I can't imagine my parents not having sufficient residual income, or what known as retirement source of revenue, but after the recession and double-dip collapse of the U.S. stock market in 2008, my parent's 401k's were wiped out. Their separate financial advisors told them each to "ride out the storm" and even to shop deeper positions of their 401k's for deeper positioning when the eventual correction occurs. Well, the market correction never came, the market simply flat-lined and remained dead for just about the entire year of 2009 and now it if truth be told is 2010 and the market is starting to breathe but not correct. It may be another five years before the total value of my hardworking parent's retirement source of revenue is recovered. But my parents are not by myself, there are thousands of American households that have been financially destroyed by the double collapse of the U.S. stock market in 2008. The baby boomer generation for which many children had thought would be financially safe in retirement , now have fallen into the quandary of on the seek for hand-outs from their very own adult children in order to continue to exist retirement. Some baby-boomers like my parents have made up our minds to go back to the work force; consulting , tutoring, mentoring young career professionals or as a matter of fact finding a nine-to-five part-time or full time job so as to recoup their lost retirement savings. There appears to be a wide disconnect between the financial numbers the media reports and the financial affect those recession numbers equate to inside the real planet when it comes to real lifestyles changed. My parent's approach to lifehas changed. I moved in with them and pay them rent. Albiet, the rent is much cheaper than what I used to be in the past paying, but in any case it in actual fact is money they can use to place into their retirement portfolio and annuities. It seems with the annuity they're secured with a life-time payout of source of revenue although it is going to be significantly less. My parents must work five more years in order to have enough retirement source of revenue to live above the poverty line as described by the U.S. Department of Agriculture, Bureau of Labor and Statistics. How far has U.s.a. fallen that it has ruined the lives of Usa's greatest generation?-the baby-boomers. This is similar generation with the intention to now live out their retirement years without residual source of revenue. On the other hand, my parents had a twist of luck, my mother discovered E-bay. Yes, the internet has provided an additional means for my parents to recoup their retirement savings and have some for of residual source of revenue too. My mother has opened an auction channel where she sells items for other persons on Ebay. She has cleared out their garage of old junk and made a quick $10,000 in one month. Now she and my father share the work week consulting with clients that contact them through their website to sell their unwanted goods. My parents now average about $6,000 a month from commissions from selling other folks's junk on Ebay! That is not counting the little part-time job they have got tutoring computer literacy to folks. The resourcefulness of the baby-boomer generation in reality inspires me, they're creative enough to even live to inform the tale the recession and make some money whilsthaving fun doing it. Unfortunately, my parents don't seem to be the norm. there are countless numbers of senior citizens well into their 70's and 80's who shouldn't have the health or energy to partake in any kind of entrepreneurial endeavor and so they also have suffered a bottoming-out effect of their life savings; money which paid for their senior-assisted-living arrangements and prescription medicines. Lucky for my parents, they've many sons to look at over them and their finances.
Author Resource:
Internet Mogul Polo Mwonyonyi has created the only how-to articles directory about Residual Income , visit the site to watch instructional videos and educational articles to make money at home.
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