Baby Boomers Retire With a Golden Business Opportunity

baby boomerMany baby boomers will soon be reaching the ripe old age for finally retiring from years of hard labor. They will either take out from social security, personal saving, or everyone’s least favorite continues to work. It is a sad realization that a large percent of aging workers nearing retirement will not have enough funds for their golden years. Prices have risen in the past 40 years which means saving that are not up to 600,000 to 800,000 will not be enough to cover basic needs. Workers will now have to continue working since their checks are smaller and will not provide for them. A notable solution to this is something most people do not think about or even consider since it requires some funds.

Retirement Today: Providing Lucrative Options

But starting up a side business before or during retirement could save thousands of baby boomers more money and provide time. Yes, it would be considered working even after holding down a fulltime job for 30 or 40 years. But the upside is that the adult or better couples can create their own schedule and what they type of business they want. Much like adolescent choosing which college to attend, couples can apply their skill and hobbies in business that generates retirement funds. Retirement is meant to be a time for kicking back and reaping the rewards of hard labor.

Wants and Needs of Current and Future Retiree’s

  1. Most who retire will need to find another job to take care of their needs.
  2. Few people will every go into their own business if they have a low gross of income.
  3. In order to maintain a stable income after retirement the retiree should save over 400,000 or more.
  4. The life expectancy for born in the 40 and early 60’s has been raised which means money for healthcare and living will be high.
  5. Couples who go into a business venture together will earn twice as much as a person who starts alone.
  6. Aging Citizens can go into businesses that reflect their personal skills which will help create a fun place to work while making own decisions on times to work
  7. People who startup businesses after retirement do not have to worry about finding another worthless job.

This still can be the goal for many who are down with low profits in the market and meager checks. The first answer would be to use handy skills to apply to business ventures. People who love to act, cook, paint, sell, communicate, trade, or create homemade items can use these skills to earn more money.

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