Retirement Risks

Assuming you’re a member of the Baby Boomer Generation, you’re likely evaluating retiring – if you haven’t already retired.  And if you have already left work, you’re probably considering whether you’re financially able to remain comfortably retired.

Today’s economic crisis compounds the situation substantially by increasing some significant retirement oriented economic contingencies:

1. Life Expectancy Has Grown

People are living longer than their parents’ generation. For example, in 1970, a 60-year old white male had a life expectancy of an additional 16.2 years; however, by 2008, his life expectancy had expanded to twenty years.

So how is the retiree going to afford to pay for those extra 3.8 years? Following are several possible solutions:

> Accelerate pre-retirement savings

> Continue to work longer

> Move in with relatives

> Expect a reduced quality of life

2. Spiraling Health Care Costs

Adequately funding one’s health care programs are some of the most difficult financial planning tasks, mostly because health care needs are so person-specific, with needs differing greatly between spouses. Long-term care needs are even more difficult to plan for and fund.

Medical expenses have grown more than 5% (inflation adjusted) for the past 15 years – a rate that is greater than the increase in family income. Medicare costs will probably rise as well at similar rates.

3. Legislation May Limit Retirement Income & Supplemental Programs

It is well known that the expenses of major entitlement programs (e.g., Social Security, Medicare, and Medicaid) are growing more rapidly than other parts of the economy, and some experts question the long-term feasibility of these programs due to the combined effects of increased life expectancy, size of the Boomer population, and rising health care costs in general.

Moreover, current questions regarding ongoing health insurance throughout retirement, and at what financial levels, are rampant in today’s economy – and these questions are given even more fuel by auto industry, and other, corporate reorganizations.

We are still witnessing a lot of conversation concerning a national health care system – but such conversations have been ongoing for decades, with few results to show for those efforts. Although President Obama will be leading a national health initiative this year, most people anticipate a lot of opposition from Congress.

Many expect that seniors past age 55 will be protected from cuts in these entitlement programs, but maintaining complete coverage for them is a two-edged sword – doing so increases the probability of a new tax, which would ultimately add to retirement tax burdens.

4. Sometimes One’s Retirement Date is Dictated, and not Totally Up to the Individual

According to a 2004 Health and Retirement Survey (HRS), 37% of seniors are forced to retire. This can occur due to poor health or economic downturns, etc.

5. 401Ks Have Been Decimated

Did your retirement savings (including your 401k) take a major hit with the stock market meltdown in 2008? Mine did. Many comedians now refer to 401Ks as 201Ks because of the drop in the stock market. For many people, their 401k was the bulk of their retirement savings, so this stock market crash significantly damaged their retirement plans.

Humpty Dumpty Was No Financial Planner

But there is some good news. You can fix a broken egg – a broken retirement “Nest Egg,” that is.

You can work an extra year or two, take a part-time job or work from home to supplement your earnings, start your own business, etc.

If you’d like to start an online business, but are hesitant because you’re not an internet expert, a very good starting place for collecting all the knowledge about internet marketing that you will need to be successful is to sign up for the Online Success for Beginners classes.

A study by Butrica, Smith and Steuerle (2006) noted that working just one (1) extra year can augment annual retirement income by 9%, while working just five (5) extra years can generate an additional 56% annual retirement income.

If you’d like to learn how to create a supplemental income, so that you can have a luxurious, financially secure retirement, check out Darren Salkeld’s new MaxPro Marketing System and get his FREE Report and FREE Audio describing the age-old secrets of creating wealth.

Many people who are interested in starting an online business assume that because the country is in a major recession right now, this is not the time; however, I ask you to consider the facts:

1. For most of the big decisions in life, e.g., getting married, having a child, starting a business – there is never a “right” time; there is only today.

2. If you want to be wealthy, you need to own your own business – 93% of the wealthy do.

3. In 2006, Fortune magazine called direct selling, including network marketing, “the best kept secret in the business world” with a 91% growth over the previous 10 years. It has a market of $30 billion in the United States and $100 billion worldwide. By 2012, that figure is expected to reach 6 billion.

4. Financial experts call network marketing a “recession proof” industry.

5. Warren Buffet called his purchase of a network marketing company the best investment he’d ever made.

6. Tom Peters, author of In Search of Excellence, called it the first truly revolutionary marketing shift in the past 50 years.

7. Online businesses aren’t as impacted by the high cost of gas, parking or daycare.

8. There are significant tax advantages to owning a home business.

9. They’re generally easy to start – if you have a basic language skills and can point, click and follow directions, you have what you need to become successful in the world of online businesses.

10. The Web puts you in control of your financial future – no more depending upon your boss to give you a raise or promotion! The upside is great – you can make a lot of money.

Affiliate programs are doubtless the easiest paths to launch an online company, and most of them also include training regarding the product that you will be selling for them.

The difficulty with most online opportunities, however, is that their coaching is narrow, and typically centered only on instructing you on their product (s). Unfortunately, you will have to have more data and skills than that.

A excellent starting place for gleaning all the rest of the understanding about internet marketing that you will need is to enroll in the Online Success for Beginners program.

Don’t be discouraged if you want to start a new business – hundreds of thousands of new businesses will launch in the next 12 months; yours could be one of them. Isn’t it time that you joined them? Isn’t it really time to leave the 9-5 routine behind you along with all the related job stress?

Carpe Diem! Seize the day! Today is the day to start an online business .

Have you recently been downsized?

Have you discovered that this recessionary economy is making it very difficult to find a new job?

Current State of Affairs

If so, you’re in good company.  Since December 2007, the official beginning of this recession, more than 5.7 million jobs have ended.  According to the Associated Press (AP), after the May 8th release of the April, 2009 unemployment numbers:

• 13.7 million people were out of work in April, 2009, and that was the biggest number since 1948
• 539,000 jobs were lost in the month of April alone
• 8.9% unemployment (the highest since September, 1983), but if workers who’ve been laid off and just given up or taken part-time work, are included, that number jumps to 15.8% – the highest since 1994

If you’ve been unemployed for more than a month, you may be feeling frustrated, or maybe even a little panicky as you watch the pages of the calendar turn, with still no job on the horizon.  This is not just a short-term issue, there are long-term considerations as well (e.g., retirement, college for your kids).

There are basically three options in this situation:

1. Freak out
2. Continue doing what you’ve always been doing (the same things that haven’t yet found you a new job), or
3. Try something new

Option 1:  Panic

The first option, panic, is completely counter-productive, and ought to be avoided at all costs.  A little fear is a good thing; it can even help us save our lives in dangerous situations, by engaging the fight or flight response. Unlike a little fear, however, panic overloads our circuits and degrades our ability to respond to the crisis at hand.

Option 2:  Continue Doing What You’ve Been Doing

If doing what you have been doing had been successful for you, you wouldn’t be reading this article right now.  If you keep doing the same-old, same-old, you’re going to end up in the same place that you already are.

I don’t know about you and your industry, but people in my industry – good people – have been unemployed for more than six months, unable to find a comparable job to the one they left; or even, any job at all.  After diligently answering help wanted ads and sending out countless resumes, what results have they realized?  Zilch, nada.

Even when people find jobs to appy for, they’re not getting callbacks in this economy, let alone hired.

Option 3:  Try Something New

The third option – do something different – seems to be the only plausible solution.  But this option is so wide open, where to start?

Have you considered start an online business .

• Let this be the last time you have to worry about being downsized.
• Let this be the last time that you have to forfeit quality time with your family by bringing work home, working weekends, or having to travel way more than you’d like.

Take charge of your financial future; become your own boss!  Start a home based business!

One very good place to start for securing all the necessary knowledge about internet marketing that you will need is to enroll in the Online Success for Beginners classes.

Home-based businesses account for approximately 7 billion annually and provides many tax benefits, more control over your time, your work, and your financial security.  Essentially you’d apply the Law of Large Numbers to your individual situation, similar to the way that insurance companies apply that law to minimize their risks. Insurers reduce their loss ratios by sprading their risk across thousands or millions of policyholders.

Starting an internet business will let you reach thousands, and millions, of prospects allowing you to spread your recessionary risks across multiple people, regions and countries.   To minimize your recessionary risks, do like the insurance companies do – spread your risk across lots of people, regions, and even countries.while building a luxury lifestyle

Now that many people’s finances are getting even tighter due to the recession, the idea of making money online is getting even more attractive, and one of the first things many people hear about is something called “affiliate marketing.” While there is a enough information out there to overwhelm most people at first, the basic concept is fairly simple.

Market research is the first step in the process.

First, you must research markets you are interested in. This is your most important starting point, and you can do this by finding out what your potential customers are looking for. This is the essence of “keyword research” – finding the actual words or phrases people type into search engines to find answers to their problems, and you can be sure that if you do not do your research, you will regret it later.

By finding and using keywords that consumers are actively entering into the search engines, you will be able to help your websites and landing pages rank higher, generating a nonstop flood of organic, targeted traffic.

Keyword research doesn’t have to be a difficult task, however. Start with the free Google Keyword Tool, which can be found by searching for “Google keyword tool external,” and enter in a keyword or phrase that identifies the product or niche that you are interested in promoting as an affiliate.

Click on “get keyword ideas” to generate a list of keywords and gauge the competitiveness of the the market by taking a look at the number of times people are searching for your main keywords per month.

What you want to do is find a market with existing demand that also has existing competition and products readily available, but not so competitive that ranking highly is next to impossible.

What’s important here is that you remember there must be an audience for whatever you choose to market. Since you are an affiliate, your costs for entering a market are not very high, but it’s still a good idea to take the time to do niche research in order to avoid wasting your time.

For more information on market research and keyword research in affiliate marketing, particularly as it applies to CPA, check out the newly-released ZeroFrictionMarketing course.

To Your Success
Richard & Cheryl
815-299-2917

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