If there is any way you can swing it, now is the time to buy a retirement home or invest your money in low-priced rental properties. Older Boomers are fortunate to have this window of opportunity, which is an ironic benefit of the Great Recession.

Outstanding buys on retirement homes can still be found in southern California, Arizona, Nevada and Florida. Baby Boomers can now afford a larger, nicer home in a better location than was possible just five or six years ago. And in many cases, sellers are open to carry-back financing. Plus, banks and other lenders have huge inventories of foreclosed homes that will hit the market this year. So, if you have been delaying making a purchase decision, now is the time to take action.

Why not just rent instead of buying? That may be a good strategy for many Boomers, depending on the location. However, because so many people have suffered financial setbacks and cannot qualify to purchase a home, rental demand is soaring and rates are going up, up, up. Those fortunate to to buy a home with minimal down payment can lock in their "rent" at a fixed price, usually enjoying monthly payments considerably lower than local rental rates. And 50+ Boomers quickly grow to understand that retirement is all about monthly cash flow.

That is why investing in rental property is a great idea now. When you can generate monthly passive income with a high return on investment, it sure beats the 1/2 to one percent return seen today on CDs! And rental demand is only going to increase in the future as the social fabric of home ownership is revamped. Going forward, there will likely be fewer homeowners and more renters.

2012 is the year for older Boomers to take advantage of the real estate opportunities that will abound this year. You can still "make lemonade out of lemons." Need some free advice or help in finding a good Realtor in your target location? Let us know - we would be glad to help.

If you are like a lot of 50+ Baby Boomers this new year, you are looking for ways to save money. Every dollar saved is another dollar you have in your pocket. Well, there are four easy changes you can make that will result in hefty savings this year.

Cut your Cable TV Bill


The cable TV companies play this game where they bundle everything, making it difficult to subscribe to just the shows and channels you want to watch. The result? More money for them and frustration for you.

You would be surprised how many people are abandoning cable TV in favor of much less expensive online entertainment:

Deliotte, an accountancy firm that follows business trends in media, released the results of their sixth State of the Media Democracy earlier this week and it doesn’t forecast sunnier skies for cable companies in 2012. According to the press release:
 
A number of Americans have already cut, or are exploring cutting their pay TV connection entirely. Deloitte’s survey found that 9 percent of people have already cut the cord and 11 percent are considering doing so because they can watch almost all of their favorite shows online. An additional 15 percent of respondents said that they will most likely watch movies, television programs, and videos from online digital sources (via download or streamed over the Internet) in the near future.
 
Moreover, the number of people citing streaming delivery of a movie to their computer or television as their favorite way of watching a movie rose to 14 percent from 4 percent in 2009.
 
Source: http://www.webpronews.com/deliotte-media-study-2012-01

Because of Netflix, Hulu and a variety of other online entertainment sites, canceling your cable has become a viable alternative. Experts state, however, that just downsizing to the basic (~$30) monthly program is probably best to avoid penalties, especially if you still have Internet services with the cable company. But taking this simple step can typically save you anywhere from $70 to $200 monthly!

Consolidate your Insurance

I just did this myself and saved a bundle. By consolidating your home, car and any rental unit insurance under a single carrier, you will enjoy lower rates and discounts. Shop around and you will see what I mean. In my case, a few phone calls resulted in a savings of over $100 monthly without giving up the quality of my insurance coverage.

Get Rid of your Land Line

Most of us still have a telephone landline. This is usually part of a Cable TV package. Others maintain one in the belief that it will still function if a disaster hits and cell towers cease to function. With today's typical phones sets, the type that use batteries for ancillary phones elsewhere in the house, this is not necessarily true. Read the fine print and you are likely to be surprised.

Going strictly to mobile phone use is already a major trend among younger people. Millions are already doing it, and this trend will become the norm over time. If you are honest with yourself, you probably already use your mobile phone much more than your landline. I know that the majority of landline calls I get are from solicitors, wrong numbers or bill collectors trying to reach someone who previously had my number.

Cutting out a landline can save $25-35 monthly. Think about it.

Cut your Grocery Bill

This tip is very easy to implement. You can enjoy major savings in your monthly grocery bill simply by using coupons and buying house brands. And there are tons of online sites that offer free coupons for EVERYTHING! Just google "coupons." Taking this simple step can result in amazing savings with little effort on your part. 

The Bottom Line? More Money for You in 2012!

So, if you take advantage of these four easily attained savings, you will quickly see several hundred dollars more of spendable money in your pocket every month without really having to make any sacrifices. Life is good, and 2012 is going to be a good year for older Boomers.

As the Holiday Season draws to a close and the New Year looms, I urge 50+ Baby Boomers to take time out to reflect on this year's events and set goals for 2012.

I do this every year. I look at my successes and failures during the current year, then craft my goals for the next year. This document becomes my guide, reminding me of the important things I want to accomplish as the following year progresses. It is my roadmap.

My goals are both personal and business. I look at health objectives (somehow, losing ten pounds always makes the list!), personal relationships, family, travel objectives, activities and my business goals. I try to be as specific as possible so that I don't succumb to the "weasel room" pitfall. Whatever makes my list is something I really want to accomplish during the coming year.

I also do something unusual. I list events that I feel are likely to happen during the coming year. Last year, I predicted that our two older pets might pass on. Unfortunately, I was right. But I also look at possible national and international events and how they might affect me, my family and my friends. This exercise has often positioned me to be better prepared for circumstances that catch others by complete surprise. Occasionally, my prognostications have saved my butt because I had at least taken minimal steps beforehand "just in case." So far, my predictions are batting about 50 percent.

Give it some thought. If you want your life to become productive, then envision where you would like to be this time next year - Slimmer? Richer? Happier? There's an old saying, "If you don't know where you're going, how will you ever get there?"

Many Baby Boomers are turning to home-based businesses to supplement their retirement income. Too often, however, they are falling prey to ads for "easy money" that sells them an Internet solution which never delivers.

I hate to break the news to you, but there is no such thing as an easy way to make money online. Like all other businesses, it requires ongoing hard work to become successful selling products or services over the highly competitive Internet medium.

The most common pitfall for Boomers are "canned" solutions that deliver a Wordpress or small website with dynamic content gleamed from other sites claiming you will make money off affiliate or third-party advertising placed on your site. In fact, you don't really have to do anything - for a price, they will create the site for you. Then you just select the ads to be placed on it (and sometimes not even that!) and sit back to watch the money roll in.

It is a scam! Simply putting up a website these days accomplishes nothing! If the site is not optimized for a specific market niche, it will be invisible on the Internet. No one will ever find it because it will never show up within the first few pages of search engine returns. Search engine optimization and ongoing marketing are required to gain Internet visibility. Without investing in that activity, you are wasting money.

At BabyBoomerlifeboat.com, we carefully researched the plethora of Internet business solutions and settled on Site Build It as the best answer for Boomers starting a home-based business. Why? Because it is a complete answer which includes keyword market research, site optimization, ongoing marketing tools and analytics to help you tweak your operation to success.

Whether you join an MLM business, buy a franchise or start an Internet-based business, there is no such thing as a "canned" solution that delivers passive income without work on your part. Nonetheless, it is certainly possible (and highly practical) to grow a successful home-based business. These days, it is probably the best means of supplementing your income to make retirement more comfortable. Just do your homework before you leap.
 

This week, my wife and I had to take out 17-year old dog, Misty, to the vet where we reached the painful decision to have her euthanized. She had been in failing health for the last two months, but we kept hoping that she would go peacefully in her sleep one night. Unfortunately, it rarely works that way. We gently petted her as the drugs were administered and she closed her eyes forever. It was a tough day, with a lot of tears and an overwhelming sense of loss.

Nearly all the people I know that are 50+ Baby Boomers have a pet or two. They are the surrogate children of empty nesters and those who never had children. Or in many cases, our pets grew up with our kids and remain a legacy after the latter have departed for college, jobs or marriage.

The thing about dogs and cats (we have both) is that they give us unconditional love. No matter how bad our day, or how many regrets we have, they are there to lick our hand or purr in our laps. Pets live in the "now," are always happy to see us and rejoice in the simple aspects of life. They sooth our pain and help us through our fears. We become better people because of their love.

Boomers everywhere are forced to face our own approaching mortality when a pet's accelerated life ultimately brings us to a vet's office, carrying this precious family member on their last journey. One day, it will be our turn. We can already see it on the horizon.

There is a lot to be said for euthanasia. We lovingly bestow this gift on our pets rather than watching them suffer to the end. Yet, with a few exceptions, society denies individuals the right to make the same choice for themselves. Even though our quality of life may have deteriorated to a point that we are a burden to relatives, consume assets that those we leave behind need, and overwhelm our country's medical system, we do not have the basic right to end our own lives.

How much better it would be to have a freedom of choice. When my time comes, I would like to have a gathering on the beach to enjoy one last time with my friends and family, smoke a last cigar, and then pop a pill into a cold glass of chablis. As I sail into the great beyond, I know Misty will be there to greet me with a goofy smile on her doggie face.

Like a lot 50+ Baby Boomers, I'm becoming increasingly concerned about the economy, not just ours but worldwide too. The news just keeps getting grimmer. Whether Europe can pull itself together is anybody's guess. It's not looking good at the moment. And our Super Committee failed to do its job (yea, big surprise there). The U.S. Congress once again has highlighted just how dysfunctional it has become. So where does all this leave older Boomers?

What can we expect if the world economy double-dipped into another recession or worse? The scary thing is that no one knows for sure. Sometimes I get the feeling the world is slowly falling off a cliff into unchartered waters.

Just off the top of my head, here are some consequences I think we could expect:

* A stock market collapse with significant damage to already battered 401Ks and retirement funds.

* The implementation of widespread austerity measures, likely affecting Medicare and Social Security in some fashion.

* More job losses and a big jump in unemployment. More people on food stamps. Huge increases in the number of homes going into foreclosure. Possible civil unrest.

* Downsizing of the military to cut costs, including bringing the troops home from places like Germany and Korea.

I'm sure you could easily come up with more outcomes, none of them good. So, the question is, "What would you do if a worse-case scenario develops?"

Some people, including my neighbor, are stocking food and growing crops in their backyard. Others are buying gold and silver as a hedge against a devalued dollar. A few have "get away" plans to relocate to remote areas with lots of ammo. There seems to be a "survivalist" mentality gathering strength out there.

I think the greatest danger is giving into our fears. No one can accurately predict how the economy is going to play out or the consequences of worldwide economic developments. All we can do is to stay abreast of the news and take reasonable precautions. I have confidence in the American people's ability to ultimately overcome adversities. When the chips are down, we seem to be at our best.

Meanwhile, I'm off to the super market to buy canned goods...

I attended a webinar this morning where the financial presenters reiterated that about two-thirds of today's 50+ Baby Boomers do not have enough funds stashed away to survive in retirement. Moreover, they basically stated that financial companies and retirement planners have no answer for these Boomers, and are essentially focusing their efforts on those with assets worth their time. As far as they are concerned, the majority of Boomers approaching retirement are s*#t out of luck. 

• Bunching together to buy or rent homes so they can reduce their financial burden by sharing expenses.
• Starting home-based businesses to generate extra income. In fact, Boomers age 50 and above are the fastest growing group of entrepreneurs. 
• Comfortably retiring south of the border where the American dollar goes a lot further.
• If they own their home or still have equity,selling their abode and moving to less expensive locations where housing and the cost of living is cheaper. If they are upside-down on their mortgage and can't sell, many Boomers are renting out their current home to cover the bills and possibly create income, then relocating to a cheaper area.
• Creating "villages" where collective food buying, transportation, etc., allows retiring Boomers to get more bang for their retirement dollars and thus stay in their neighborhood.
• Reviving carry-back financing to sell their homes in a down market while enjoying a higher income stream than possible at today's interest rates.

In a recent survey, most 50-plus Baby Boomers - and especially those in their sixties - expressed a desire to simplify their lives by moving to a retirement location and/or downsizing their abode. But nearly all are frustrated in this desire by the dismal economy.

First, many older Boomers now have their college-graduate children moving back in because they cannot find jobs and financially survive on their own. Others are doubling up by accommodating relatives who have lost their jobs or have had their homes foreclosed. It's ugly out there.

Second, now is not the best time to sell a home. A lot of Boomers are upside-down on their mortgages and face foreclosure, walking away or doing a short sale. None of these are particularly attractive options. A better course is to rent out their home if they can at least break-even on expenses. Many Boomers are doing this and actually generating another income stream. Then (with their credit score intact) they are renting in a location of their choice. And holding their breath in hopes that the real estate market will eventually turn around.

Whatever your dilemma, know that you are not alone. We live in strange times. New challenges abound, and Boomers are experimenting with ways to meet them. Think creatively to find innovative solutions. Look inward to clarify your goals and explore possible strategies. The answer will come.

Well, well, our friendly bankers have found new ways to stick it to Baby Boomers (yea, those bankers...the ones your tax dollars bailed out after their greedy shenanigans almost collapsed our financial system). Since Congress lowered the boom on their hidden fees and propensity to small print in contracts (aka "I win; you always lose"), they have retaliated by apply fees to things that cost them nothing and have historically been free.
 
Almost all of us have been hit by new $15 monthly account maintenance fees unless your account has an automatic monthly deposit of $1,500 or more. Also, transfers from your 401K or PayPal now incur fees as well. Want a printed, mailed statement every month? Be prepared to pay for it. And don't even talk about the fee for canceling a check - OUCH!

Now, starting in January, "too big to fail" Bank of America will begin charging $5 monthly just to use your debit card! Bend over America - Theyrrrrrre back! Chase is also testing this to see if their customers will put up with it or revolt. I foresee a brave new world of "nickel and dime them to death" banking.

It sure is nice of the banks to gouge us for letting them make money off investing our money, especially since they now know the government will bail them out no matter what foolish risks they take. Yep, they believe they have Americans by the short hairs and are looking forward to increased annual bonuses for clever strategies that boost their bottom lines.

But just from a marketing standpoint, one would think that a bank somewhere out there would see this as a splendid opportunity to grab a lot of their competitor's customers by advertising their continued free use of debit cards and low fees. It works for Southwest Airlines, which doesn't charge baggage fees. Are there still some honest banking players out there?
 
I wonder just how far the public will be pushed before we start fighting back. For starters, I expect to see more people paying with cash rather than using debit cards. I also hope that Boomers express their anger by moving accounts to financial institutions that do not charge outrageous fees just because they're confident they can get away with it.

I HOPE YOU ARE ONE OF THE BOOMERS WHO DRAW THE LINE! We the people are the only ones who can stop this piracy. TAKE ACTION - FIGHT BACK!

If you are a 50+ Baby Boomer who has lost your job, you know how difficult it is to find new employment.  Companies do not want to hire older workers. In fact, if you ahve been out of work for six months or more, many organizations will not even look at your resume. And if you do find work, don't expect to make what you did before...think less...probably much less. Sorry, that's just the way things are now in our brave new world.

For some older Boomers, the answer is to start your own business. But that is usually only a viable option if you still have some financial staying power. For the others, finding employment - even part-time employment - is a must.

Here are a few sites where older Boomers can leverage their experience to find part-time or freelance work that will help to keep your ship afloat:

Monster.com - Still the grand-daddy of all job sites and better then ever. You can drill down by skill levels, categories, keywords and geography for full-time and part-time work. Lots of tools too, including the ability to post your resume online and set up email job alerts according to your search criteria.

PrimeCB.com - Similar to Monster.com in functionality and capabilities, but they often show jobs not found on Monster.com.

LinkedIn.com - This is a networking organization for professionals and business people. Since networking is the best means of finding new employment, LinkedIn is a must for older Boomers. Set up a free acocunt, serach for contacts and invite them to join your network. Set up a profile with your resume; get recommendations. Link to any website(s) you may have. take a look at their affordable "job seeker" plans too.

FlexJobs.com - Great place to find freelance and telecommuting work. requires small annual fee (~$50). Set up profiles and email job alerts. Get gigs and make money working from your home office. Also check out iFreelance.com.

Expect your job search to take a while. Don't get discouraged. Let go of expectations and look for contracts or positions where your experience gives you an advantage. Good luck!