Will You Be Ever Able To Retire?
The question many of us ask ourselves will be ever able to retire, and the unfortunate answer doesn’t look good for us boomers.
New data reveals that Baby Boomers are not financially able to cover financial emergencies. According to the Insured Retirement Institute and published on MSM It states that approximately 70% of older workers have just $5,000 or less in immediate savings,
And that means not only will they not be able to cover any unforeseen emergencies, but retirement seems to be out of the question.
How we will survive needs to be asked, and an answer found, and proper steps taken to come up with some strategies before the day of retirement comes.
With the increase of life expectancy, we live 25-30 years without having an income or any hopes of earning one.
With the workforce getting younger and almost everything is being automated is becoming more difficult to find a job that an older adult can do.
The Charles Schwab brokerage firm has published a retirement planning rule-of-thumb that takes clear notice of inflation’s effects. It suggests you will need $230,000 in retirement savings in today’s dollars to provide $1,000 in monthly income during retirement. So, for example, if you want to add $4,000 per month to your Social Security income, you would need $920,000 in retirement savings and investments in today’s dollars.
The problem with this planning is that no one knows what the inflation rate will be by the time you reach retirement age, so I think it is impossible to predict just how much it will cost to retire.
A better addition to retirement savings is to have a steady income flow to supplement whatever savings you may have. (FREE business startup)
This income flow could be other investments you may have or owning your own business. It doesn’t have to be anything that will cause you to be caught up in the everyday grind of the working world.
With the explosion of the internet, there are many ways to make a steady income online.
For instance, online marketing is a method by which you will advise merchants on goods on your website and receive a commission whenever a purchase is made through any of the affiliate links in your post. ( start an affiliate business for free here)
You may know nothing about online marketing. Maybe you are like I had no knowledge about online marketing but have no computer skills except entering data and not very fast either.
I joined the Wealthy Affiliate platform (you can join for FREE). It is a platform that was built to accommodate everyone that has an interest in operating an online business.
It does not matter if you are new to online marketing or a successful marketer with years of experience; there is a place for you at Wealthy Affiliate.
Some people have been a member of Wealthy Affiliate for over 8 years; they are because they have built a successful business.
Not A Pyramid Or MLM
This is not a pyramid or an MLM business where you have to get people to join and create a downstream whereby you get a commission based on every person your requite brings into the company and on their sale,
I have a post from a young man who has been a member of Wealthy Affiliate since 2008; here is one of his blogs about Wealthy Affiliate; you can read what he has to say here.
As I said, you can become a member for free, and there is no expiration date to free membership; there is no contract with any of the memberships.
And if you upgrade to a premium membership, you can stop anytime, and there is no penalty.
The premium billings is broken down so you can decide what is best for you
I used the free membership to start my business, then I went monthly and then yearly
This is something you can look into the here is a list of the information and tools that come with each membership
So you can see the value in going premium, but the decision is yours to make. Now I must tell you that affiliate marketing takes determination, good work ethics, and patience; success will not come overnight; it will come.
The Wealthy Affiliate platform will guide you to success with step-by-step training; you go at your own pace, there is no competition, and the lessons are always there, so if you forget something we humans are prone to do, you can go back and look at the information.
Affiliate Marketing is not just for near-retirees or retirees, and I believe that affiliate marketing is for everybody, the stay at home mother who wants to spend valuable time with her family but needs that extra income to be able to make it happen,
The College graduate who has a large amount of student loan and it seems payments for that loan will never end, a young person who wants to have some extra cash to do some of the pleasures of life, like traveling or taking a special vacation.
The affiliate business may not be a quick fix, but once it is established, you will relax a little as these earnings can become a passive income earner.
You have nothing to lose in becoming a free member, you will go through phase 1, which is 10 lessons, and at the end of these 10 lessons, you will have a working website up, running ready for business.
In joining Wealthy Affiliate, you are not committing to anything, you can become a member by clicking on any of the links in this post, and I will be there to welcome you to our awesome community; I will be your mentor, and you will have an awesome group of people who are willing to assist you in any way we can.
Thank you for stopping by. I really appreciate it; please like and share, and if you have a question or a comment, please leave it in the space provided, and I will reply ASAP.
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).