Boomers: How Is Your Ship Surviving Our Current Sea of Economic Stress? Are You Looking for a New Job, Moving In With Family, Planning an Expat Lifestyle? Or Sailing Ahead?

“Ahoy There,” “Hola,” “Aloha” and “Permission to Come Aboard,” Fellow Baby Boomers!

All apologies for the fact that this blog has been “beached” for a couple of months now. The good news is, we’re about to set sail again!

Hopefully You Didn’t Think We’d Gone “Off the Radar.” Or Fallen Off the Face of the Earth…

Actually, the state of the “Boomer Lifestyle” blog ship is sound and all aboard are well! Fact is, we have been off exploring, seeking ways to better serve you.

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Boomers, Seniors, Retirees: Need to Replace Income Lost In Recession? Have You Discovered How to Get “Linked In” to the Social Networking Sites to Assist In Your Job Search?

Does the Recession Find You with a Decimated 401(K), Your Savings Tanked and – Worse – Forced to Look for Work?

If so, you’re not alone. That’s what happened to one of my daughter’s co-workers, a guy we’ll call “Ron.”  Perhaps you’ve known someone like Ron, or had a “Ron” at your office, too. If so, he’d be the guy who’s famous for taking penny-pinching to the “nth degree.”

According to my daughter, Ron scrimped and saved his whole life, building up a huge stock portfolio – with the intent of leaving his former college and several charities major endowments on his death.

She tells me Ron was the epitome of financial prudence. While she’s no slouch when it comes to being economical, she says this guy could one-up anyone when it came to scrimping and saving.

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Nest Eggs Shrinking, Home Prices Falling, Financial Anxieties Blooming: Should You Put the Brakes On Retirement Planning and Power Up Those Dreams For a Business of Your Own?

Are You Worried About the Economy?

Who isn’t? After all, if you haven’t already experienced major losses, you’ve been hearing from a host of respected financial experts - like Brett Arends who writes the “ROI” column in the Wall Street Journal - who are wringing their hands, while telling everyone to “bite the bullet,” and “stash your cash” as they frighten you with stories of a pending depression, should our economy continue spinning into freefall.

Meanwhile, as the news flows, the Dow pumps up and down erratically, sort of like your blood pressure.

In case you missed today’s column, Arends wrote: Read more

Daring New (Non-”PC”) Topic for Cocktail Party Conversation: “Do YOU Think You Will Have Enough Money When It Comes Time to Retire?”

This very provocative question is of the type that my socially correct mother raised me not to ask: Everyone knows it’s socially unacceptable and completely impolite to discuss topics like how much money someone makes, or how well off they are. Questions like that are “Totally CR and SU,” as we used to say in college: “crude, rude and socially unacceptable.”

But the point is, we are starting to ask this question of each other, and I say this is a good thing.

If we don’t talk and plan, we’ll end up unpleasantly surprised, as many of my Boomer-aged coaching clients have discovered.

Consider one of my former clients, a dentist from Indiana who sold off his practice for slightly more than $1 million at the young age of 61, and then began looking at his options. Only to discover that a million dollars doesn’t go as far as it once did – especially since he still had school-aged children living at home.

• He quickly realized that unless he took massive action of some sort, he was in no condition to maintain his current lifestyle.  Especially since he was in good health and had every reason to suspect he would live for another 30 years!
• Thankfully, he was quite entrepreneurial, and we quickly came up with several business concepts based on his professional expertise, which would generate a steady passive income stream, and would not require him to get back into the daily grind of seeing patients in a clinic setting.
• I’m happy to say he is living the good life, these days!

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