Baby Boomer Lifeboat   

    Tips for Comfortably Retiring on a Tight Income

Baby Boomers can still retire, even on a tight income, by taking steps to stretch their dollars! 

Tips, ideas and advice for making Baby Boomer retirement income go further!


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Older Baby Boomers Must Overcome Setbacks
From the Great Recession to Retire

It is estimated that more than half of Baby Boomers fifty or older were seriously impacted by the Great Recession. Most saw their retirement savings, much of it in 401Ks, take a nose dive. Home equities often vanished and many found themselves suddenly upside down on their mortgages. According to the Center for Economic and Policy Research, “The collapse of the housing bubble has decimated the holdings of the vast majority of near retirees, who will have little or no housing wealth this year and will be almost totally reliant on Social Security and Medicare to support them after retirement.” And there is insufficient time for older Boomers to recover lost wealth prior to reaching retirement age.

The situation for those in their fifties and sixties is exacerbated because so many have lost jobs and are discovering it is difficult to find employment at their age. Despite having a wealth of experience and college degrees, most have begun to realize that the only employment available to them involves phrases like “Would you like fries with that?”

Facing this bleak future, older Boomers are redefining retirement to include continued work. Many are launching home-based businesses. Leveraging their experience, they are building online consulting businesses, training and tutoring programs, and ecommerce outlets to name a few. Although these take time to build, they generate supplemental income that has now become crucial during retirement. Plus, they get to be “captain of their own ships.”

Others are retiring abroad where the dollar goes a lot further. American enclaves can be found in Mexico, Panama and many of the countries south of the border where one can comfortably live on Social Security benefits.

Older Boomers are also becoming adept at reducing living expenses without sacrificing quality. They are learning how to maintain a comfortable standard of living by being smarter in their purchases and utilizing widely available resources (such as coupons and discount services). Planning and budgeting have become part of their lives.

Despite their financial setbacks, these Boomers are discovering that can still retire. Part of the solution involves changing their perspective of retirement. Part is educating themselves on the available alternatives, approaches and options previously unconsidered.

Older Boomers who learn to overcome retirement challenges enjoy being in control of deciding how to spend their own time. They have to come to realize that the most important things at this point in life are achieving a sense of fulfillment, spending time with their families and friends, and enjoying rewarding experiences.

About the Author

Al Kernek is an “older” Baby Boomer and entrepreneur who has created and operates several online businesses. He is also a noted author with several published works. His latest endeavor, “How 50+ Baby Boomers Can Still Retire,” may be found on Amazon and is widely available in eReader formats as well. This informative book can also be purchased at

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