Hey, what’s all this noise about Baby Boomers worried about retiring? “Don’t Worry Be Happy”, isn’t this the B-Boomers motto. Why is it that when we start turning 60 it’s “Oh crap how am I going to retire on nothing”? Have you been asleep for the last 40 years of your working career?

How is it that our parents and grandparents had enough common sense to save for a rainy day and we boomers seemed hopelessly lost? Were we being fed “stupid pills” while in grade school? I guess nobody was paying attention when Corporate America was transitioning from company pensions plans to 401(k)s (guess you should have signed-up for that one). Now we have this giant segment of American society staring with blood- shot eyes at the inevitable event of retirement.

So let’s put on a pot of coffee and sit down and figure this out.

One, Congress and the President are not going to do away with Social Security. That would be like them sticking their head in the microwave and turning it on; it just isn’t going to happen.

Second, unless you were a complete moron you probably have some money put way for your golden years, just not enough. The trick here is increasing our net worth in the time we have left; it can be done. If you have 5 to 10 years before you retire, do every thing you can to reduce expenses and save as much of your paycheck as possible. Slash your non-essential daily living expenses like cable or the newspaper; every little nickel helps.

Look really hard at your cars, clothes, home, vacations, recreational activities and dinning out. It would be better to cut back and go without now so you can enjoy them later on in life. A little belt tightening and sacrifice now will go a long way.

Third, stop whining and complaining and do something. I talk to too many people, read countless articles and all I hear is “why me”. Your an adult so take off the diaper and stand up on your own two feet your parents aren’t going to bail you out any more (if they are still here they have their own problems to deal with). Get an attitude adjustment, you live in the greatest country in the world and you have the most freedom of anyone on this planet, use it. Put that brain God gave you to work and THINK. You have talents, abilities, ideas, knowledge, experiences and resources, put those to good use and you will be amazed at what you can do.

Fourth, plan on doing what the rich people do, get into real estate and start your own business. You don’t need to be wealthy or a genius to do this just desire, a little common sense and a willingness to work. Most rich people in American didn’t inherit their wealth from their parents they earned it through hard work and determination. Believe it or not you can get into real estate or a business with as little as $5000 to $10,000. Now that may seem like a lot of money to some of you, but what are your alternatives… poverty and defeat?

Fifth, Don’t Stop. Too many people give up and quit if something doesn’t go according to plan. Remember it’s not the team who’s ahead in the first, second, or third quarter it’s the one who is, at the end of the fourth. “It isn’t over till it’s over”, Yogi B. Success at something takes time and a willingness to see it through to the end. If you want to have money after you have retired from that 9-5 job, then you better have a long-range plan. Some of you may say “Hey wait a minutes that means I’m going to be working after I retire from my regular job”. So, what else were you planning on doing after you retired, curl up in the corner and suck your thumb? Let’s face the facts, you didn’t save enough to retire comfortably so let’s be smart about this and plan your future now.

Now’s the time to act, don’t wait till you’re 80 and try to move in with your 60 year old kids.

What do *you* think? Are you doing any of this already? Do you think the baby boomer generation is prepared for retirement? Post your comment below.

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How Corporate America and Uncle Sam Have Made You Too Lazy To Have Wealth

I recently read an article about Corporate American ditching their pension plans and starting up 401(k)s in their place. While that’s not really news it’s the attitude of the employees that triggered these thoughts.
I understand that the termination of the pension plans will improve the bottom line of the corporation; which should be a good thing. But then in a recent poll taken by a prestigious New York marketing firm says employees are unhappy with this recent shift in corporate philosophy.

This begs a question, “Is the corporation there for the benefit of the shareholders or the employees”?

Many people today feel that their employer should provide them with benefits. Just look at the recent rule enacted by the government allowing for automatic enrollment of all employees into the company’s 401(k) plan. The White House and Congress have toyed with for years the notion of making it mandatory for businesses to cover their employees with health insurance. Tax breaks and incentives are the rewards for doing the right thing and being good to your people.

All of these good intentions lead to the belief that it is the government’s responsibility is to provide its citizens a certain standard of living. This couldn’t be father form the truth. The Constitution reads “life, liberty and the pursuit of happiness”, not a carefree life, which some many people now expect as Americans.

Being a Jeffersonian (Free Market Capitalist) I believe that each individual should be given the freedom to follow his or her own path to wealth as they see fit, without expecting a handout from the government.

Which brings me to our Social Security system; know as the “Third Rail” in politics. Now with all due respect to FDR, I think social security may be evolving in to a crutch for the citizens of this great country. Think about it, people today expect their employers and the federal government to provide them with a medical and retirement benefits.

Is it their employers or the government’s job to provide these benefits?

No. We have created a segment of society that has become “Fat, dumb and lazy”. These people (registered voters) demand society provide them with a comfortable life from the cradle to the grave. Folks that is “Socialism”, the slutty sister of Communism. We can’t keep creating generation after generation of Americans looking for someone else to hand them a free ride. The next thing is we’ll all be speaking French and getting taxed up the butt to pay for all this.

Some people truly believe that as the “Social Security” system runs out of gas and “Corporate Pension Plans” go the way of the Do-Do bird life, as we know it will cease to exist. These people were obviously asleep in history class. America wasn’t built by the weak who went crying to their parents when something didn’t go their way. Wake up America! You are the only person responsible for your future, not your boss, not Uncle Sam, not your parents and definitely not me. I think our society would be better off if people relied more on themselves and less on corporate handouts and social services.

What do you think? Let me know. Leave your comment below.