for Unconventional Retirees
Creating wealth does not require hard work,
self-sacrifice, or getting up
ridiculously early, just
quality of thought, imagination, and enthusiasm for what you
Would you rather run out of retirement income or die instead?
According to a recent survey by Allianz Life titled “Reclaiming the Future: Challenging Retirement Income
Perceptions,” 61 percent of the 3,200 baby boomers and retirees (ages 44 to 75) said they feared
outliving their retirement income more than they dreaded dying.
More than 90 percent of baby boomers feel the United States is facing a retirement crisis. Respondents
indicated that they were aware that they may be contributing to that crisis by not saving enough so that they
have an adequate retirement income:
It appears that few retirees have asked that important question: How Much
Do I Need to Retire?
Most of the soon-to-be-retired said they don’t know how much retirement
they will require once they retire and they fear that they will outlive their
Respondents to the study also said they expect a lot from retirement - 79 percent
said their retirement lifestyle must surpass their parents’.
In my opinion, these people are delusional, but that is another story.
Survey results showed that the median annual retirement income retirees and the soon-to-be
retired targeted is $59,000, but baby boomers’ savings are on track to provide only about $20,000 (one third of
the retirement income that they would like).
If you are one of these people, you have to save more money — no excuses.
Saving Money So
That You Have Enough Retirement
1. Start saving immediately regardless of your age — even a little amount goes a long way and sets you
up for future success.
2. If you have a hard time saving money, create a budget and control your spending.
3. Set financial goals and monitor your progress regularly.
4. If you work for an organization, sign up for it's pension plan.
5. Always make full use of tax-favoured investment vehicles.
6. Set up an automatic savings program with at least 15 percent — preferably 25 percent — of your
income targeted for your retirement account.
Here are the top 10 sources of retirement
income available to Americans according to another recent survey.
1. 401(K) & other retirement savings accounts
2. Home equity
3. Pension plans
4. Social security
5. Bank accounts and certificates of deposit
6. Stocks and mutuals funds
jobs and retirement businesses
8. Annuities or insurance plans
10. Rent and royalties
Incidentally, although "rent and royalties" are 10th on the above list and constitute the lowest part of
the average retiree's retirement income, I have made future royalties a big part of my retirement plan.
My retirement books, including How
to Retire Happy, Wild, and Free
and my new one called
How NOT to Retire BROKE: Prosperity Principles for Creating $250,000 or More for Your
should provide me with a residual retirement income for many more years.
Retirement Income of American
Truth be told, currently the majority of Americans who live in retirement
don't have a lot of retirement income.
Following, according to the 2007 U.S. Census, is the total retirement income for American households age 65
• Under $5,000 (2.4 percent)
• $5,000 to $9,999 (7.7 percent)
• $10,000 to $14,999 (13.3 percent)
• $15,000 to $19,999 (11.4 percent)
• $20,000 to $24,999 (9.3 percent)
• $25,000 to $34,999 (15 percent)
• $35,000 to $49,999 (13.7 percent)
• $50,000 to $74,999 (11.9 percent)
• $75,000 to $99,999 (6 percent)
• $100,000 and over (9.3 percent)
According to these statistics, about 24.4 percent of Amercian retirees have a retirement income less that
$15,000. Interestingly, 44 percent of these retirees have a retirement income of less than $25,000 and 59
percent have a retirement income of less than $35,000 per year.
On the other hand, about 15 percent have retirement incomes greater than $75,000.
Increasing Your and My Retirement Income
A question that arises is: "How can I increase my retirement income."
There are many ways to do this.
With the internet playing such a big part in our lives, unconventional retirees can continue to work for an
additional few more years to generate additional income without having to be subjected to a coporate
environment where they are chained to their jobs.
There are many areas of retirement work that can be undertaken from the comfort of the
unconventional retiree's living room, at a coffee bar with a wireless Internet, or even on a beach by a lake or
ocean. All these retirees need is a high-speed internet connection and a reliable laptop!
Of course, corporate jobs aren't for everyone. In fact, most unconventional people would rather
not work in a corporation and would like to have no corporation involved in their retirment
Luckily for us, some of the best opportunities to earn extra retirement income don't require
that we work in an organization all day.
Whether you are a creative person who doesn't want to set aside your creativity just to earn a
paycheck, or you are simply looking for work that keeps you active in a fun way, the following ways to earn extra
retirement income should excite you.
1. Internet Business Owner
2. Public Speaker
3. Retirement Life Coach
4. Seminar Trainere
5. Creator of E-books
6. Freelance Filmmaker
7. Home-Based Travel Agent
8. Virtual Assistant
9. Tea House or Wine Bar Owner
10. White Water Rafting Outfitter
Learn about your dream job before a career change with a one-on-one mentorship. Shadow a successful mentor
already working in your dream job. This Organization gives people a chance to test-drive a dream career
before they jump in and leave their current job. For a fee, you get to spend two days on a VocationVacation,
working one-on-one with a VocationVacations Mentor, to see what your dream job
is really like.
Quotes and Money Quotes
Money is what you make it. Depending
uponwho you are - and your frame of mind
- money can be anything you want it to
be. Money can be: the root of all evil; or
that which answers all things; or something
that burns a hole in your pocket; or a means
to freedom; or an interesting concept; or even
a stupid concept. Whatever value you place
on money, you must take responsibility for it.
If money is evil to you, you created it being
evil. If money is a problem to you, you created
it being a problem. If money is joy to you,
you created this concept. Take responsibility
for your concepts. And be clear that these
are just concepts. Nothing more and nothing less.
- from The Lazy Person's Guide to
Let's spend all our money to buy cool stuff. Later we can sell it all on eBay to pay
for our retirement.
- from Glasbergen cartoon
Money is easy to handle; there are two
secrets: the first is spend less
than you make. If this
doesn't work for you, then the second one is definitely for you: make more than you
spend. That's all there is to
- from The
Joy of Not Working
No man is rich whose
expenditure exceeds his means; and
no one is poor whose Incomings exceed his outgoings.
Every day I get up and look through the Forbes list of the richest people in America . If I’m not here, I go to work.
It's better to be out
of money than out of new creative
ideas on how to make money.
- Unknown wise person
Money will appear when you are doing the
right thing in your
- Michael Phillips
Spending a lot of money will get you trapped
into thinking you are having a
good time when all you are doing
is spending a lot of money.
- Unknown wise retired
As long as I get air
conditioning in my cardboard box, I'll be OK [in retirement].
- Barbara Whelehan, Bankrate.com writer
Draw you salary before
What a lot of things
there are a man can do without.
The only reason a great many
American families don't own an
elephant is that they have never
been offered an elephant for a dollar down and easy weekly
- Mad magazine
For Those Who Absolutely, Positively Want
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Copyright © 2017 by Ernie J. Zelinski
ALL RIGHTS RESERVED