The New Retirement Means Being Broke!

The latest newspaper headlines regarding retirement, particularly those relating to baby boomers, indicate that many Americans have to delay retirement — or may never be able to retire. Here are some of the headlines from major newspapers in the last two or three days:

• Baby Boomers: retirement may be a mirage!



• The middle class can expect big retirement troubles



• Slow economy forces seniors out of retirement



• Middle Class? Dreaming of retirement? Forget it!



• Retirees Could Face Final Years in Poverty



• Study: Retirees should live frugally



• Longer lives, not enough savings



• Americans Dipping into Retirement Funds Early



• Workers Raid Retirement Funds During Tight Times



• More Raiding Retirement Funds Amid Economic Woes



• Returnment — the new retirement

In one of these retirement articles, a new study warns that about 75 percent of "near retirees" — those ages 58-65 — will outlive their savings unless they reduce their pre-retirement standard of living by more than one-third. For many Americans, that may mean downsizing their home, selling one of their cars, not eating out as often, and giving up planned vacations. It may even mean having several jobs during retirement.

It appears that the new retirement for baby boomers means a gruesome retirement. Fact is, if most baby boomers weren't so spoiled and so irresponsibile human beings, they wouldn't have a problem with their retirement. In other words, if you are a baby boomer, it's all your fault that you can't retire at 55 or 60. Don't blame the government or the economy or anyone or anything else.

I semi-retired when I was 35 and had a net worth of minus $30,000. Even though I have worked less than half of my adult life and have never made a penny in house appreciation (simply because I rented for all these years), I can remain semi-retired quite comfortably.

If you would like to be able to do the same, I recommend this well-titled book for which I have adapted a short review from two other reviews:

You're Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead, by Larry Winget. The author is a no nonsense guy and a master of tough love. This book will tear down every excuse you can think of and show you that it's your choices that are making you broke.

Warning: You have to quit blaming all of your financial problems on outside forces and circumstances. The author is extremely direct - in other words he tells the truth about things. So if you get upset about that, maybe you should pass on this one, continue to blame your problems on someone else, and end up broke in retirement — like a lot of baby boomers are likely to be.

To be sure, there's no sweet talk in Winget's advice, who summarizes money management to these points: Get off your duff and start doing the hard work necessary to make financial success happen. His advice includes: Give up cable TV. Get a cheaper car. Move to a more-affordable home. Live on what you earn.

This guy pulls no punches, and points his finger right where it belongs — at YOU — the person who created your financial mess. In short, Larry Winget really explains why your retirement prospects suck!

The 237 Best Things Ever Said about Retirement — A Free E-Book (in PDF Format) of Retirement Quotes for your Retirement Speech or your Retirement Letter

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Note: Vipbooks Author Ernie Zelinski offers even more retirement planning wisdom in his books How to Retire Happy, Wild, and Free (Over 95,000 copies sold and published in 7 foreign languages) and The Joy of Not Working.

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