According to Economix, there are more seniors in the job force than teenagers for the first time since 1948, when the Department of Labor first started keeping records. According to the Social Security Administration, a teenager with a part-time job has more disposable income than a senior on a fixed income. This is particularly astonishing considering the fact that the senior has spent an average of 45 years in the work force. Escalating inflation only exacerbates the problem. For many retirees, equity in their home was the biggest part of their nest egg, but plunging home values has had a severe negative impact on that equity. Record numbers of seniors are attending job fairs.
What does any of this have to do with working from home or starting your own home based business? Plenty, if you recognize the fact that we will all eventually be seniors. But we are all planning and saving for retirement, right? Wrong! CNN Money reports that an astonishing 29% of workers over 55 have less than $10,000 in retirement savings. Do you believe that less than $2,000 a month from Social Security will provide you with a great retirement? On top of that, Medicare and Medicaid premiums, drug coverage, and money needed for co-pays, eats up about 26% of your Social Security check, making the picture even more ominous. And who can even hazard a guess as to what the eventual cost of Obamacare will be?
There are many visionary people out there who looked down that road, and didn’t like what they saw. They knew they needed to supplement their incomes somehow, because like many of us, they lived paycheck to paycheck with nothing left to save. They couldn’t leave their jobs for better paying ones, because there weren't any. But they found a way. They became entrepreneurs. They started their own home based businesses. They looked for the right business opportunity and went after it. Today, there are over 30 million households in the US in some type of home based business. Those businesses generate at least half of their owner’s income, and in many cases, all of it. So, you can continue doing what you’re doing and hope for the best, or do what the people in these videos did – they went after it and their futures are financially secure. The choice is yours.