How can Baby Boomers Turn Retirement Challenges into Opportunities?

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Turn retirement challenges into opportunities and take control of your life

How can you switch retirement challenges into opportunities if all is preset anyway? Well, is it?

Every day more baby boomers are retiring. Unfortunately, the dream of spending the rest of your life on a sailboat or golf course is not the true story for most people going for retirement.

Different surveys show that most people will have less money than expected when retiring. Many boomers pick up extra work because they need to, or in a more straightforward way to express it: they don’t have enough money to retire.

Another side of the coin when it comes to turning retirement challenges into opportunities is the fact that many baby boomers just can’t adapt to the slower lifestyle as retired. It just doesn’t suit them. Many continue with their previous job, part-time and on a consultant basis.

For too many, retirement is a shock when the date is there. A large number of people don’t have a clue of what the income as retired will look like. Further, Goldman Sachs came up with a study saying that most retirees (in the U.S.) live on less than 50% of pre-retirement income.

The ongoing inflation adds some more challenges to the equation. At least in the U.S., it’s the worst period of inflation in the last 40 years. The problems have a similar shape in the rest of the world.

Suppose you, as retired already, are fighting hard to get your economy to fit into your new way of living. In that case, inflation for sure will have a substantial impact on your plans.