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Eye Opening Revelations: What I Learned at the AARP National Convention

October 8, 2010 on 8:57 am | In Uncategorized | No Comments

I just got back from the AARP National Convention in Orlando, Florida, and it was fascinating to hear all the different points of view about the situation facing most Baby Boomers in our country.

Kathleen Sibelius—Head of the Department of Health and Human Services in Washington, talking about how health care reform will affect seniors

Newt Gingrich—Talking about Health Care reimbursement Fraud that’s costing the tax payers tens of billions

James Carville & Mary Matalin—Talking about the upcoming election races

Whoopi Goldberg—Interviewing Larry King and talking about how he at age 76 still conceives children without viagra

Rob Reiner—who has a new film out that’s supposed to be terrific

Even Crosby Stills & Nash were there. I’m a big fan but I didn’t see them on this trip, I imagine they played their song “helpless helpless helpless helpless.”

It all reminds me of the man who fell off the top of the Empire State Building. He’s falling and falling, and by the time he gets to the 50^th floor, people are hearing about it and poking their heads out the window. Someone asks him, “How are you doing? Are you ok?” and he calls back, “So far, so good!”

Well we know how that’s going to most likely turn out. And the longevity we’re seeing today, and the future entitlements costs in this country, with 78 million Baby Boomers, the first ones turn 65 on January 1, 2011 (1/1/11).

I went to the AARP Convention to get a bird’s eye view of the state of over-50 America and I’ll tell you, I was fascinated to meet and talk to some the 20,000 people who were there, I’d say 80% or more were over 65, many in their 70’s. some in their 80’s and one lady I heard had just turned 90, lovely people and one thing I can tell you if you’re a Baby Boomer—one of these days that’s going to be you and me! And we’ve got to get ready for it now. The average Boomers will live more than half their adult life after 50.

More and more people are talking about what they’re calling the Third Chapter—the 25 years between age 50 and age 75—as a new stage of mid-life with a whole new set of possibilities, which is great. New purpose, new adventured, new passion. But it’s a lot tougher if you’re doing it without any money, or without enough money.

A lot of these older people I met there were teachers or worked for the Federal government. They’ve got great pensions so there were a few things I came away with from there that I believe stronger than ever:

1) There is no one number. You’ve got to work on your future, financial and lifestyle situations from both ends at the same time, money in, money out, over time

2) There is no one investment—its all about different buckets

3) Taxes and powerful strategies to minimize them are going to be more important to almost everyone than pure investment returns by themselves. Taxes are obviously going to be going up, all kinds of taxes

4) Every successful professional golfer, every successful pro tennis player, has a coach. They don’t try to do it all by themselves. Everyone must have some kind of coach, an unbiased, up to date coach or source of coaching. You’d have to be crazy not to.

But it’s hard to find that kind of coach today and that’s why I created the Boomers Retirement Network and the 10 Minute Retirement Quiz. It’s all about making what comes next work for you.

I’m going to tell you where to take the free 10-Minute Retirement Quiz that’s easy and confidential with no wrong answers. People tell me that it helps them get tremendous clarity about their priorities and then it gives you a lot of free resources and puts you on a good track to move forward. Again, it’s free and your privacy is protected.

Go to www.BoomersRetirementNetwork.com today—Take the Quiz. Thousands of people have already taken it and I highly recommend it.