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Why You Should Rethink Your Retirement Plans

Re-thinking your retirement plans and combining your chosen lifestyle with a new form of self-employment is a major step. The promised rewards are great from many points of view. But whichever way you look at it, this is a major step in your life. And that is all the more reason why you should consider certain facts.

The world of work has changed
A changed world means retirement planning should change.When the western world experienced a huge increase in the birth rate, between 1946 and 1964, few thought about the changes in demographics that the baby boomer generation would cause all the way through their lives, and particularly now they are reaching traditional retirement age. Few knew that when baby boomers were getting ready to retire the workforce would be on the decline and thus the number of people in work and the number of people in retirement would be a long way apart. The proportion of taxpayers to pay for services for people no longer paying tax is a declining ratio. Retirement planning from the past is not proving to be adequate for many of today’s baby boomers.

The economy has changed
For several years we have been going through turbulent times all around the world, obviously with some countries more badly affected than others. Everyone’s finances have been affected in some way, or could be affected in the future, and as a direct result many people are finishing their traditional working life financially insecure. Only you can do something about your own situation.Your retirement planning needs to take into consideration the lifestyle you want to live, the new world of work and your current financial situation.

The internet is a world changing invention
Communication, trade, business, promotion, sales and more are all a part of the digital revolution. You are not obliged to join the internet revolution but the rest of the world has and will continue to do so. The internet has a huge range of opportunities for everyone who has an idea, some skills and a will to make it happen. You can be part of it.

Help is at hand!
I invite you to visit BoomersNextStep.com regularly. Join our Facebook community – BoomersNextStep and share your thoughts with others who are on a similar journey.

Jenni Proctor

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