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Boomers Should Make Arrangements for Surviving Pets

akernek@babyboomerlifeboat.com (Al Kernek) — Mon, 14 May 2012 15:42:26 GMT

Boomers who are empty nesters typically have a pet or two who have become their surrogate children. We used to have four (two dogs and two cats), but the older dog and cat passed away last Fall. I told my wife "no more pets," as they do tend to tie us down and make travel difficult...and having four pets was just a little too much after we had downsized to our retirement home.

But she was very attached to the older dog that had recently died - a sweet female Shih Tzu - and grieved for her. That's why I wasn't surprised to see her show up over the weekend with a six-week-old baby male Shih Tzu. She bought him from a family selling puppies outside of Wal-Mart. It was love at first sight. And of course, I fell in love with the little guy too, who is now named "Prince."

So, we have this little furball hopping around the house, peeing and yapping and wanting to play with our other dog and cat (it's going to take a while - they just roll their eyes at the puppy). He is really cute and easily captured our hearts. I already know he is going to compete with me for pillow space at night.

The thing I worry about is that we are now in our mid-sixties and dogs live a long time. I'm afraid the puppy might outlive us. Or, we could get wacked in car accident or some other accident.

I see older pets being promoted all the time by animal shelters where they wound up after their owners died and no relatives want to take them. I can't imagine a worse fate for a beloved pet. How they must miss their "mommy" or "daddy!" I think of the confusion and utter depression these animals must suffer. If I had a huge property, I would take them all so they could live out their days peacefully. Otherwise, I know that most of them will ultimately be euthanized. That is why my wife and I have made arrangements for the care of our surviving pets with extended family members just in case something happens to us.

So now we have two dogs and an ill-tempered cat. I told my wife, "That's enough." She nodded her head and agreed. But I'm not holding my breath.

Boomers are Concerned about our Children's Fate

akernek@babyboomerlifeboat.com (Al Kernek) — Tue, 01 May 2012 14:47:55 GMT

It seems like every discussion I have lately with Boomer friends eventually touches on our mutual concern about the economic outlook for our grown children. We are afraid that their world is going to be much harsher with fewer opportunities than our generation enjoyed.

My son will be thirty-nine this year. He has a college degree in business and a good-paying corporate job. Yet, his world is fragile. He puts in 50-60 hour weeks, which is expected if you want to keep your position. Being "on call" for weekends is the norm. After all, employers can always replace you with someone else if you don't like it. Job security and employee appreciation appear to be a thing of the past. And I hear the same complaint from his friends and just about every person under forty.

The younger generation has no faith that Social Security or Medicare will be there for them in 25-30 years. They see a country in danger of becoming insolvent and wonder how the Fed can keep printing money without concern for inevitable devaluation of the dollar and rampant inflation.

Regardless of their political affiliation, they feel disenfranchised from government and view it as a rigged game where the rich and special interests win while the public has no seat at the table. To them, our grid-locked government is dysfunctional and no longer capable of resolving critical issues.

Many are burdened with student loans they will be paying off well into middle age. They no longer trust 401K's (or the stock market in general) or investing in homes. What savings they can muster are going towards paying off debt and buying "survival" instruments like silver and gold.

The bright spot is their surprising confidence. Viewing their future form a different perspective, our kids are formulating strategies for a rapidly changing world. Many are embracing the global aspect of today's economy and seeking multinational positions. Others are desperately learning new skills. A large number are evaluating entrepreneurial pursuits as means of escape from harsh corporate environments and gaining self sufficiency. All seem to recognize that a global economy has altered the nature of things. Our children understand they must adapt to flourish (or simply survive) in this still evolving "brave new world."

While we older Boomers have sometimes seemed paralyzed or focused solely on survival or retirement during recent economic upheaval, out kids have become more realistic in their outlooks. They are finding their way and learning to do what has to be done to carve out a future. It won't be the one we enjoyed, or even the one we wish to leave them.

The next generation is finding a voice. If we listened closely we can hear the drumbeat of building frustration and a growing sense that the wheels have come off America. Their time is coming. I daresay in our lifetime we will see our children step up and take this country in a new direction. one that better masters the realities of our re-shuffled 21st century.

Baby Boomers are Downsizing During Retirement

akernek@babyboomerlifeboat.com (Al Kernek) — Mon, 16 Apr 2012 22:23:50 GMT

Fifty-plus Baby Boomers are becoming empty nesters as their kids go off to college or move on. More and more, these Boomers see the wisdom of downsizing to prepare for - or survive during - retirement.

Downsizing living accommodations has several advantages. First, it cuts expenses...dramatically. Why heat, cool and provide utilities for a 2400 SF home when only two people are living there? Get a smaller place and put the savings on utilities, insurance, landscaping and home maintenance into your pocket.

Second, downsizing frees up more time. Instead of mowing a large lawn, now you have time to go on a bike ride, see a movie, read a book, play golf or give attention to a home-based business. Many Boomers change their lifestyle entirely during retirement, using a downsized abode as just a way station for whenever they take a break from traveling.

Some Boomers get creative. They sell a large home, move to a smaller house in a location of their desire, and also purchase a winter home elsewhere.

And those who can't sell their home because it is "upside down" often rent it out to allow the flexibility of relocating to a cheaper area of their choice. Boomers are using this strategy to pick up retirement homes at a bargain price in areas like Florida, Arizona, Nevada or southern California. They are making "lemonade out of lemons" in this economy.

Another benefit of downsizing is that couples find themselves spending more time together and getting to know each other all over again. In a smaller home, there's less room to hide.

Whether it is for financial reasons or just planning your retirement lifestyle, downsizing your home is an option that older Boomers should consider.

Baby Boomer Easter Reflections

akernek@babyboomerlifeboat.com (Al Kernek) — Sun, 08 Apr 2012 15:53:02 GMT

I woke up this morning and didn't realize it is Easter until I read the paper. It got me thinking about how far people of my generation have strayed from our upbringing. When I was a kid, my parents made a big thing of Easter, coloring eggs, and getting us candy-filled baskets. My wife and I did the same thing when our son was little. Now, I have pretty much abandoned traditional religion and Easter is just another Sunday.

Looking at Facebook and talking to friends and relatives in different parts of the country, my impression is that religion is pretty much geographically allocated. The South and Midwest are strong reserves of Christanity; not so much elsewhere.

Just because the rest of us have drifted away from traditional religion does mean that we are not spiritual. Many Boomers found that rigid religions don't fit them anymore and embraced other forms of spirituality.

The important thing is that most Boomers are spiritual in nature. We have been through a lot in our lives and seek answers to the glimpses we occasionally see behind the veil. Boomers believe in life, loving, giving and being thankful for our blessings. Seems like a good formula for getting along no matter what our beliefs or what religion we embrace.

Boomers Enjoy Tax Benefits of Home-Based Businesses

akernek@babyboomerlifeboat.com (Al Kernek) — Mon, 12 Mar 2012 17:35:07 GMT

Most 50+ Baby Boomers I know do not intend to fully retire. Many simply can't - they need supplemental income just to survive. Others do not envision retirement as endless golf and travel - they want to continue to contribute and enjoy the challenges of business. Hence, older Boomers now comprise the largest growing segment of entrepreneurs, creating more home-based businesses than any other demographic. At this time of the year, these start-up businesses also yield important tax benefits.

Whether your home-based business is a "sole proprietorship" or a "limited liability company," it enjoys tax advantages that can leave more money in your pocket on April 15th. You can deduct many expenses that would otherwise be forfeited on your tax return. For example, computers used for your business can be depreciated, the portion of your travel devoted to business can be deducted, mileage for business travel is deductible, and even you car can be depreciated. Also, you can deduct health insurance premiums, a major expense for those not yet on Medicare.

Of course, you have to be careful to comply with IRS rules for deductions. If you are not using an accountant to prepare your taxes, you should at least purchase TurboTax or similar software that includes home-based business forms. And be extremely careful about claiming a home office, as this is a major trigger causing IRS audits. Have backup documentation, keep records of everything, don't be overly aggressive in claiming deductions, and you'll be OK.

Business losses pass through to personal tax returns, reducing your overall tax burden. This can save Boomers thousands of dollars at tax time. Many will see refunds instead of having to write a check to the IRS. In fact, tax time may become "bonus time," something you look forward to each year.

Boomer Entrepreneurs Enjoy "Retirement" More

akernek@babyboomerlifeboat.com (Al Kernek) — Sun, 26 Feb 2012 18:53:18 GMT

It gets harder and harder to define "retirement" these days. Use to be, it meant not having to work, living off your savings in a paid-off home, travel, playing golf, visiting the grandkids...basically a carefree life. It is still that, but now something more - survival. And a surprisingly side effect is that Boomers who continue to work part-time during their "retirement" or start a home-based business have found that it adds spice to their golden years.

Working and interfacing with others of all ages is energizing. Keeping the mind sharp by solving business problems is an encaging addiction. Those who volunteer for worthy causes know this secret to a fulfilling retirement too.

Now spending part of your day (even if it is only a few days a week) working doesn't preclude enjoying your retirement. In fact, it fits in nicely, as many entrepreneurs accomplish their daily task in the solitude of early morning before heading out to the gym, the golf course or taking the grandkids to the park.

The point is, Boomers can still have a "retirement" even if their finances say otherwise. It is all about taking control of your life. That is why so many Boomers are starting home-based businesses that leverage their work experience for supplemental income. Millions are doing it, and you can too. Working during retirement is the trade-off that most Baby Boomers make today to enjoy having free time to play. And you know what? It's better than the "lawn-chair" retirement of the wealthy because we remain active, sharp and energized by our lives.

Learn how thousands of 50+ Baby Boomers have launched their own Internet home-based business.

Boomers - Is 2012 the Year You Retire?

akernek@babyboomerlifeboat.com (Al Kernek) — Wed, 08 Feb 2012 18:02:46 GMT

10,000 Baby Boomers are retiring everyday. A recent study by the Urban Institute concluded that 30-40 percent will not have sufficient savings and financial resources to support themselves in the same lifestyle lived during their earning years. Due to the devastating recession, I believe that figure is higher for leading edge retirees, and may be actually closer to 60-70 percent.

We retire for sveral reasons. Many have lost their jobs and can't find new ones. Others are just ready to do it, wanting to enjoy life a little more or just do something else. Whatever the motivation, the main challenge is always having sufficient financial resources to survive.

Part of the answer is one's perspective on what constitutes a "comfortable" retirement. Unless your retirement income is at least 70-75 percent of your previous earning income, that will change. "Comfortability" does not mean luxury, eating out every night, or taking continuous world cruises. More likely, it means a down-sized living. But if you know how to do it properly, that doesn't translate to a poor retirement. In fact, no matter what your retirerment income, there options for living comfortably and enjoying a rich, active lifestyle.

Learn How You Can Still Retire!

Boomer Retirement Home Bargains and Investments Abound

akernek@babyboomerlifeboat.com (Al Kernek) — Tue, 17 Jan 2012 18:26:20 GMT

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.

Boomers - Four Easy Ways to Save Money in 2012

akernek@babyboomerlifeboat.com (Al Kernek) — Sun, 08 Jan 2012 16:59:39 GMT

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.

Boomers - Set your Resolutions for 2012

akernek@babyboomerlifeboat.com (Al Kernek) — Tue, 20 Dec 2011 18:48:38 GMT

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?"

Boomers - Beware of "Easy Money" Home Business Scams

akernek@babyboomerlifeboat.com (Al Kernek) — Tue, 06 Dec 2011 19:05:10 GMT

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.

Boomers and Pets - RIP Misty

akernek@babyboomerlifeboat.com (Al Kernek) — Wed, 30 Nov 2011 16:16:01 GMT

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.

50+ Boomers - What will You Do if the Economy Collapses?

akernek@babyboomerlifeboat.com (Al Kernek) — Mon, 21 Nov 2011 18:24:40 GMT

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...

Funds-Strapped Boomers Find Creative Ways to Retire

akernek@babyboomerlifeboat.com (Al Kernek) — Tue, 25 Oct 2011 19:32:36 GMT

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.

They might be surprised to know that this group of Boomers (of which I am one) is handling their retirement setbacks just fine, thank you. We are not a generation that just rolls over and dies when facing adversity. No one is coming to rescue us but ourselves.

And we have gotten quite creative about surviving. Here is some things older Boomers who have lost their jobs and seen their savings and home equity trashed by this dismal economy are doing to stay alive:

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.

It is not our parents' retirement, but this is what life has given us. We excel at overcoming obstacles with creative "workarounds." Despite financial setbacks, our generation continues to find ways to forge meaningful lives that contribute to society. We should all give ourselves a pat on the back.

Economy Dashes Boomer Hopes for Downsizing

akernek@babyboomerlifeboat.com (Al Kernek) — Thu, 13 Oct 2011 16:00:50 GMT

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.

Banks Stick It To Baby Boomers Again!

akernek@babyboomerlifeboat.com (Al Kernek) — Mon, 03 Oct 2011 20:20:50 GMT

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!

Job Hunting Aids for Older Boomers

akernek@babyboomerlifeboat.com (Al Kernek) — Sun, 25 Sep 2011 18:58:00 GMT

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!

Updates to Baby Boomer Lifeboat

akernek@babyboomerlifeboat.com (Al Kernek) — Sun, 18 Sep 2011 18:13:20 GMT

We've been busy, busy, updating and enhancing Baby Boomer Lifeboat. Our goal is to give you you a more rewarding and fulfilling experience when you visit our sites. Here's what we've recently accomplished:

1. Added a new online store that carries customizable, fun gifts designed especially for 50+ Baby Boomers. Check it out at www.UniqueBoomerGifts.com.

2. Created a Facebook page just for Baby Boomer Lifeboat. Everyday, we scrutinize the Web for articles relevant to 50+ Boomers. Those of interest to our readership are "shared" on our new Facebook page. So to read the latest material helpful to 50+ Baby Boomers, start visiting the Baby Boomer Lifeboat Facebook page on a regular basis: http://www.facebook.com/#!/pages/Baby-Boomer-Lifeboat/147095818693387

3. Revised and expanded the website section on "Retire Abroad." With this rotten economy, more and more Boomers are looking south as their best bet to stretch retirement dollars. Learn how you can retire south of the border and live comfortably on a reduced or limited income.

4. Expanded the number of onsite articles to make your Baby Boomer Lifeboat website visit more rewarding. Our frequently updated Home page now contains insightful articles prepared especially for 50+ Boomers by strategic partners.

5. Prepared a guide for Baby Boomers hit hard by the Great recession, "How 50+ Baby Boomers Can Still Retire."

6. Bringing you the CBS Senior Moment and U.S. News & World Report news of importance to Baby Boomers.

We are doing everything possible to help Boomers facing retirement with less funds than anticipated to circumvent financial setbacks so they can still enjoy a fulfilling Fall and Winter of their lives.

What Should Boomers Look For in a Home-based Business?

akernek@babyboomerlifeboat.com (Al Kernek) — Tue, 30 Aug 2011 17:48:53 GMT

Since nearly every Baby Boomer I know who is approaching retirement - or is unemployed - is planning to start a home-based business, I get deluged with questions like "What type of business should I consider?"

The obvious answer is to leverage your work experience, contacts and expertise to create a business that can be run from a home office. In most cases, this is the fastest path to success.

But thinking about it more, there are other important considerations:

At some point, you will want to really retire or at least cut back on your involvement in a business. Then, it would be nice to have something that gives you ongoing residual or passive income. Membership and subscription-type businesses are good for this. So are royalties from self-published ebooks. And good MLM opportunities - they can yield solid, ongoing revenue streams as well.
If you create your own business, do so with the objective of creating intrinsic value that can be sold at some point. This advice is also applicable for those who buy into franchises.
Your ultimate success depends on whether you enjoy what you are doing. If so, then it's not "work." Rather, you will be motivated to spend the time, energy and resources necessary to achieve success. Besides, we only have so much time left, and isn't it better to spend it doing something that really rocks your soul?!

Personally, I have created and operate seven websites under my LLC ("Pacifica Endeavors"). It pays the bills and has never seemed like "work" to me. And my schedule is flexible - I make time for the gym, golf, bicycling, reading, coffee with friends and going to the movies with my sweetie. Considering this dismal economy, life is good.

50-Plus Baby Boomers Slammed by Economy

akernek@babyboomerlifeboat.com (Al Kernek) — Thu, 18 Aug 2011 17:28:24 GMT

More than any other group, 50-plus Baby Boomers are being devastated by the economy. Many have lost their jobs. Others have seen their savings dwindle as the stock market tanks and interest rates remain low. Most have suffered from crashing home equities.

It is obvious now that the world economy is (best case) stagnating or (worse case) headed for a major crash. Aside from those on Wall Street, no one is profiting.

So what are older Boomers to do amidst all this economic chaos? Survive!

It's back to Maslow's hierarchy of needs for the two-thirds of 50-Plus Boomers who no longer have an economic cushion to ride into retirement. It is a matter of setting priorities in a fluid environment.

Here are my suggestions:

1. Maintain your health. It's true, if you have your health, you have everything. The opposite is true too, so make time to relax, exercise and pay attention to your well-being.

2. Keep a roof over your head. Amazingly in the U.S. this is no longer easy to do. Many have lost their homes and now live with relatives, friends or in RVs. Some are on the street. Not having a shelter plays with your mind and confidence. Whatever you do, figure out a way to have a place that that provides shelter, food, and safety. We all need somewhere to unwind and gather our mental strength.

3. Adjust your lifestyle to your means. This is especially tough for those who have suffered economic reversals. But living within your new means is critical to survival. Cutting back, budgeting, weaning yourself from credit cards and learning the joy of coupons is the new reality for most older Boomers.

4. Learn to live in a dynamic environment. There is a new reality out there. Nothing is assured anymore. Give up previous perceptions and tune into the way things have really become. Learn to perceive new opportunities and avoid risks. This isn't Kansas anymore.

5. Figure out how to make money. There are few or no jobs for 50-plus Boomers. Across this country, senior Baby Boomers are launching home-based businesses to supplement their income. Working during retirement is the new norm. Ask yourself, "How can I leverage my experience and talents to fill a market need?"

Perhaps the most important thing is to never give up hope. Life does not require riches to be happy. Comfortable, rewarding retirement is still possible - it just requires a mental adjustment, commitment and becoming proactive. Learning to make educated choices in our brave new world is key.

But then our generation has lived their lives in a changing world. Most of us are still fast on our feet. We are up to the challenge. We're not through yet.