, sometimes just for the sake of looking. But now it seems that brick and mortar stores will soon be a thing of the past.

There are several jobs you can do online, from teaching to a customer service rep, you could also offer your service. And many other things.

Working from Home

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Free Membership

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Phase 1How To create your Own website and create money
How to build your own niche website Phase 1 lesson 4

However, It is my opinion  that it would be in your best interest to upgrade to the premium membership,

Premium Membership

Members of the premium level show a 5 times more success rate.and for all that is included in the premium level the price is very reasonable here is a price option for the premium level.

And with the premium membership, you will also have access to some live training videos, these are given once per week but the lessons are archived so you can access them anytime you wish.

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Thank you so much for reading this post, hope you found it helpful and If there is anything I haven’t covered or you have any other questions let me know in the space provided below this post.

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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9 thoughts on “Top Concerns For Retired Boomers (Take Control Of Your Retirement Finances.

    1. Yes, Holly, it is and the great thing is you do not need to be an expert, at Wealthy Affiliate you are given all the information and tools needed thank you for stopping by.

    1. Hi, Jimmy, it is great information for anyone who is looking for a way to earn some extra money Please do not wait until you are about to retire, start your business now.

    1. Thank you for the compliment, it is appreciated, I let me thank you for the work you do for people like me who need the help in getting my site noticed. you are doing a fantastic job. about Wealthy Affiliate. there will be a black Friday sale coming up, so you can join for free before check it out and if you do like it you can become a premium member during the black Friday sale.

    1. Thanks, Kim I am so glad you found some useful ideas, I have retired myself and found living on SSS alone was no fun I hope you will make sure you have something to help you in retirement.

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