Last Chance Millionaire

See this AP Newswire Boomers Likely to Delay Retirement on the News Section of my website.

It says that Boomers have less kids, less retirement cash, and will retire substantially older than previous generations, or not at all.

In fact, apparently since Social Security was created 50 years ago, retirement age had been trending toward younger ages until about the 1980s.

Sure, we are living longer. Sure, I certainly don't plan on quitting work and being idle, a sure formula for an early grave. But to me retirement means financial independence. It means freedom to choose. So in that sense, it's important and I want it now.

What's overlooked with Boomer retirement is the enormous riches they've accumulated from about 2000-2006 by simply owning their homes. This could be the key to salvaging themselves from the brink of retirement failure if they just get a clue how to preserve and grow their most fortunate, if only inadvertent new wealth.

And if you look at the real estate news on my website, you'll see that they'd better act fast before that wealth disappears. It'll take precious years to not only recover the loss of their home equity values, but the additional growth they could have yielded if they had acted to grow and diversify that equity before the real estate market deflated.

Good new book came out this week that really summarizes the situation and solutions. Last Chance Millionaire by Douglas Andrew. Let me know what you think of it.

Doug will be in town next week giving seminars. Contact me if you want to go.