Boomers (or Baby Boomers) are generally taken as those born between 1946 and 1964. Both President George W. Bush and his predecessor, Bill Clinton were born in 1946, making them among the oldest Boomers. The youngest ones are in their mid-forties as of the time of this writing. Thus all Baby Boomers are into their second half of life. What lies ahead?
The older Boomers have just retired from active work. Almost all Boomers are thinking of and planning for their impending retirement. I am, too. I know for a fact that 95% of retirees use up all their savings (including their Employee's Provident Funds or whatever you call it in your country) within 5 years of their retirement despite a lower standard of living. So unless you die before your 65th birthday, either you or your children will have to fend for you. I don't know about you, but I do not plan on burdening my children with my welfare. So what did I do?
I maximized my assets. I'll explain what I mean by that in due course so keep reading. I figured that just by working a 9 to 5 job, I can barely make enough for myself and my family to meet current needs let alone save for my retirement. I knew I had to find additional sources of income, preferably recurring and passive income. That ruled out taking on a second job because it's just another job where I trade time for money. My time is my asset so I wanted to maximize it. But a second job means the additional time required would have to come from somewhere else such as family time. And since I wanted to take as little time from my family as possible, I needed something that is not time-demanding and that could be done on flexi-hours. Do you feel like that, too?
Another asset I have is my writing skill. I certainly am not the best, but I can write well enough. But more importantly, where my writing is not up to par, I can learn and improve. So I looked for a means of income where I could put my writing skills to use. Again, I maximized my asset.
Everyone is the center of a network of relationships. Each and every relationship is your asset. I've got family members, relatives, church friends, office colleagues, acquaintances and so on. I found that I can learn from and tap into the experiences, knowledge and resources of most of these people. How did I maximize this asset? I'll explain this soon.
All in all, I've realized that every ability I have, every opportunity, every past experience I've had are my assets. And these ought to be maximized to earn me that recurring and passive income that I need. So I looked for something that could utilize all my assets above to make money for me. I found it in the form of a business. But not the traditional brick and mortar business (that would be trading too much time for money). The business I'm talking about is Internet Marketing or Online Marketing.
Internet marketing can be done in as much or as little time as I want. Sure, there is a learning curve especially when you first start and you need to put in the time to learn the ropes. But that's the same for any new activity you get into. The great thing about Internet Marketing is that there is a system of doing things. And you only need to learn the system once. When you get it, all you do is repeat it and the system makes money for you on autopilot.
Communication in Internet Marketing is primarily in written form because all websites are primarily visual communication media. But if you are not good at writing, don't worry. Almost all your writing tasks can be learned or outsourced. Remember, every relationship you have is your asset. You may have friends who can help you write. The same goes with the technical aspect of Internet Marketing. When I first started, I knew nothing about websites, HTML and all that techy stuff. But I had friends who coached me, and that's how I learned. Chances are you are a Boomer. So am I. Don't say that it's too late for you to learn. I believe everyone (Boomers included) can learn new things. The good news is that the technical aspect of Internet Marketing is not difficult to learn.
Learning technical things was where my asset of relationships became very useful. I had friends who are computer programmers who could teach me basic HTML and website design etc. That's what I mean by maximizing your assets. Every relationship you have is an asset. Often all you have to do is ask and there will be people who would be glad to help.
Compared to a traditional brick and mortar business, Internet Marketing is much more cost effective. I can show you a way to start your Internet Marketing business with less than $55! But the ROI is limitless. It's also recession-proof because your business is global. A traditional brick and mortar business draws its customers from the local community. When that community or country is in recession, the traditional business suffers. But not Internet Marketing because you are not limited to a local customer base. No matter what the economic situation of your country, there will always be people from other countries with money to do business with you through the Internet.
So if you are serious about preparing for retirement, join me in Internet Marketing. It's a legitimate business anyone can start.
Clarence Chan is a minister, counselor, trainer and internet marketer. Get your FREE podcast series, “The Almost Magical Recipe for Making Money Online" from http://www.beyourownonlineboss.com Listen to the podcast or read the transcript for a step-by-step method to start your own home-based internet business. Clarence has helped many people over the past 20 years in the areas of marriage, family, self-improvement, religion and internet marketing. He is married with five children.