July 02, 2012
Retirement Risk Index Increases
One of the unique characteristics of direct selling is that it has no boundaries when it comes to age. Whether you are a teenager or octogenarian, you have the same opportunities as everyone else to build a successful business.
And that’s good news for Baby Boomers entering their retirement years.
A recent study by the Center for Retirement Research at Boston College found that more than half of retirees will not be able to fully support themselves in their golden years.
Alicia Munnell, Director for the Center, attributes the increase in the National Risk Retirement Index—the number designated to maintain a standard of living upon retirement—to three factors: people are living longer, Social Security benefits will diminish, and interest rates will not allow those with nest eggs to produce significant income.
The answer to this crisis, says Munnell, is not for people to save more but to work longer, on average five years past their intended retirement age.
Direct selling may be the answer for these Baby Boomers. According the 2010 DSA statistics, nearly 50 percent of U.S. direct sellers were over the age of 47, with 15 percent age 65 or more. In 2011, more men entered direct selling, accounting for 22 percent of direct sellers.
What we appreciate about direct selling are the vast opportunities available to young and old alike to earn additional income to supplement their lifestyles, and in this case, their golden years.
To view the video from the Center for Retirement Research, click here.