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Baby Boomer Entrepreneurs

Baby Boomers Launch More Businesses According to a report from the Kauffman Index of Entrepreneurial Activity, in 2012, almost 25% of all new business ventures were launched by “baby boomer entrepreneurs” 55 and older.  This is a pretty significant increase; in 1996, only 14% of new businesses were started by the baby boomer demographic. It makes sense if you consider some of the advantages of launching a business as a baby boomer in your 50s or 60s.  Older entrepreneurs...

Top 10 Baby Boomer Activities

Top 10 Baby Boomer Activities Baby boomers have adopted attitudes and lifestyles unlike any previous generation.  The 78 million diverse Americans born between 1946 and 1964 enjoy a variety of activities, ranging from aerobics and workouts to quality time with their favorite rock ‘n’ roll albums according to the U.S. Government Accountability Office. But there’s more to the generation that coined the phrase, “Never trust anyone over 30.”  For starters, aging baby boomers are unlikely to settle for their parents’ versions of...

Will Your Retirement Money Last?

A sound retirement income plan takes into account several financial risks, including the potential for the retiree to outlive his or her assets, the effects of inflation on future income, rising health care costs, and the uncertain future of the Social Security system.  For example, inflation increases the future cost of goods and services; inflation can also erode the value of assets set aside to meet future costs if the assets earn less than the rate of inflation.  In...

Selecting an Adult Living Community

Buying a home is an exciting experience.  This is true when you’re considering a move to an adult living community, too.  As with any home purchase, it is also important to consider location and community amenities.  With the rise of so many niche communities serving a variety of interests, this is a great time to search for the perfect home for your second act of life. Here are Baby Boomer Tips for Selecting an Adult Living Community: Make a...

Tired of Feeling Poor?

It’s no secret that more people in their 60s and older are sinking deeper into credit card debt these days. Why is this? I don’t think it’s because we’ve had so many emergencies (the common reason we all have credit cards, right?). I think the problem, in part, has to do with emotional well-being.   It’s because we don’t like feeling poor. At this point I should define this term, “feeling poor.”  Not easy. But it’s real, and I’ll bet...

Net Worth by Age: How Do You Stack Up?

Ask most people what their net worth is and they probably don’t know.  Show them how to calculate it and they’ll be dying to know how they compare to their peers.  USA Today just released a chart showing relative net worth for folks in different age brackets.  How do you stack up? Brian Stoffel offers instructions for how to calculate your own net worth by age, plus a basic analysis of what it all means.  Most importantly, he reminds readers...

7 Things We Spend Too Much On

Whether your goal is to increase your nest egg for that next vacation or leaky roof, chances are you’re spending more money than you realize.  It’s important to look at how you spend your money.  Do you really need the newest iPhone?  Is your old stove seriously such an eyesore?  Cutting down on certain kinds of spending can put more ka-ching in your piggy bank than you might expect. Here are seven unexpected things that most of us spend...

Don’t Retire, Reinvent!

We live in interesting times.  Many Americans, especially baby boomers, are still reeling from the economic downturn that began in 2008.  Some need income and are looking for guidance on how to reinvent careers that were unexpectedly tossed into turmoil.  Others retired but can’t adjust, missing the stimulation of a career.  As one commented on a job application cover letter, “My retirement was a mistake.  Help save my sanity, and I will surpass your expectations.”  Still others have always...

Financial Planning – It’s All In The Details

By Christopher Neubert— As a financial professional who believes in the importance of preparation, I have seen first-hand the very real need to prepare a single place to record all of the legal, financial and personal information needed when a loved one’s life ends.  By putting all these essentials in one place, you’ll be getting your house in order for those you love. Estate planning consists of three principal elements: A plan designed to provide for the disposition of...

Baby Boomers and Employment

By Donna Giachetti— The Great Recession has left many Baby Boomers wondering whether or not they can, or want to, retire.  According to the infographic below, as many as 39% will work part-time.  A staggering 40% say they will never retire.  That’s a lot of people continuing to work! Can the job market provide opportunities for four or five generations of workers?  The answer is yes, as long as you are flexible and creative in how you approach your...

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