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Buddies, boomers and readers,  I came across this article.  It is a nice article about boomers, the contemporary economy and the urgent need to make extra money for every body not just the boomers.  It is written by Mary Mason-Shields

Research being done today shows more and more baby boomers are becoming entrepreneurs. The answer for this group today is possibly owning a home base businesses. There is no need to run amok looking for one of the brick and mortar businesses to become an entrepreneur. Just put your expertise to work for you from the comfort of your own home.

A home base business chosen from the hobbies and/or interests of baby boomers would probably be more prosperous and much more lucrative for the retiring baby boomer. Baby boomers would be more susceptible to success doing what they know and what they feel comfortable doing.

Those reaching retirement age or already retired are faced with the dilemma of what to do to secure their future and the future of their family. They are wondering what will they do to maintain a modicum of decent living. They have waited so long for the day to arrive they could retire only to find the economy in such turmoil, they don't know what to do.

The future for baby boomers retiring really looks gloomy right now in the face of the 2008 economy. Is it possible for those baby boomers who own home based businesses to turn the economy around? Anything is possible.

There are some really detrimental situations facing baby boomers today and one of the issues is the retirement savings they have/had. If baby boomers had their retirement savings tied up in the stock market, they quite possibly could be without any retirement savings at all. What should they do now?

Just to think that you have worked all those years to have your savings wiped out and you had nothing to do with it. This would not be such a "hard pill to swallow" if other streams of income were in place. There is no doubt, the 2008 economy stresses are weighing heavy on those people who are contemplating retirement.

Not only baby boomers, everyone should be looking at additional streams of income to secure their future. This is not the time to rest on your laurels and be satisfied or reliant with one stream of income. Employment is not secure. Savings accounts are not secure. It is time NOW to start a home based business in preparation for the loss of that one stream of income.

There is much more information found at http://www.squidoo.com/futureforbabyboomers and http://www.squidoo.com/babyboomersandretirement2008

Article Source: http://EzineArticles.com/?expert=Mary_Mason-Shields
http://EzineArticles.com/?Baby-Boomers-Become-Entrepreneurs&id=1641608

You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why:
Recession is coming to town.

It's hitting you once,
It's hitting you t wi ce
It doesn't care if you've been careful and wi se
Recession is coming to town

It's worthless if you've got shares
It's worthless if you've got bonds
It's safe when you've got cash in hand
So keep cash for goodness sake, HEY
You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why:
Recession is coming to town!

Finance products are confusing
Finance products are so vague
The banks make you bear the cost of risk

So keep out for goodness sake, OH
You'd better watch out
You'd better not cry
You'd better keep cash
I'm telling you why:
Recession is coming to town.

Buddies, Boomers & Readers,

Are we out of recession?   Most people won't agree with what the government headed by Stephen Harper who said.  ' Canada is the first country in the G20 getting out of recession'.  People are currently undergoing the pain of recession in their daily life aggravated deeply by the unemployment or insufficient employment.   We  see Canadian citizens are suffering from the symptoms of recession.  Workplaces are empty or partially emply.  Restaurants are dead quiet.  We will go through this economic downturn until we have three consecutive quarterly national surplus in a row.  When will this happen?  No body knows.  The economic outlook is not a good one as painted by some business gurus like Bill Gate, Alan Greenspan and other corporate heads..  Some economists anticipate the double dip recession is around the global marketplace already,  

Boomer friends, the sure way to protect yourself and secure your future is to find a business that will provide you with financial security no matter what happens to the economy. There are some needs that would continue no matter what.   there are always markets available for these products such as household products.

A home-based business will give you the security to care for your family and guarantee that you have the financial future you need to retire when the time comes. 

Check out this Business Plan for your future security.

Recently in the news we have heard US President Barack Obama and Canada's Prime Minister Stephen Harper aired their optimistic views on the current economy. The economic melt down process reached its bottom. and there are already signs of positive recovery in the economy. I am totally agreeable on what they try to do but not their view of a speedy economic recovery. In their respective positions, they are doing what they are supposed to do. That is to boost the general consumers' confidence.

It is just wishful thinking that the economy reached its bottom. Let us look into the real estates in North America, Europe, Asia and the Far East. The market is beset not just by the credit crisis but also the lack of confidence brought about by the massive job cuts. The American auto giants GM, Ford and Chrysler are deep in their  money crunch and sales slump. If these giants were forced out of business, the rippling effects will be enhanced and felt all over the places in this global village.   In the news people can see huge price cut for Chrysler cars and trucks by the car dealers ... as much as 40%.    Carmakers  are cutting down their dealers by 1000s.    The automakers have no choice but to downsize their workforce and expenses to meet the bailout requirement of the government.

These days, job cuts have already triggered off into different industries and businesses.  People 's working wages are reduced by either cutting the rate or working hours.   Unfortunately, it may develop into  trend that most business owner follow suit.    Even big companies with profits join the wagon to cut jobs and work hours.   All these would dampen the consumers confidence contradicting the effort of  Barack Obama and Stephen Harper who try to revive the economic engine with their bailout packages.   Co-ordination amongst businesses and government is of paramount importance.   Hopefully, the governemnt will do more co-ordination to make the recovery plan working effectively and efficiently.

The recent financial melt down is the residual of years and years of greediness, complacency, mismanagement and lack of long term vision amongst  the top executives. The short sighted leaders lead their companies into this financial crisis.  The people working on the floor are the victims of the turmoil brought about by these  leaders blinded by their greediness and complacency.

The bear market is  here to stay with adjustments.  When people regain their confidence upon abundance supply of jobs, they will spend more money. Businesses of different sectors will then start booming again and speed up the economic engine.  Currently people are in the shadow of job cuts and wage reduction,  spend  money is low in their priority list.

Ask ourselves the questions:

* Will GM, Ford and Chrysler survive this Financial Crisis?
* What if they cannot?
* What will be the damage as the result?

I am not sure what will happen in the next 12 months? But I am very sure it is a time of great changes.

As the result of the financial crisis, both the stock market and the property market tumble. Banks tighten their outgoing loans further thus aggravating the economy with its credit crunch. Our 401K accounts shrink. People especially baby boomers become very much concerned how to support their retirement. People who are devastated most are those with their homes going back to the banks and their family have no habitat to dwell.

The collapse of the US financial markets are deepening into an economic crisis. It is going to affect every walk of life not just confining to the financial institutes and banks. These effect would spread globally and the whole world is going to be dragged down as the result of the US economic melt-down. This process have started already. The downturn momentum will not go away for some time. One year, two years, three years, nobody knows. More cases similar to Bernard Madoff's Ponzi scheme will be exposed thus further weakening people's confidence.

Recently, I repeatedly ask myself what is wrong with all these big names such as AIG, GM, Ford, Chrysler, CitiCorp, etc. I think my fellow boomers have the same question at the back of their mind. These companies and their CEOs, top executives, senior management are blamed for their lack of vision, alertness to potential danger and readiness to change.

They are the elite people of all these international corporations. There is no doubt about their knowledge and smartness. Their professionalism and ethics are questionable. Their focus are too much on the short term ones. Monetary benefits would blind people from seeing the true big picture ... the hidden melt-down of their corporations. The vision for a evergreen healthy company is gone. Are these people focusing on monies and related benefits for themselves only? . The pursuit of the quick dollar is contagious. It flowed from CEOs to their followers, then to the greedy people walking on the streets. People's greed blind their their judgment. The brain power is lost as their brain become obsessed with greed for quick money. Many people bought stocks, real estates simply because they saw so much money out there and they did not want to be left out. Greed is all over the places in this world.

What can we do next? If you are planning for retirement, it is time to rethink about postponing it to a later date. It is time to start seeking for something new and something meaningful. How about making your knowledge and experience to make money for you?