Image by thinkpanama via FlickrBaby Boomers retirement is one of the themes that keeps popping up on blogs all over the web, and indeed in mainstream print as well lately.
As a boomer, but towards the end of the bubble I am becoming even more concerned over what is likely to happen to the world economy in the next few years. As with most people, I have hit a few financial roadbumps along the way and now wonder if my nestegg will be enough. I am sure I am not Robinson Crusoe when it comes to this!
One guy that seems to have been spot on with many forecasts over the past 15-20 years is Harry Dent. His new slant on things takes into account first and foremost, yes - Baby Boomers. We as a group are so much bigger than the population groups both ahead and behind that we as a group have unduly influenced fads and trends since we were tots and consumed huge quantities of Gerber baby food.
We continue to and the in the near future it is the real estate market and the stresses on medical services that will test not just us as a group but our society and the world economy as a whole.
For example, in the US alone 76+ million baby boomers are going to be moving into smaller houses or even retirement homes. Who is going to buy your house? There aren’t enough x and y gen following to take up the slack.
Anyway…..don’t take my word. Here are a couple of paragraphs from Wikipedia re Mr Dent and his theories: “In the early 1990s, he predicted that the DOW would reach 10k. This prediction was met with much skepticism. In 2000, he predicted that the DOW would reach 40k, a prediction which was repeated in his 2004 book. In his book, he also predicted the Nasdaq will reach 13-20k. In January 2006, he predicted that the DOW would reach 14-15,000 by the end of the year. It ended 2006 at 12463, 11% below the lower end of his prediction. It ended 2007 at 13264, again significantly lower than Dent’s revised prediction of 15000 by early 2008. Since then, the Dow crossed 14,000 in late 2007 before retrenching.”
He has been spot on as you can see. But what worries me are the following:
“In contemporary economics, Harry Dent has popularized the baby-boomer age-wave theory. According to him, as a result of baby boomers retiring, the US stock-market will peak between 2007 and 2009. This prediction is based on his observation that consumer spending peaks near age 50.
Schieber and Shoven suggest gradual peaking of social security trust fund around 2007-2009.
Some experts expect the worst consumer recession since 1980 as aging boomers start retiring, adding to rising unemployment, decline in house values, and declining stock prices. However other experts have suggested that immigration to the US and rise of emerging economies will offset the demographic impact”.
Just food for thought…….. Is the big house you are in going to hold its value? What of the retirement nest egg, and should that be looked at again if we go into a drepression as is predicted?
Sure things will go up in the long run…..but how long? How old are you now?
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Image via WikipediaThis is not something I want to think about for a while yet ….. but for those of us with aged parents its worth consideration. Its not only for the handicapped!!!
Handicapped or aged persons can find taking a bath a much more difficult and complicated process than a fit able bodied individual. A handicapped person has things to consider that we often don’t realize and this includes when buying things like bath tubs. Accessibility will often be one your main points of concern. Another point to consider is what safety measures have been incorporated in the particular handicap bath tub you are looking at.
Of course much of this will be determined by the nature of the handicap and its severity. Locking gates, power seats, and easy access and exit points are features that will ensure your bathing needs are met in safety, comfort, and ease of use. Created to meet the needs and requirements of the handicapped person, these bath tubs are safe even for those with limited or little mobility.
The health benefits from Jacuzzis and hot tubs are quite well known and walk in tubs can also have the same effect. Normal designs for this type of bath tub include a seat where the user can sit as the bath tubs have easy access and can be higher and deeper. This easy to enter and exit tub prevents slipping or the need to bend down to recline in the tub. To get around the problem of washing while in a seated position, shower heads are fitted to the top edge which means taking a shower is a simple process. The handicapped bath tubs that are fitted with additional features such as whirlpools, massage sprays and hydrotherapy can completely transform the bathing experience for users with aching and tired muscles.
The medical needs of handicapped bathers is taken very seriously with bath tubs available in a wide variety of depths, sizes and features guaranteed to give them a bathing experience not normally possible. If you want a bath tub with all the attachments for a hydrotherapy massage and also whirlpool features then you won’t get much change from 6,000 dollars but lower specification models are around 3,000 dollars. You may find that your Medicare insurance may contribute a percentage of the cost (sometimes all) if the tub is purchase because of disability or age. The insurance agent should be able to tell you if this is possible. This type of bath tub has contributed greatly to the comfort and safety of those handicapped or elderly people who have up until now had enormous problems bathing and made it something they can look forward to.
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Image via WikipediaFood for thought……
It’s becoming quite normal for people to install alarm systems in this ever-changing society in which we live. In fact, security systems have become a must have addition to many homes these days in some areas. The thought of home alarms had never entered my mind, because I grew up during a decade where we trusted others and could leave our doors unlocked without consequence. Society today finds that to be the direct opposite to how it used to be. Since I am now a parent, I’ve become increasingly aware of society’s ills and as a consequence, I have been taking a look at the financial involvement of having a home alarm.
I only realized some time ago that most new cars come equipped with alarms. A BMW I purchased came equipped with an alarm, but I have no idea if the alarm has stopped anyone from entering my vehicle, because I am not aware of anyone who ever tried to do so. The auto insurance company also provides me with a discount and I suppose I do get some reassurance from knowing it is there.
Capable and reliable alarm systems are almost mandatory for businesses no matter what size they may be if they want continued insurance protection. Like more and more people are doing these days, I am going to have an alarm system installed at home. After a while considering this I finally decided to look into getting more information on home security. What I didn’t know was that they not only help prevent someone entering your home but can help avoid other dangers too. The benefits of having one set up in your home are enormous.
Now that I know that these types of alarms can detect fire and the deadly carbon monoxide gas, I feel very reassured. Not only are they protection from those threats, but they can help with medical emergencies too. Since I am now responsible for small child and the local crime rate worsening, looking into home security became a critical choice that I had to make. After the kidnappings of children from where they lived made national papers, radio and TV I became more concerned about the situation.
My daughter has her bedroom on the first floor, where it would be too easy if anyone ever decided that they wanted to break in and commit a crime. The thought brought back harsh reality and I started to look seriously into home security systems. I truly believed that making this decision was the best way to keep her safe. My insurance company is also helping me to save money as they give people who have alarm systems fitted a lower monthly premium as a result. Sure, home security might cost you more money out of your pocket each month but to me you cannot put a value on that type of safety. In terms of wealth, feeling safe when you are in your home is worth a fortune.
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Image via WikipediaIts something most of us don’t want to acknowledge, but we Boomers are getting older and so to plan for any unforseen incidents disability insurance is a must have.
Having a disability insurance policy could be a lifesaver if you cannot work for a period, especially with a family; a scenario where a person, who brings money into the home, cannot work is one that is played out by thousands every day. For many people, protection against disability can be a lifesaver if you can’t get to work and earn an income. In fact there is a higher probability of a person requiring some form of protection against disability before they retire than the likelihood of dying.
The problem is that life insurance is the number one consideration for most people, especially when they have dependants, without even looking into the benefits of covering themselves against disability. If you are aged 40 for example, there is a higher chance that you will be disabled, and thus unable to work for a period of 90 days or more, than of you dying before the age of 65. The problem is disability insurance costs more than basic life cover as it is costlier to provide.
Unlike life cover, disability rates are based on the potential income lost as well as, age, occupation and general health. One method of lowering the policy premium is arranging for the plan to ‘kick in’ only after the incapacity has lasted for a set period of time. so effectively reducing the possibility of claiming on the policy. The other is opting for a shorter period of cover; although you need to bear in mind that once your period of benefit ceases you would have to support yourself.
Insurance company policies will differ but the majority will only pay a percentage of your lost income so it is a good idea to choose the best one for you and in this instance, the cheapest may not necessarily be the best. There are two policy options available; the first is short term disability insurance which only covers the claimant for a few months of incapacity. If someone wants to claim total disability and be completely covered financially, they will have to prove that they are unable to perform the majority of the tasks they could previously.
Irrespective of the type of policy you have, payments for disability are made regularly, every week or month until the end of the incapacitation or the policy, whichever come first. Other key points to consider when looking into health policies are if there are restrictions on:
- Attitude towards pre-existing conditions
- Is the benefit taxable?
- When do the payments stop?
- Are you employed in a high risk occupation?
The level of cover provided for your original salary will differ with each insurer’s disability insurance policy. With some providers giving 70 percent of the original salary, you will have to watch out for those who will only provide you with a very low 40 percent which could cause financial hardship. This needs to be checked thoroughly especially if you have a family with large financial commitments each month.
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Carrying on with the Internet themed articles today we discuss affiliate marketing.
Probably the simplest way to be a successful affiliate marketer is to build websites. Not many people understand just how much revenue is possible with affiliate marketing if you sent you mind to it. To start with all that is required is a single page that, if well written, will promote the product you are marketing. Many new Internet Marketers start off this way with some never changing what they do as the potential income is huge.
At this point you my not have a good idea what it is you want to sell but this is not as difficult as it seems, aspecially as boomers have had a wealth of experience that means you are an expert in one if not a number of areas, and this can add weight to any reviews you do and set you as an authority in a particular niche.
Each company has a terms and conditions page for their affiliates which you should always check before you start selling for them. The reason for this is simple, you are not working for free so if you do not want to fall foul of silly terms that could stop you earning, you will do this. It is not uncommon for there to be restrictions where you can be located to get paid and there have been instances where people have been accepted to programs and not been paid because they do not live in an approved location.
Most affiliate programs pay well but it does depend on their prices to start with; fifty percent is the norm but if you decide to become an Amazon.com affiliate, expect around 5-10 percent (this is worth checking regularly). Still one of the best affiliate marketing resources is Clickbank.com where there is information and products listed in categories and links to the sales page of the product being sold. Almost all reputable affiliate programs will allow you to join them at no charge (not even an admin fee) so be very careful handing over money to any company that says you need to pay them a single registration fee. If you do not know what to do about payments then you would be well advised to choose one or both of the following programs: Clickbank or Paypal can both process payments from companies and registration does not cost a cent. There will be time later to use other payment gateways once you have established your affiliate marketing empire.
The Internet has a great deal of information on marketing affiliate products including free e books and plenty of websites if you just spend some time searching; you can decide which are worth adding to your favorites These e books can be a mine of information and will contain many useful urls, however some will link to sites that want you to purchase something; whether you do or not is up to you. Many resources exist to help people earn an income online, some free and some paid but at the start it is advisable to use those without cost until you have actually earned something. For a beginner this is a way to see if something works and to then trust the person who supplied it and buy from them at some point in the future.
Remember that affiliate marketing does not have to rely only on online advertising methods, others exist. The advertising only needs to direct people to your website where if it has been designed correctly, will do the work for you. To find out where your affiliate marketing efforts are best spent you will need to track where the traffic to your site is coming from and stick to those methods. The biggest benefit to affiliate marketing is there is no restriction on how many companies you can work for. Do not spend too much time learning about this because some people become permanent learners, never actually doing anything to ear money.
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