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Baby Boomers

WHO ARE BABY BOOMERS?

Baby boomer is a term used to describe a person who was born during the Post-World War II baby boom between 1946 and 1964.

Following World War II, several English-speaking countries – the United States, Canada, Australia, and New Zealand – experienced an unusual spike in birth rates, a phenomenon commonly referred to as the baby boom.

The terms, along with others expressions, are also used in countries with demographics that did not mirror the sustained growth in American families over the same interval.

BOOMERS IN CRISIS

The economic woes that are forcing homeowners into foreclosure, choking spending on nondiscretionary goods and driving up credit card bills may claim another group of victims. In the coming years, broke baby boomers could well be the norm. Consumers 45 years and older are raiding or at the very least compromising their retirement accounts. They are shrinking or skipping monthly payments to these accounts at an alarming rate. Even regular visits to their doctors and prescribed medications are being neglected because there is not enough money to go around.

AARP found in a recent study that as many as 25% of Americans age 45 to 64 said they are taking these steps to stay financially afloat. That will put them at a severe disadvantage when retirement hits. Especially if they have allowed their health to suffer and they must put off retirement to make ends meet. Standard and Poor reports that the average American household saving rate remains at 0%, making it even more difficult for older Americans to finance their retirement.

"This is a horrific scenario," said Tom Nelson, AARP's chief operating officer, "People are feeling the pinch in the short term...but in the long term, consequences being faced by these individuals and our economy for years, if not decades, are frightening." The report goes on to state that the youngest baby boomers were having the most problems paying their mortgages or rents. They were more apt to pull money out of their 401(k) account and other investments than change their lifestyles. "If this economic downturn worsens or lingers", Nelson said, "the future for the youngest baby boomers could be grim".

Nelson painted this picture: A 45 year old who postpones bill paying, cuts back on necessary medications and stops contributing to their 401(k) is undermining his credit rating, putting his health at risk and loosing an economic base. Fast forward 20 years and those issues have only gotten worse. Making matters even worse, he said "people tend to assume they are going to die earlier than they actually do".

Many don't plan financially to live until they are 90 because they do not think they will live to be 90. "Retiring in a period like this strain's assets in the best cases and this is far from the best case" said David Wyss, S & P's chief economist. If older workers aren't adding to their wealth and if their asset values are falling, the prospects of a comfortable retirement are receding. Wyss said he thinks more retirees will look for "bridge" jobs but such jobs will be hard to find.

The good news is, there are creative ways to make money and create healthy baby boomers. We don't have to sit back with our blinders on with a feeling of no hope. We need to take charge of our own health and finances. They go hand in hand!

The time to act is now. Do not let this unique business opportunity pass you by. Join The Health-N-Wellness-Team today. If you have a genuine desire to improve both your health and your wealth contact us immediately. You will be meeting a like minded team of baby boomers and their families who are focused on a proven system that will guide motivated people to an optimal health lifestyle.

Our Health-N-Wellness site will supply individuals and families alike with the tools and support to succeed. Let us show you how to get started today on the path to health and financial freedom.

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