Zoomers Finding Money After Retirement

First things first, what are zoomers? First thing I asked myself when I first saw the name, and now I am loving it. In simple terms? Think of a ‘baby boomer’ with zip! Now, to be a bit more technical on that subject, the zoomer demographic includes people 45 years old and up. This group includes more than 35 million people in North America, who happen to control a remarkable 78 per cent of the wealth and account for 57 per cent of all consumer spending.

Zoomers account for almost 50% of household incomes of $200,000 or more (this varies of course from Canada to the United States, so these numbers are approximated), they buy more new cars (56 per cent) than any other age group, they take more trips, they purchase more electronic devices, and they contribute more to charities and the arts than any other demographic.

Zoomers vote the most often in elections at all levels, and often pay the most taxes.

Now, knowing this it might help take a little bit of the stigma off the zoomers aging reputation – however, what happens when they retire? Although they have been able to earn a decent corporate or entrepreneurial income over their careers, what happens when it is time to retire?

Or heck, given that they pay the most taxes, would even be beneficial to look into different ways to 1) earn extra income from home 2) take advantage of tax deductions available to home based business owners.

I want you to take a moment and think about how awful this next question is…

Can you (zoomers) afford to retire? zoomers

We spend plenty of years counting down the days to retirement, only to come to a situation that may prevent you from doing so. An unfortunate number of the population has had to continue their employment due to financial stressors that do not enable them to retire, just yet.

So of course, there are a variety of factors to consider before retirement. 

  • Financial preparedness
  • Savings
  • Health
  • Personal responsibilities

…and many more. But let’s start here. Although the statistics varying their accurateness, more people that fall into the zoomers (and baby boomers) generations are slightly higher prepared for retirement than other generations. Having said that, there is still a gross number in desperate need of options, alternatives, and ultimately solutions.

Threats to Your Retirement Income

We’re living longer. North Americans, are living longer, raising the possibility of running out of money in retirement. A significant decline in health, sudden critical illness, and a need for quality and affordable long-term care are risks we all face as we age.

Private pensions changing. We’ve become increasingly exposed to systemic risk. Some plans may become underfunded or insolvent if the employer faces financial difficulty, meaning severe reduction or even total loss of pension benefits. Defined contribution plans, which let individuals choose contribution levels and pension management options, are becoming more popular. This indicates a bit more control, however in the long run this can hurt.

Inflation. Inflation is always a threat because it erodes the purchasing power of your savings.

Investment risks. Interest rates, stock markets, etc. are a constant variable. We went through episodes of all time lows to numbers people couldn’t even fathom, let alone afford or qualify.

Fixed Living. Depending on your demographic, your old age securities or pensions will vary, but often to the tune of $600.00 to a maximum of $1200.00 a month are the averages. How does anyone, forget living comfortably, but live at all with such ludicrous numbers? Certainly not the lifestyle zoomers were once accustomed to – hence the reason many people are working longer.

A rule of thumb is that in order to maintain your lifestyle during retirement, you will need 60% to 70% of the average annual income for the last five years of your employment before your retirement.

….if you are open to acknowledging that every little bit extra helps, this list of options might be for you.

Three Ways Zoomers Can Earn Money Into Retirement

  1. Sell Online. This might include Etsy for the crafters, could include a Pinterest board with all fun things DIY. Maybe you’d enjoy selling items on Ebay or Amazon – or perhaps a Home Based Business like ARIIX is an option – working with a support team and having an infinite income ceiling (that part is often the most appealing)
  2. Restore and Repair. Are you handy? We often see some people who take a hobby and turn it into a side income, like fixing up bicycles or lawnmowers for example. It not only keeps them busy, and active, but brings in a few extra dollars.
  3. Become a Tour Guide. Now, this can obviously vary based on where you reside, but a definite option for those who would like to chauffeur tourists, or show those world travellers around.

You will notice each suggestion is a little bit different than the rest, and the point is, there are options. My ideal situation is to be able to work from home, on my computer (or smart phone) and have the ability to build a global business. This in turn, allows me an income to travel not only where, but when I want too.

The idea is, be in the know, especially those coming into the ‘zoomers’ years and plan. It is easier to say you will figure it out when you get there – but it is likely you will not retire … when you would like.

Start early. Plan now. You deserve it.


Did this help you? If so, I would greatly appreciate if you shared this content and commented below.

I look forward to hearing from you and love to know, does the term ‘zoomers’ fit you?

And, definitely check this out in the event you are looking to see how it is I have changed my life through the Network Marketing Industry over the past 12 years (and how you can too!) 

Rick Billings
Email: rick@rickbillings.com
Facebook: http://facebook.com/rickbillingsentrepreneur/
Skype: rbillings3

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