Bohemia, NY (PRWEB) February 20, 2013
On February 20, developer of Savings2Income, Jerry Golden, issues a statement in response to an article describing the ways many baby boomers are finding money for retirement.
According to a Wealthmanagement.com article titled “Seven Ways Boomers Are Rewriting the Rules of Retirement,” writer Mark Miller said baby boomers have changed the way people live life. Now, baby boomers are not rushing into retirement. The article said they are starting businesses, moving to other countries and getting involved with the digital world.
The article said that approximately 21 percent of baby boomers have an interest in retiring abroad due to lower living costs and warmer climates. It also said that the number of retirees getting Social Security benefits in a different country continues to increase twice as fast as the number of people getting Social Security in general.
In 2011, 21 percent of new businesses were launched by businessmen and women age 55 to 64, the article said. This number is up from 14 percent in 2007. The article also said 28 percent of business startups in 2011 were launched by entrepreneurs age 45 to 54. That means nearly half of all startups for that year were launched by older people.
However, the article also said baby boomers are retiring with a lot of debt and having to provide financial assistance to aging parents, and for their children. “Mortgage debt is the biggest factor,” according to the article.
Jerry Golden, developer of Savings2Income said, “It’s hard to retire now. People have lots of expenses and money just doesn’t go as far as it used to. That’s why more baby boomers are investing in businesses and trying to control their own futures instead of working for someone else.”
Golden said starting a business is risky and might not always work out, so it’s important for retirees to have their own retirement plan. “Starting your business sounds like a great idea, but if it’s not a success, it could bankrupt you,” he said. “People need to make smart decisions about how they manage and invest their money. There are options which produce retirement income that you can rely on, but it’s necessary to talk to a financial professional.”
An innovative retirement planning method called Savings2Income (S2I) created by Jerry Golden seeks to provide a clear path to retirement security for those saving for retirement, soon to retire, and recently retired. S2I incorporates Rollover IRA savings, personal retirement savings held outside an IRA or 401(k) plan and Social Security into an integrated solution.