Tuesday, April 7, 2009

A Full and Prosperous Life for Baby Boomers in 2009

I have a special treat for you today!

Lloyd Watts
, author of The Flow of Time and Money: How to Create a Full and Prosperous Life, is here with us to talk about how baby boomers can still lead a full and prosperous life in 2009! If you would like your questions answered on how you, too, can live a full and prosperous life in 2009, leave your comments below!

A Full and Prosperous Life for Baby Boomers in 2009
by Lloyd Watts, author of The Flow of Time and Money: How to Create a Full and Prosperous Life

When I wrote The Flow of Time and Money: How to create a full and prosperous life, I intended it to tackle the biggest problems that I saw in the people around me – that they were struggling with money, and chronically unfulfilled. I wanted the book to cover the timeless principles of how to become wealthy and fulfilled, independent of present economic conditions, and regardless of the reader’s age or stage of life. The Flow of Time and Money uses simple diagrams to explain the key ideas of how money and time work, and describes simply and clearly the four stages on the path to financial independence: Youth/Education, Capital Accumulation, Small Deals, and Big Deals.

Since Baby Boomers were born between 1944 and 1964, and it is 2009 now, that means Baby Boomers are currently between ages 45 and 65. So, Baby Boomers range at the oldest to those just embarking on retirement age (65) and at the youngest to those in the peak of their productive careers (45). Since I was born in October 1961, I am a Baby Boomer currently aged 47. The world in 2009 has been rocked by the global economic meltdown that began in September, 2008, and has triggered a major global recession. Many Baby Boomers have seen their retirement funds, 401(k)’s, and IRAs drop in value by 40% or more, and many Baby Boomers have been affected by corporate layoffs in late 2008 and early 2009.

The key messages in The Flow of Time and Money are:
1. Understand how Time and Money really work.
2. Live within your means and invest your time and money into Life Assets and Material Assets that grow and create real value.
3. Use these principles to create wealth and fulfillment for yourself and your family, so that you can improve your own quality of life, and make a positive difference in the lives of others.

For many Boomers prior to September 2008, the teachings of The Flow of Time and Money may have seemed like things they thought they already knew. In the dot-com boom of the 1990’s and the real-estate boom of the 2000’s, the prudent and time-tested principles of The Flow of Time and Money may have seemed quaint and overly conservative. In fact, these principles are the way to thrive and grow safely in good times, and to survive and even prosper in downturns.

There are two forces acting on Baby Boomers in 2009 that will cause them to have to act as though their financial lives have just begun.

The first force was the sudden impact of the global recession in mid-2008. The average Boomer in 2009 is 55 years old. A year ago, this mythical average Boomer may have been satisfied that his or her retirement saving was on track, and with the booming stock and real estate markets up to mid-2008, it looked like the markets would provide nicely for retirement. In 2009, that has all changed. Retirement accounts are down dramatically, and many Boomers have lost their jobs. There is real change here, and the effect on many Boomers is to set them back in their financial lives, perhaps 20 years.

The second force is the effect of medical technologies allowing us to live longer, on average. I will quote the endorsement from my friend Ray Kurzweil: “With ever-longer lifespans becoming a reality, The Flow of Time and Money is a must-read for achieving financial security.” If we are going to live longer in retirement, we are going to need more money to do it, or we are going to have to retire later, or find other ways to keep an income while we are retired.

Both of these forces point in the same direction: More than ever, Boomers need to understand how time and money work. Boomers need to live within their means and invest in assets that grow and create real value. If they do so, they will create wealth and fulfillment for themselves and their families, and will make a positive difference to the world – at least by looking after themselves, and perhaps by actually contributing to others. These are precisely the messages and principles of The Flow of Time and Money.

Many Boomers may have thought they were heading into the end-game of their financial lives with a winning hand, and now are finding that the game is going into overtime and their hand is not nearly as strong as they thought. I believe that the answer is to become proactive, re-assess their financial position and education, and to devote some attention to strengthening their financial position and future. I sincerely hope that The Flow of Time and Money may help in that process.

* * *
Lloyd Watts is the founder of Audience, a technology company that makes noise reduction chips for cell-phones, and the author of The Flow of Time and Money: How to create a full and prosperous life, which can be purchased at Amazon.com and at www.flowoftimeandmoney.com . Bookstores will be announced soon on the website.


  1. Baby Boomers are looking forward to Live and Invest Abroad.

    The number of Americans and Canadians living abroad, approximatley 7 Million according to The Washington Post, which is twice the population of Chicago and greater than that of 33 U.S. States, has steadily grown over the past decade and it is expected to more than double within the next 10 years.

    There is also a strong upward trend in the number of Americans traveling abroad for health care. According to The Medical Tourism Association demand among U.S. residents for medical treatment (including elective surgery) in other countries will quadruple from 1.5 million patients in 2008 to 6 million in 2010 as consumers, health insurers and employers seek medical care that is not available in the U.S. or not as affordable

    www.BoomersAbroad.com was born in direct response to hundreds of conversations with baby boomers from the USA and Canada who were seeking to better understand how they could live, move, relocate, retire and/or invest abroad, specifically in Mexico, Latin America and in the Caribbean. At BoomersAbroad.com members can make friends, ask questions, join Groups of interest, share experiences, etc.

    At www.BoomersAbroad.com You can ask your questions to EXPERTS, create your PROFILE, join GROUPS of your particular interests, Create your own GROUPS, make friends, upoad photos, have your own BLOG.

    Come and share your experiences with Baby Boomers. It is free. We believe that this is a unique opportunity for us all. It is impossible for any website to have all the content needed for all the questions that Baby Boomers have when they look forward to move, retire, invest abroad. Here every body learns from every body. We understand the proven power of collaboration.

    Leading industry experts and many of those that have journeyed ahead will share their personal experience and knowledge in a great variety of areas like: Top destinations, community highlights, attractions, real estate, mortgages, using IRA, finance and lending, health care and insurance, taxation, immigration, legal issues, title insurance, relocation process, lifestyle, things to do, etc.

    Share with us locally focused articles that include: "Best" guides to restaurants, services, venues, stores and more. Insider tips and local "secrets". "Did you know?" info that locals may take for granted, but is helpful to visitors and newcomers. Holiday guides to the best local shops, gifts and charities. Timely events and happenings of all kinds, from sports to music. Profiles of local people and places.

    Come to www.boomersabroad.com and Join
    Boomers Abroad Online Community and Social Network.


    All of us want to hear from You.

    Boomers Abroad Team

  2. I'm hoping the economy gets better, since I'm hoping to retire withing a few years.

    Morgan Mandel

  3. Thanks for stopping by, Morgan! I know what you're saying.

  4. Today it is agood thing to have a roof and food..and be patient...Keep within your means, cut back and enjoy some of the simple and free things in life. Spending is good for the economy but maybe not your own.


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