I came across this fantastic article by Liz Pullman Weston, and wanted to share it…..

“If you lose your job in your 50s, you may have a tough time finding a new one — and that’s a game changer if you had planned to work (and save) for a few more years.”

“Carol Friery thought she was doing everything right. The warehouse manager loyally stuck with the same company for 17 years, contributing 10% of her income to her 401k and avoiding credit card debt.

Then the company announced it was closing the Rhode Island warehouse where she worked, and Friery was laid off at age 58. Now, after 18 months of fruitless job searching, Friery believes she’s involuntarily retired.

“I’ve applied anywhere and everywhere,” said Friery, who lives in Somerset, Mass. “I’ve applied in my field and out of my field. . . . I thought I was doing OK with retirement planning and savings, but I didn’t expect this.”

Americans increasingly are working longer, but Friery is part of a significant countertrend: older Americans who lose their jobs and can’t find replacements, forcing them into early retirement.

The unemployment statistics are grim for those over 55. The typical duration of joblessness is nearly 30% longer than for younger workers, and half of those who lose their jobs are still looking for work six months later.”   Read the balance of the article here…..

All the more reason to work for yourself.  If you haven’t been, then start now.  Even if only part time to supplement your income.

“Take control of your destiny or someone else will”

Until next time,  J.

I know this isn’t the business type info you’re accustomed to seeing here, but it does pose a significant question.  Are you prepared financially?

Visit msnbc.com for breaking news, world news, and news about the economy

We have had what I call a “placeholder” site up for a while now at For Life’s Next Phase while communicating with clients and service providers to determine new offerings.  We are growing and are very interested in making this site “bigger than just us”.  I would love to hear your comments and suggestions as a part of my valued community.  Please either comment directly here or if you’re one my Twitter friends, please send a DM so it doesn’t get lost in the shuffle.

We work directly with seniors and their families, and we’re very interested to know what information you may need.  Here are some examples:

• How to find assisted living, adult communities, and aging in place information
• How to find non-profit organizations providing eldercare support
• How to find senior movers and those who specialize in working with seniors when they relocate
• How to find services to support a family member move when living out of town
• How to find products that will assist the senior in your life maintain their independence

What other topics or categories would be helpful to you?  Be sure to check out our blog as well.

Thank you in advance for taking the time to respond. All of your comments will be taken into consideration as we develop our new site!

Here are some interesting statistics regarding baby boomers nearing retirement from moneycentral.com, which you can read in full HERE.  Please let me know your thoughts about them…  Can you relate or are they far from the mark in your opinion?

• Now nearing retirement, the oldest baby boomers face perhaps the most challenging economic environment since the 1930’s.
• Boomers’ 401k plans were battered in the 2008-09 market meltdown – just as the first wave of boomers prepared to retire.
• About 15% of homeowners 55 to 64 recently owed more on their homes than the homes were worth.
• More than half of affluent 60 year olds (with about $1 million in investable assets) are revamping their retirement plans.  The most popular strategy – work longer.
• Today’s 50 year old boomers anticipate retiring four years later (at age 67) than 50 year olds did in 1996.
• Among 50 year olds, 41% say they will never be financially capable of retiring; 23% have not started to save.

If you are concerned at all about your retirement have you considered learning new skills to begin an online business?  Take a look at this before searching anywhere else.

Until next time,  J.
“Take control of your destiny or someone else will”

Mexico is an annual trip for me.  My folks live in Zihuantanejo for 8-12 weeks out of the year and it’s a great place for me to visit them without all of the other distractions of get togethers when home in the Bay Area.  Plus, it’s a retreat for my mind and body!  I rent an apartment on the beach, walk about 3 miles every morning, work for a couple of hours, and then see what the day will bring.

Having just spent both time (2 weeks) and money in Mexico, I thought you might be interested in some of the activities I chose during this visit and what they cost.  The dollar and the peso fluctuated, but for this I’ll use the low side of 12 pesos to the dollar….

If you follow me on Twitter, you know that I took private Spanish lessons, on the beach no less.  For one hour these cost 100 pesos each (or $8.33 USD)  In the U.S. it would cost a minimum of $25 for private lessons. My instructor, Tamara, joined us for dinner one evening…. here’s a picture.  (She lives in Portland, Oregon 5 months of the year, and Zihua the balance)

I also indulged frequently in one hour massages.  The two gals that I like are set up out front of my apartment, on the beach, under a palapa.  Imagine light breezes with the smell of the ocean and the sound of the surf.  Just walk over in your swimsuit… aahhh.  A one hour massage is 250 pesos (or about $20.80 USD)  Here in the states the minimum I’ve been charged is $80.

I had my haircut when there this time!  Of course it was pretty basic, no wash or blow, but hello- I can do that!  Know what Liliana charged?  90 pesos (or $7.50 USD)  Here in the Bay Area I pay between $55 and $100, depending on who I go to.

Para-Sailing was really reasonable too, I thought.  It came to 200 pesos (or $16.66) per person. I’m not sure what the charge here in the states would be, but it was a thrill to see spotted rays from above and the coastline of the Zihuantanejo Bay.

Food out in the restaurants is not the bargain it once was.  That is where I spent the most, well ok, I spent a fair amount on the margaritas too!

Let me know if you have any questions about other costs…. I may be able to provide the answer.

Until next time, J.
“Take control of your destiny or someone else will”

The phenomenon of a worker who may have been in the work force for 30 years, suddenly starting a new career at 50 or over is a trend that is exploding as baby boomers hit that age bracket.  There has always been a group of older workers trying something new but the trend has hit such a new high in the baby boomer retirement picture.  So you have to wonder what about baby boomers makes them want to start new careers late in life.  Possibly it is out of necessity these days, but it can still be fun and rewarding.

Part of it has to do with the way business has functioned in the last few decades.  In our parents working years, the norm was to work for the same company and be a “company man” for 40-50 years, get that gold watch and retire with a handsome retirement package.  That formula just doesn’t work any more.

For one thing, retirement plans supported by employers have become a thing of the past.  Savings for retirement have plummeted as the financial demands of life are all that many people can keep up with.  So the concept of working on into what used to be called retirement years is now a given if for no other reason than financial necessity.

The model we just laid out of employees staying with the same company for their entire adult lives is simply no longer a reality for all but a few in the modern work force.  Most baby boomers have worked for dozens of companies in their adult lives so their retirement packages, if they exist at all, are small.  Part of this can be attributed to the entrepreneurial spirit of baby boomers.  But there has been a discernable shift in the way American business works as well.  Companies don’t like the idea of keeping employees that long.  Add to that the fact that so many companies have gone out of business been absorbed in huge corporate buy outs or undergone drastic downsizing that by the time most boomers hit their 50s and 60s, the idea of keeping one single career moving forward is pretty hard to sustain.

But these negative explanations are not all there is to why baby boomers are starting over late in life.  Boomers never did accept that the rules of life or aging applied to them.  They are ambitious, adventurous and willing to strike on new paths with much less fear than previous generations.  As boomers have faced some of the challenges of the economy and the modern business world, they have responded aggressively by starting businesses or changing their careers entirely late in life.  And they are just as willing to pay their dues and stick with that new career until they are successful as they were when they were 30.

Many workers find a line of work and learn they can pay the bills and raise the kids early in life but they do not follow their dream career at that time.  So when the time in life comes that the kids are out of the nest, the house paid off and the adventure of living has settled down somewhat, many baby boomers see that as the chance to finally throw off that boring old career and go after their dream career once and for all.

It’s inspirational to see someone in that stage of life setting the standard for not settling for anything less than realizing their dream by launching a new career doing what they always wanted to do all along.  Who can fault boomers from wanting that kind of gratification of finding success in a career that fulfills their passions?  So thank goodness for the late in life boomers who go for the brass ring in their golden years.  They will be an inspiration for many coming behind them to be as bold about their lives as well.

If you haven’t considered working for yourself yet, maybe now is the time.  Regardless of what business you choose to pursue, it would behoove you to learn how to market online, and create your million dollar destiny.

Until next time,  J.

“Take control of your destiny or someone else will”

It seems almost absurd for baby boomers to think about retirement as the next stop in their long and eventful lives.  But the absurd has become a reality.  As the baby boomer generation moves into their mid fifties and sixties, that specter of retirement looms ever closer.  So it’s natural and appropriate to sit back and review exactly what that means to each of us. (Especially since times may be more trying than in the past).

For many, the traditional attitude toward retirement has been one of joy.  The concept of laying down your worries and bringing your work life to a comfortable end is something to look forward to.  The image of a life of sleeping late, golfing as much as you wish, taking up two or three hobbies and living a life of leisure is an idyllic vision in our minds for sure.

But the reality of retirement can also be a source of anxiety and fear.  If the baby boomer who approaches that threshold is not financially prepared or the affairs and concerns of their work lives are not ready to be set aside, the idea of having go retire simply due to age seems to be a harsh and an unpleasant prospect.  In both of these visions of a future retirement, we are probably working under as much myth as we are reality about what it will be like to retire.  But one thing baby boomers are good at is debunking myths and defying conventional wisdom and defining each era of their lives in their own terms.

We can expect the same as baby boomers move into retirement.  This is a generation that did not have the benefit of employers who were loyal to employees and kept the same staff from college through their retirement party and from whom they could expect a hefty retirement package.  But boomers are not the kind of generation that lets things sneak up on them.  Working with such excellent organizations as AARP, there are resources and options baby boomers can tap into to create a secure financial future despite the lack of participation by past employers.

But as with all other phases of life however, financial security is not what makes life worthwhile all by itself.  And as baby boomers see retirement coming at their next stop, another myth that has to go is that retirement is the end of the productive part of life.  This image of living a life of leisure, never working and letting others take care of us is not necessarily a healthy approach to retirement any more than it would be at any other phase of life. Many of us want to continue working and stay productive, but now it’s redefined as wanting to make our “work count”, and we’re either volunteering more, or turning our passions into income generating businesses.

Human beings are at their best when they are useful, creative, productive and pursuing a dream.  It has been shown time and time again that when a senior citizen can no longer be part of something larger than themselves and see themselves as productive in life, their will to live declines with the inevitable result of an end of life that is earlier than it has to be.  So the financial demand that some baby boomers face that they may have to work on into what is considered to be the “retirement years” may have a hidden blessing of extending their lives in a healthy way because these will the baby boomers who know they must stay fit and active because, just like always, they have to get up and go to work.

For those who do lay down their labors at retirement age, second careers are often a great way for aging baby boomers to not only create a second revenue stream but to pursue a career path that had always been a dream in life.  Another alternative as well for staying active and useful in retirement is to become passionate about a cause in life that has always been important to you.

Baby boomers have always been a people driven by causes.  So what better way for baby boomers to use their retirement than to become activists to make a difference in the world, just as they did in youth when they did so much to make a difference?

If you’re considering the option of continuing to work, have you thought about increasing your skill set and learning how to market online?  If not, you’re missing a huge opportunity…. To see how you can get started with an incredible education that you can use for any venture you pursue, check this out!

“Take control of your destiny or someone else will”
Until next time, J.

As baby boomers are rapidly approach what used to be defined as “retirement age”, a big concern often comes up about whether there will be enough retirement savings in place to be able to live a comfortable life later in life.  There have been plenty of rumbles from Washington that the Social Security system will not be able to bear up under the huge demand the boomer generation will put on it.  So few baby boomers are looking to depend on that money being there, even though we are all paying into it every month.

On top of that worry, the method our parents used of working for the same company for 50 years and retiring with a hefty financial package and a gold watch has gone the way of the dinosaurs.  Long ago corporate America began to eliminate retirement packages as a straight forward benefit.  So many baby boomers find themselves approaching retirement age with insufficient retirement monies to support them.  What is needed is a solid plan to attack this problem while boomers still have a good 10 to 15 years of working potential in them.  Some principles of that plan might be…

Simplify Your Life.

When the kids finish college and get out on their own, you may find your life could be simplified considerably.  You might not need as big a house and many of the extras that were important when you raising a family in that house.  Do a thorough review of your assets and your expenses.  You will find you can cut costs significantly and even begin to cash in on some of the extras you have had all these years and put all of those savings into the bank as a hedge for the day when you are ready to retire.

Pack the Bank Account Now.

The empty nest syndrome isn’t all bad.  There are some real benefits to returning to a lifestyle of just you and your spouse discovering life together.  You have conquered many challenges raising a family in this tough world and you deserve to be proud of your life of accomplishment.  But now you and your spouse can take on a big challenge that is just for you which is to get out there and generate income for retirement.

Both members of the union can take on as much work as can be found.  Often in the mid to late fifties, the primary bread winner may be able to retire from that job they have held down for several decades.  But instead of beginning to live off of retirement funds, get another career going that can generate another ten to fifteen years of income.  With good budget management, it’s very likely you will be able to bank at least one entire income if not more and put all of that money back into retirement.

Working with your investment counselors you can find ways to shelter that extra income so it stays out of the tax system until you are ready to use it.  The good news is that this push for productivity and revenue generation late in life can lead to a healthy retirement budget that can benefit you well as you finally sit back to enjoy your leisure years in the rocking chair taking care of the grandkids. (Or traveling to places you’ve dreamed of and writing postcards to the grandkids!!)

Identify a Money Generator that Can Stay With You

There are second careers that you can find that will become a good source of supplemental revenue even after you retire.  Start now looking for a potential “retirement career” which will be a line of work you can do even after you retire to generate additional income for you.  Writing or internet marketing is a good way to set up a home based business that you can continue to work at as long as you can type, see reasonably well and your thinking capacity is sound.  (Plus, this can be done from anywhere – even while you’re traveling and writing postcards to the family!)

Retirement jobs have the double benefit of adding to your revenue resources and keeping you active and enjoying life in your retirement years.  And that is what all of us want.

Take control of your destiny or someone else will
Until next time, J.

This is the time of year that many people are looking inside themselves and decide to volunteer in their communities. It’s a time of year that many acknowledge with gratitude how blessed their life’s are and want to “give back” or “pay it forward”.  However, it’s also glaring how many non-profits are hurting for volunteers right now.  One of the groups I support has been actively looking for more volunteers.  Numerous people have had to go back to work and don’t have the free time they once had, or because of rising gas costs feel they can’t participate any longer.

If you are in a position to support with either time or monetarily, I know the Seniors in the programs would sincerely appreciate it.

Meals on Wheels delivers hot meals primarily to homebound persons over the age of 60 who are unable to cook or shop for themselves.  Deliveries are made each weekday, and sometimes the contact a client has with a volunteer driver may be the only person they interact with all day.  So it is as much a social visit as well as providing a nourishing meal.

For more information visit: Meals on Wheels and if local in the Contra Costa County visit: Senior Outreach Services.

“Take control of your destiny or someone else will”

I came across an interesting site and wanted to share the resource with you.  Evan Carmichael has listed the top 50 blogs for startups in 2009.  There are numerous categories such as News, the Web, Trends, Marketing, and finding that BIG idea.  I know we’re a bit past mid way in the year, but it won’t hurt to take a look at these!

Until next time,  J.
“Take control of your destiny or someone else will”