Baby Boomers: For many Economic Woes Mean Scaling Back Retirement Plans
As the economic meltdown continues into another month, the global economic challenges are affecting people in ways they didn’t expect. Although it seems strange that no one was able to see this crisis coming, it cannot be denied that the housing market and the falling stock market are affecting most of us. Costs for such essentials as heating our homes and buying groceries are rising. Because it doesn’t look like there is a quick fix for the world’s economic woes, it is becoming necessary for most of us to start thinking about ways to scale back our plans and cut corners and reduce spending on many things.
The good news is that the human spirit is adaptable. We are able to adjust and adapt to difficult times and come through them stronger. Making some simple lifestyle changes can help to reduce costs and stretch income. For example, just unplugging seldom used appliances can save money on the electric bill. Turning back the thermostat two degrees and wearing a sweater, can also save money. We might also want to start thinking about choosing less expensive cuts of meat or planning meals more carefully.
By now, we should all have our own approaches to saving gasoline. But there are many ways to stretch the income we have in these tough times. So, I’d like to open up a conversation on ways to scale back in these hard times. I’m hoping we have some folks reading this blog who recall the ways their families saved during the great depression. I believe you will have ideas and insights that can help the rest of us. So please share your thoughts and experiences here.
November 11th, 2008 at 8:17 am
These are great ideas…and will help the marginally suffering. Those who need to cut out a few hundred dollars these suggestions will certainly help. Unfortunately there are those fixed bills, house payments, insurance, taxes etc…
November 11th, 2008 at 2:41 pm
Hey Cynthia! Great blog, these are some good tips! Retirement has been tricky lately due to the current state of the economy. So many boomers are pushing back their retirement or even coming out of retirement and continuing to work. It’s unfortunate, but with enough planning like what you’ve mentioned — maybe it won’t have to be like this!
Also, keep in mind that there’s one company who will be there to help you out as you travel down the road to retirement. They’ll help you with all the ins and outs so you can enjoy your golden years!
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Definitely check out AARP for yourself or a loved one. There are really are some great benefits to joining!
I hope it’s alright that I commented on your blog — wanted to let you know about the fun video with Cristina and AARP’s great benefits. If you have any further questions, please don’t hesitate to email me.
Thanks!
Isabella Coldivar
AARP Ambassador
isabellaAARP@gmail.com
November 16th, 2008 at 7:44 am
I am sooo with you. We can re-invent our life and we are flexible and agile. This is very uplifting, especially in these tormented times.