Baby Boomer Commandments – 6 Golden Rules They Stuck To

The baby boom generation marks a group of nearly 20 years where the birth rate rose dramatically and over 77 million babies were born. Since then, the birth rate has returned to normal, but the influx of people into society was astronomical. The baby boom generation has been an important part of the American culture. They have defined many of the current beliefs, became law makers and politicians and have served this country.

However those born between 1946 and 1967 haven’t always been given the best monikers. They have been considered self-righteous and self-indulgent being the complete opposites of their parents who sacrificed to make their way in the world.

Baby boomers have fought against the negative stereotypes. Baby boomers lived through a time that was vastly different than any other. They saw pointless wars being fought, destroying lives and family. They fought to relieve their families of poverty while trying to gain education to create a better lifestyle.

The ideals of this generation created The Boomer’s Six Commandment. These rules defined what the baby boomer generation was about and how they lived. Most of those born during this era followed these ideals, but not all. Every generation is defined by the circumstances and experiences they have to deal with. Think about everything that happened in those years: Vietnam War, Civil Right Movement and the Energy Crisis.

1. Be trendy and hip. Some think a major problem with the baby boomers is not being able to grow up. This is seen in a variety of ways. There are those who try to reverse the aging problem, which will never put plastic surgeons out of business. Baby boomers sometimes get frozen in their own era, dressing and acting like they have for 20 years. However, there are other baby boomers that move on with the fashion times, wearing and exemplifying what it means to be cool.

2. Being relevant is important, so accept the changes. Everything moves on and even the baby boomers couldn’t keep the culture stagnant. They learned wisely that it is more important to accept the culture that is changing around them rather than fight it. This can be seen through many different ideals of the baby boomers.

3. Be an individual. There were so many children born in that time period that it is easy to lump everyone into one category. However, the baby boomers won’t allow that. Being an individual is just as important as supporting the greater good. The baby boomers lived through a time of enormous change and have created radical movements that have transformed this country.

4. Create a new history. What happened in the past doesn’t seem to matter to baby boomers. Everything they did was done for the first time, at least that is what they all want you to believe. Baby boomers view their generation as a milestone creator leaving no room for any previous generation to have a significant importance. Occasions that happened in the past are just that – history – and have no place their lives.

5. Don’t be a sell out. If you become a sell out, you will lose your baby boomer card. Just because they are living the American dream as white, middle-class folks doesn’t mean that is what they feel deep down in their heart. They will always be revolutionaries who are willing to change a generation at the drop of a hat.

6. Always question authority. Baby boomers had a difficult time of trusting anyone older than them. It meant they wouldn’t listen to cops, priests or their parents. This was the care-free generation who couldn’t trust anyone, just each other. Baby boomers didn’t follow the rules, they made the rules. They weren’t going to be told how to live their lives.

Many Baby Boomers Must Overcome Loan Qualification Obstacles to Buy Retirement Home Bargains

There is a bonanza of attractive retirement homes available to Baby Boomers at bargain prices. Making “lemonade out of lemons,” many Boomers are seeking to take advantage of the foreclosure market to purchase a retirement home that was unaffordable just a few years ago. But because of restrictions put into place to counter “buy and bail” abuses, they are finding it difficult to get a new loan when they intend to convert their current home to a rental property because they cannot sell it in this abysmal real estate market.

Because so many buyers who are upside down on their mortgages were qualifying for new home loans by producing bogus rental agreements on their current residence and then walking away form the old mortgage once their new home closed, lenders have implemented stricter loan qualification rules to prevent this practice.

Fannie Mae and Freddie Mac underwriters now require that buyers qualify on the mortgages for both homes. To get a new loan, buyers must have a 30 percent equity (25% for Fannie Mae) in the property that is to be rented and a valid 12-month lease (with security deposit) to be able to use 75 percent of the rental income from the old home. And up to a two-month mortgage reserve (on both properties) may be required. If this criteria cannot be satisfied, then borrowers must qualify for both homes, have a valid 12-month lease (with security deposit), and six months in reserves for both mortgages. Plus, rental income cannot be used to qualify for the new loan.

FHA-insured loans now require a 25 percent equity stake in the property to be rented (along with a valid rental agreement and verified security deposit), but do not impose reserve requirements. Regardless of which organization is backing a loan, qualifying income and assets are closely scrutinized and must be well documented. And of course a decent credit score is a must.

Thus, Boomers planning to rent out their current residence and buy a bank-owned property have to first obtain a legitimate one-year rental agreement for their current home. Typically, this involves moving to an interim residence and possibly placing some household goods into storage before getting a lease on their now vacant home. And if they are upside down on the equity in their former home, their income has to be sufficient to qualify for both properties. Moreover, they will likely be required to set aside six months of reserves to cover both mortgages…and that is a big chunk of money that Boomers seeking to retire will not have access to for a long time.

Of course, one way to circumvent these onerous loan hurdles is to pay all cash for a new retirement home. Those who have paid off the mortgage on their current home can sell it (a big “maybe” in today’s market) and use the proceeds to buy a new home. Or, they can possibly take out equity to pay cash for a new home. Many Boomers also have retirement savings that can be tapped to make an all-cash purchase. These lucky few enjoy a formidable advantage – who cares if you rent your old home at a break-even situation or even a negative cash flow if you don’t have to satisfy underwriters?!

But what about the majority of Baby Boomers who have seen their retirement savings sliced by 50 percent or more and their home equity evaporate? Are they out of luck? Not necessarily, but they will have to work harder to finance a bargain retirement home. Here are some avenues for Boomers to explore:

  • Many homes will be able to generate a positive rental cash flow even if the mortgage is upside down. Check the rental demand in your area by talking to local property management firms and rental agencies, then do the math to see if you can buy a desired retirement home based on qualifying for both properties.
  • If you can put up a large down payment on the new property, you may be able to get a private investor to come up with the balance and essentially buy the property “for cash.” Investors figure you’re not going to bail on the new residence if you have large equity stake in it.
  • A local lender who retains loans rather than reselling them may have less strenuous qualification requirements, especially if you place a down payment on the new property of 30 percent or more.
  • Look into new 40- and 50-year or interest-only loans that offer lower payments and possibly more lenient qualifying criteria. Just be prepared for the balloon payments or rate adjustments that usually accompany these loans.
  • You could do a loan-free 1031 exchange with someone who has a house you like and wishes to move to your current location.
  • Get your grown kids to help you come up with an all-cash offer.
  • Look into offering your current home under a “lease/purchase” option to entice renters and boost rental income. Here, the renter typically pays more each month to build up a down payment that allows them to purchase your old residence at either a pre-agreed price or current market value at the time of sale.
  • See if your current lender will reduce the principal and/or interest rate on your mortgage to make your financial profile more appealing when applying for a loan on a new retirement home.
  • If you have rented out your old residence for at least six months, it could qualify as an investment property and you can avoid “buy and bail” qualifying restrictions in acquiring a new loan! In some cases, it may pay to rent your new home (perhaps under a lease/purchase option) or live in an interim residence for six or more months to enjoy more lenient underwriting.

Other avenues to explore are:

  • New home developers eager to unload inventory may have “buy downs” and other financial programs that circumvent or alleviate tradition loan qualification criteria.
  • Lenders are becoming more open to “short sales” as the financial crisis deepens. See if your lender will work with you to unload your upside-down property in a fashion that doesn’t damage your credit score, thereby allowing you to later qualify for a new loan on a retirement property.
  • Find a knowledgeable Realtor who will work with you as a “buyer agent” to help you negotiate a good deal and run interference with lenders.
  • Some areas of the country offer special financing from local lenders or civic government to entice Baby Boomers looking for retirement homes.
  • You could just rent a new retirement home and retain your cash reserves for emergency funds, market investments, etc. Then, what you do with your old home is then up to you – sell or rent it out, or just walk away from a hopelessly upside down loan.
  • If you are a veteran, check into VA and special state loan qualification programs. They may be able to help you or offer suggestions.

Just a note on bailing on your existing mortgage – avoid this action unless you have no other choice. There are lingering consequences, including the inability to get a new loan for 4-5 years and possible legal actions. Although there are loan qualification hurdles for most Baby Boomers seeking to buy retirement homes at today’s bargain prices, don’t give up. Talk to a knowledgeable mortgage broker, loan officer or Realtor to see what options are available. One thing Boomers have learned over the years is that if you are persistent, there is usually a way to make something happen. And there has never been a better time to do buy – the foreclosure market presents a rare opportunity to retire in a home that was previously was out of financial reach for most Boomers.

Baby Boomer – Four Business Ideas For the Industrious Baby Boomer

There are literally hundreds of ideas that can be transformed into successful small businesses by diligence and industrious hard work. Four of the business ideas for industrious baby boomers may be as simple as:

1. Starting a kids’ clothing resale business. You can begin by looking through your kids’ closets. Find rejects and clothes that no longer fit, and sell the discards on eBay. You can soon expand this to a full-time business. Most people would like to buy fashionable and quality clothes for their children, but may not be willing, or able to spend a large amount of money on them. You can help parents keep up with rapid growth, without the need for a lot of expense on clothes. Sell used, but proper clothing either online or consider opening your own store from home. Think about adding other baby necessities such as strollers, bassinets, cribs and so on to your product line. You can either buy the items outright, or take them from neighbors, family, dress makers and knitters or buy as bulk from thrift stores or garage sales in the areas around you.

2. Becoming a virtual assistant. A virtual assistant is an independent contractor who provides administrative support or specialized business services through the Internet, fax, or telephone. They can provide special skills for some particular project; or fill the gap during sudden business growth. The virtual assistant can become indispensable to the office staff. You can work as a secretary, an executive assistant, a data entry operator, a clerk, a tax advisor, an accountant, or a medical transcriptionist. You could play a role in web designing and promotion and much, much more. A VA is not an employee but is a small business owner who handles the work on a project basis. Experience in office management and in handling computer systems and software can be of immense help.

3. Starting professional pet-sitting or house-sitting service. People today feel a greater need for security, especially in view of growing crime and terrorism rates. A House-sitter provides reassurance and peace of mind while the homeowner is away. Becoming a house-sitter does not require any special skills, only trustworthiness and reliability. Personal references and reliable transportation are a must. Pet-sitting is also a growing business field. People have to go out of town for various reasons, and they find it impossible to take their pets along all the time.

4. Starting a home-based child care business. A home-based daycare business is fairly simple to conceive, but do consider all the issues before you start. Think about the age group of kids you can care for because that will decide what kind of support staff and childcare you need to provide. Also include ideas for activities for the kids, discipline and guidance tools, help you need and food or refreshments (depending on how long they stay with you).

Baby Boomers Working Online: How To Become Self-Employed And Make Money While You Work From Home

The Baby Boomer generation has been hit hard by the recent downturn in our economy. Many Baby Boomers, ready to retire, suffered a financial loss when the stock market hit a down-turn. In some cases, 401K funds and retirement accounts lost almost half their value. Baby Boomers, perched on the edge of retirement, have had to re-think their financial futures, and are now working longer than they anticipated; unable to retire without some type of additional income.

But, Baby Boomers are a resourceful generation, and many of them are starting secondary careers, rediscovering their Entrepreneurial spirit, and supplementing their retirement pensions while becoming self-employed and working from home. Some Baby Boomers have opted to continue working, while others have decided to retire and supplement their retirement funds with a second career.

The World Wide Web has opened a whole new world of self-employment opportunities to anyone wanting to work from home, and retirees are taking full advantage of this phenomenon in order to prop up their depleted 401K accounts. There are over 1.73 Billion people currently online. The internet is transforming many aspects of our lives. It has changed the way people communicate, the way we stay in touch, shop, get information, review products, and it has changed the way companies advertise and market products. Internet marketing has become a multi-million dollar industry. Businesses are advertising online like they used to advertise in print media. For the generation with the entrepreneurial spirit, the internet has quickly become a great opportunity to become self-employed, work from home and earn money, either a primary source of income or as supplemental income for retired individuals.

If you are currently a retired Baby Boomer and you are looking for a way to supplement retirement funds, or if you are a Baby Boomer who has decided not to retire yet because of financial constraints, you may want to seriously consider a second career working online from home. The world of internet marketing needs you!

Working online from home is the perfect opportunity to earn money and have a career while working from home. Having sufficient funds to retire comfortably need not be a pipe-dream. You can earn a substantial secondary income as a self-employed home-based business owner. There are many programs being advertised online for people who want to learn internet marketing. Some of these programs are in excess of $30,00.00 to purchase. However, some of these programs are being advertised at under $500.00. It is not necessary to purchase the most expensive “franchise”, nor will you learn everything you need to know for a couple of hundred dollars. A great internet marketing program should cost you less than $3,000.00, which is a very small investment for the opportunity to have your own business. Research any internet marketing program thoroughly, and do not fall for promises of “instant wealth.” You are Baby Boomers. You know it takes hard work and dedication to any endeavor for it to become profitable.

Supplementing your retirement income and your shrinking 401K doesn’t have to be difficult. Earning money and starting a new career working online from home can be lucrative and interesting!

A Fun Guide to Retail or Shopping Amnesia for the Baby Boomer Woman

Last week I was in a local gift shop looking for my birthday present. Yes! I have sons and they love it when I choose my own present. All they have to do is repay me and I get what I want. One of my sons even tried to get me to buy my own birthday card. That was a step too far. Now that we are all adults, money changes hands as we all buy what we like within financial limits.

When I told the male cashier why I was buying that gift as Extroverts do, he commented that I would have to practise retail amnesia until the big day. It got me thinking how valuable retail or shopping amnesia is as a wardrobe tool.

Here is my fun guide to retail amnesia for the modern Baby Boomer woman’s wardrobe.

It Is the Same One I Have Always Had!

This one works well on men who generally do not seem to notice fine design details. You have replaced old black pants, black skirt, white shirt, red jacket etc with a new one. It is the same colour but the style and details are different. With a straight face, you can claim they are mistaken because it is the same old one. This is replacement amnesia.

Oh! This Old Thing!

Come on! We have all used this one. You buy something. You let it sit in your wardrobe for at least a month. Then when your husband, partner, mother or children notice you wearing it, you say – This old thing! No, it is not new! I have had it for ages. This is calculated amnesia.

Got It For Free!

It is your birthday month or you have reached a certain spending amount and the store sends you a voucher. For some strange reason it is never enough to cover the full cost of what you choose to buy there. We all love a loyalty bonus and it is great marketing. It is also great for shopping amnesia as you can claim to your loved one that it was free or close to it. This is reward amnesia.

I Only Bought One Thing!

You are shopping and carrying new wardrobe items in a couple of bags. The next purchase comes in an oversize bag. Great! All the smaller items can fit inside and not be seen. You walk in the door at home and your loved family member thinks you have only bought one item. You say nothing. This is conspiratorial amnesia.

I Do Not Remember Buying Two Items!

You have been internet browsing and shopping. Unfortunately the parcel arrives when your husband or partner is home. Not what you planned! Suddenly a second pair of shoes or necklace or top has appeared in the package. You say, I thought I only bought one. This is selective amnesia.

Last Words

Our wardrobes are full of emotions – guilt, pleasure, love and hate. Whether you call it Retail or Shopping Amnesia, it has an important part to play in all of these emotions.

As for me, I am off to spend that Birthday Voucher from the store. I am sure it will not cover anything I want to buy but the purchase will still be a bargain in my mind.

Wandering Baby Boomers – Reasons Boomers Love To Travel

One of the famous novels that almost all baby boomers familiar with is “On the road”. This novel was written by Jack Kerouac. This novel dealt with the explorational and curiositic attitude of young people. This novel was published when the baby boomers were young adults. So literally this novel has become a bible for all baby boomers. It further grew in popularity when the boomers entered college. Thus the logic behind the lives of baby boomers can quite easily be deciphered. Baby boomers are not the people who will remain in the same place for a long time. These people are highly energetic and are always curious. These people are always ready for travel.

Baby boomers (adults) beginning a comfortable travel industry and reaching new peaks is not a new feat. It is neither surprising nor astonishing. Baby boomers retiring early and becoming wanderers is not something which is new. If these people start wandering they can go on non stop. The final statement is that these boomers are people who are highly interested in traveling.

For the baby boomers the spirit o adventure is not something which is triggered, it comes to them instinctively. Traveling has become a common routine for the retired baby boomer. It is not only the curiosity of traveling that makes the baby boomers travel, but it is a due to the urge to know more, to learn more and to experience more. If these boomers keep traveling like this, they will become global citizens of this world. Baby boomers becoming wanderers after the retirement age has become more of a routine practice nowadays .When traveling like this, these boomers meets new people and learns new languages and gets exposed to the outer world.

Adventure is a cup of tea that baby boomers had always held. This can be witnessed by looking into the great kind of literature that has become popular due to these boomers. The Lord of the Rings can be taken as a great method of how the baby boomers see this world like ordinary creatures, hobbits; these people go on road to do certain things to save their own world. It is No wonder that the trilogy has become the anthem of these boomer generations who have always looked at their selves as adventurous people with a specific mission to do something nice for all the people in this world.

Hitting the road with their RV may seem tame to the observers who are watching, it definitely appeals to the sense of life that is not restrained. This helps these boomers to combat their feeling that the whole world is closing on them. There was a popular song in the 60s it was called, “Born to be Wild” it was a really excellent tune. It displayed the self-image of boomers as youth who were only shortly civilized and these people had a part of themselves which will never get tamed. The freedom from work and no responsibilities adds on to the aging baby boomers that have been caught by responsibilities of life, work and family for almost throughout the younger side of their lives.

Nowadays, boomers don’t see retirement as the time to get back to the adventurous way of living. Sometimes it is mostly the opposite, boomers look at this as a t chance to live life in the roads in their RVs to get an opportunity to set free the inner wanderer.

So as boomer lovers, let’s try not to rein in their free spirits, even those spirits which live in an aging mom and dad or grandma and grandpa. Boomers will be a sure inspiration to the generations to come. So that they will live a planned life with good responsibility and ideas and still retain a small amount of their natural wildness.

Instant Gratification in Home Decor for Baby Boomer Women – Now, Pass the Black-Eyed Peas, Please

In the United States of America the women of the baby boom generation have it made in many ways… Not that they have not earned it. Absolutely, they have truly earned all the health and wealth they possess. How so? Let me tell you…

Do you know that BB4ALL is more than a major movement in Europe to create one Broadband (high speed internet) for ALL in Europe to economically afford and access, in order to surf the web. This is one huge issue that is being worked on in Europe – BroadBand 4 ALL, (BB4ALL).

So, what’s the connection? We are spoiled at times to not even notice that we all have hundreds of high speed internet companies to choose from to surf the web. Europe does not. It’s pretty expensive. And guess what, baby boomer women in the USA are not only healthy & wealthy, they are also educated! A little old surfing around in cyberspace is no big thing. The baby boomer women can easily afford the “luxuries” we take as common everyday, pass the butter please conveniences in our lives. I’m not so sure European women can say the same thing.

Do you know that European woman have to get in the car and drive around finding a place to park their tiny little car in the busy, busy streets of lets say, London. Walk to the shops. And we are talking a tapestry shop, for instance… Even in Europe there are not tapestry shops on every corner. Maybe it takes 10 stores to find the European tapestry of their dreams. At last. Next is to purchase the fine woven goods and carry it back to the tiny car… no, no I don’t think so. It will have to be shipped to their home. An additional cost and the inconvenience of waiting when they want to go home with it right now. But, it’s not going to fit in that tiny little auto as they whip around the streets on their way home.

How long do you think all this shopping took for the European woman to find a nice woven tapestry to accent her home decor? Hours and hours. Tired feet from marching around in her heels all day… or even flats… she has tired feet. Stress from searching for the parking spot. Stress from having to go from shop to shop…. and on and on.

What do we do here in America? We go online and surf the web and find a great tapestry shop and with the click of a mouse we’re finished. The European tapestries (why not buy two?) will be arriving at the door in about a week. How long do you think that took? Hour? Half hour? Yeah, probably something like that. Pretty nice.

I am not picking on the baby boomers, especially the women. I think they are absolutely terrific! I’m just mentioning sometimes one needs to be reminded that it is a pretty nice life from time to time. Now, pass the black-eyed peas, please.

Workplace Warfare – Baby Boomers, Gen X and Gen Y

Lately, everyone is talkin’ ’bout your generation. With an age gap of nearly 50 years between the oldest and youngest employees in some organisations, there is a broad range of perspectives, needs and attitudes floating around the office. Today’s workplace is most definitely a multi-generational one – and each generation has its own set of expectations, needs, values and working styles.

While generational diversity in the workforce promotes a broader range of talent, it can often mean conflicting ideas and stereotyping – the Baby Boomers think Generation X needs a stronger work ethic, Gen X sees the Boomers as self-absorbed workaholics – and everyone thinks Generation Y is selfish and self-entitled.

Recognising and understanding generational differences can help everyone learn to work together more effectively and transform your workplace from a generation war zone to an age-diverse and productive team.

Baby Boomers (born between 1946 – 1964)

If you were around during the Vietnam War, grew up watching The Twilight Zone and were a ‘flower power’ child of the 60s, then you are classified as a Baby Boomer. Boomers make up 35 per cent of the Australian working population and are presently nearing the age of retirement. The Australian Bureau of Statistics predicts that there will be a shortage of labour and skills in the coming years, particularly in the education and health care industries, as the boomers start leaving the workforce.

But not all Baby Boomers are ready to start pottering around the garden all day and becoming champion lawn bowls players. Many are expected to continue to work well into their sixties and are currently interested in changing, rather than ending, their careers.

There are many stereotypes surrounding mature age workers – they are expensive, difficult to manage, won’t learn new skills, resist change and aren’t up to date with new technology. These generalities can make it difficult for mature age workers who are seeking new work or who aren’t quite ready for retirement.

Glennis Hanley, from Monash University’s Department of Management, believes that Baby Boomers are vital to the workforce today and should be encouraged to stay in the labour game as long as they can. ‘Businesses need to employ the broad-based business experiences of Baby Boomers to foster and transfer cross-generational knowledge,’ says Hanley.

Boomers are committed, hard working and career focused – which has caused them to be tagged as workaholics by Gen X and Gen Y. The Baby Boomer work ethic is also characterised by dedication, loyalty and a willingness to stay in the same job for a long time. They have a lot to offer businesses with their work and life experience, skills and knowledge that many younger people can’t offer. They tend to work longer hours – and respect is paramount when managing a Baby Boomer.

Generation X (born between 1965 – 1981)

Gen X encompasses the lucky group of individuals born in the late 60s but before the 80s really got started. They represent the pop culture of the 70s and are often referred to as ‘latch-key’ kids (often left alone at home because both parents were working) – which explains their independent, resourceful and adaptable approach to work.

Gen X occupies a massive 60 per cent of the current workforce. They possess an entrepreneurial spirit, a do-it-yourself attitude and, in contrast to the generations before them, embrace change in the workplace. They are career-oriented but place a strong emphasis on family time and strive for a good work-life balance. They enjoy freedom and autonomy – they work to live rather than live to work, which is often frowned upon as slack and difficult to manage by the Boomers, who prefer to do the long hours. A flexible workplace is a must for a Gen X-er and they value constructive feedback – which both need to be taken into consideration when managing Gen X.

Gen X-ers are seen to be in the best position in the job market at the moment as they are set to step up to the plate and fill the leadership roles when the boomers retire. Where boomers have the experience, Gen X-ers also have the qualifications to go with it. Brought up in an era of technological and social change, Gen-X is tech-savvy and open to change. They possess a different work ethic to the boomers – Gen X thrives on diversity, challenge, responsibility, honesty and creative input, compared to the boomers’ preference for a more rigid, work-centric approach.

Gen Y (born between 1982 – 2000)

Known as the technological whiz kids in the generation world, these guys were born in the early 80s through to the 90s (some sources even say right up until 2003). They are predicted to occupy almost half the working population by 2020.

Practically born with a mobile phone strapped to their ear and a laptop in their cradle, these guys are totally comfortable with digital technology. Excellent multi-taskers – they’ve had to juggle school, soccer training, dance class, computer games and other social interests, all whilst sending text messages – they are impatient and require instant gratification as they have always had all the information they need at their fingertips via the Internet.

Where boomers prefer ‘face time’, Gen Y prefers to communicate through platforms such as email, Instant Messaging (IM), blogs and text messages, rather than on the phone or face to face. Gen Y also prefers cybertraining, web-based delivery systems and telecommuting rather than traditional lectures or training.

The typical Gen Y is smart, creative, productive and achievement-oriented. They seek personal growth, meaningful careers, and mentors or supervisors to encourage and facilitate their professional development.

They have been constantly surrounded by choice and therefore don’t tend to stay in one job for very long. They require constant stimulation and the opportunity to develop their skills – if they don’t get it, they will walk out the door and find another company quicker than you can say ‘Gen Y’.

According to demographer Bernard Salt, the financial sector was seeing a 25 per cent turnover of Gen Y staff each year. However, the global financial crisis has forced them to stay put in their jobs a little longer.

With their ‘what’s in it for me?’ attitude, Gen Y focuses on entitlements, rewards, promotions and development, which has often led to ‘gen Y bashing’ over recent years. Other generations see them as arrogant, selfish, lazy and unethical. However, provided with rewards, access to training and inspiring leadership, this generation will thrive and be the one to take business through to the future.

So what about Gen Z?

Set to occupy roughly 10 per cent of the workforce by 2020, experts predict that with Generation Z there will be a return to values such as respect, responsibility and restraint. However, with the way technology is heading, most of the jobs that Gen Z will be filling have not even been created yet. The mind boggles.

Baby Boomer Retirement Guide For The Modern Day

Retirement planning for many people is not what it once was. Years ago before the recession came along a baby boomer entering into their retirement phase had many more opportunities and resources to do it with. In today’s society things have changed quite a bit over the years and retirement means something much different to many people. To some it is just a change in their lifestyle and to others it might just be a reduction in hours at work or simply moving to part time employment status.

Once a person starts to reach a certain age the thought of retirement or early retirement starts running rampant through their mind. Everything from how to do it, to where and the process to do it safely and as easy as possible in order to make sure there is enough guaranteed income and money to last through out the duration of their retirement. There are some thing’s a baby boomer can really start thinking about prior to hitting that age to carry them smoothly into retirement through an outside the box thinking process.

Investing In Retirement Annuities

Investing in a fixed rate annuity is guaranteed income for life. The way an annuity works in the financial world and what it means to you as a potential retiree is that if you have a certain amount of savings you can invest you will receive a monthly payment for that investment. For example a $100,000 dollar investment with a scheduled payment on the first of the following month would give you about $556 per/month. That is close to $234,000 over a 35 year period. If you have any savings built up it might be a wise choice to think about investing in a fixed rate annuity.

Part Time Work

To some leaving their current job or employer and moving to either the mountains or somewhere warm is almost out of the question. Part time work instead of the full time rat race is what many are looking forward to for their specific retirement. This isn’t necessarily a bad thing because many retirees are seeking part time work in areas they have always wanted to work but really couldn’t previously pursue. If you are eager to finally retire but don’t think it could happen try setting up something part time that is not as strenuous but still allows you to feel like you have exited the workforce.

De-Risking A Retirement Portfolio

When a person enters the mindset of retirement they want the process to be smooth and safe without any hang-ups at any given time. A professional in the finance industry can help assist you with identifying your potential risky investments that might not yield the types of returns you are looking for to have a safe retirement. There is nothing saying that any risky investment in any portfolio will bring any return at all which is why it is important in a volatile market to really de-risk any investments you or your financial planner might be deem risky in your portfolio. Taking risks with your finances when you are retired could cause you to have to go back to work.

Turn That Hobby Into Income

Do you have a hobby that you have been doing for many years that others want to pay for? Now could be a good time to turn your hobby into a constant stream of revenue. It doesn’t have to be a large stream of revenue but it could offset leaving your career or day job behind you if you really want to retire peacefully. Often times many people want to retire and are not really sure how to do it and this is a great way to do something you love while still bringing in some extra income to keep things afloat.

Make An Important Life Assessment

It is important to realize that you can have that retirement you want you just might have to make some important sacrifices to get there. Evaluate your current lifestyle and some of the things that you want or need to determine if they are necessary. Perhaps you can’t have everything you planned for your retirement over the last ten years but would half of those wants or needs allow you to still retire comfortably? You will have to make a decision whether a little bit of retirement is better than none at all.

Not everyone has the luxury to even explore the retirement step in their life so if you are even at that point in today’s world than consider yourself blessed. Retirement planning is something that can be very exciting if you plan and prepare properly. Take the time to meet with your financial planner or broker on a regular basis in order to ensure you have the safest and most successful retirement possible.

Look Out World – Here Come The Babyboomers

So the Babyboomers are now entering the “golden years” and what does all this mean for them? Well hopefully it means the next several years are going to be full of fun and prosperity and their time to make the most of life.

Is this going to be possible though in the world that we live in today? Are the babyboomers going to be able to survive the recession? Are they going to be able to adjust to the cuts in health care? Are they going to be able to maintain their health in a polluted world?

All pretty grave questions, and perhaps to the point of being depressing. The world should not underestimate the baby boomers though because they are survivors. After all they have made it this far, and when one looks back in history they have come through some pretty tough times.

It is all not doom and gloom for this wonderful group of people. They have paved the way for the multitude of good things that the younger jet set of the world can now enjoy today. They are the pioneers to technology.

The babyboomers are the foundation that the world depends on for their words of wisdom.

There are unfortunately some people in the world today that think that the babyboomers are going to put a strain on the social system and are going to have a dramatic impact on an already weak health care system. These individuals should take a walk in the babyboomer’s shoes however and jog their memory, that if it weren’t for them there would be no reform in health care. It was their fight and lobbying that got the system going, albeit not perfect but that can’t be blamed on them. After all they don’t run it they just fought to get it here.

So I for one say, Hats Off To The Babyboomers, for countless jobs well done. You go ahead and enjoy your golden years, because if there is anyone that deserves a life of prosperity and happiness it’s the babyboomers of 2011!