By: Dave Carpenter, AP Personal Finance Writer, On Monday December 27, 2010, 6:12 pm EST

CHICAGO (AP) — Through a combination of procrastination and bad timing, many baby boomers are facing a personal finance disaster just as they’re hoping to retire. Starting in January, more than 10,000 baby boomers a day will turn 65, a pattern that will continue for the next 19 years.

The boomers, who in their youth revolutionized everything from music to race relations, are set to redefine retirement. But a generation that made its mark in the tumultuous 1960s now faces a crisis as it hits its own mid-60s.

“The situation is extremely serious because baby boomers have not saved very effectively for retirement and are still retiring too early,” says Olivia Mitchell, director of the Boettner Center for Pensions and Retirement Research at the University of Pennsylvania.

There are several reasons to be concerned:

– The traditional pension plan is disappearing. In 1980, some 39 percent of private-sector workers had a pension that guaranteed a steady payout during retirement. Today that number stands closer to 15 percent, according to the Employee Benefit Research Institute in Washington, D.C.

– Reliance on stocks in retirement plans is greater than ever; 42 percent of those workers now have 401(k)s. But the past decade has been a lost one for stocks, with the Standard & Poor’s 500 index posting total returns of just 4 percent since the beginning of 2000.

– Many retirees banked on their homes as their retirement fund. But the crash in housing prices has slashed almost a third of a typical home’s value. Now 22 percent of homeowners, or nearly 11 million people, owe more on their mortgage than their home is worth. Many are boomers.

Michael Vanatta, 61, of Vero Beach, Fla., is paying the price for being a boomer who enjoyed life without saving for the future. He put a daughter through college, but he also spent plenty of money on indulgences like dining out and the latest electronic gadgets.

Vanatta was laid off last January from his $100,000-a-year job as a sales executive for a turf company. And with savings of just $5,000, he’s on a budget for the first time. In April, he will start taking Social Security at age 62.

“If I’d been smarter and planned and had the bucks, I’d wait until 70,” says Vanatta, who is divorced and rents an apartment. “It’s my fault. For years I was making plenty of money and spending plenty of money.”

Vanatta is in the majority. Some 51 percent of early boomer households, headed by those ages 55 to 64, face a retirement with lower living standards, according to a 2009 study by the Center for Retirement Research at Boston College.

Too many boomers have ignored or underestimated the worsening outlook for their finances, says Jean Setzfand, director of financial security for AARP, the group that represents Americans over age 50. By far the greatest shortcoming has been a failure to save. The personal savings rate — the amount of disposable income unspent — averaged close to 10 percent in the 1970s and `80s. By late 2007, the rate had sunk to negative 1 percent.

The recession has helped improve the savings rate — it’s now back above 5 percent. Yet typical boomers are still woefully short on retirement savings. Even those in their 50s and 60s with a 401(k) for at least six years had an average balance of less than $150,000 at the end of 2009, according to the EBRI.

Signs of coming trouble are visible on several other fronts, too:

– Mortgage Debt. Nearly two in three people age 55 to 64 had a mortgage in 2007, with a median debt of $85,000.

– Social Security. Nearly 3 out of 4 people file to claim Social Security benefits as soon as they’re eligible at age 62. That locks them in at a much lower amount than they would get if they waited.

The monthly checks are about 25 percent less if you retire at 62 instead of full retirement age, which is 66 for those born from 1943 to 1954. If you wait until 70, your check can be 75 to 80 percent more than at 62. So, a boomer who claimed a $1,200 monthly benefit in 2008 at age 62 could have received about $2,000 by holding off until 70.

– Medical Costs. Health care expenses are soaring, and the availability of retiree benefits is declining.

“People cannot fathom how much money will be needed to simply cover out-of-pocket medical care costs,” says Mitchell of the University of Pennsylvania.

A 55-year-old man with typical drug expenses needs to have about $187,000 just to cover future medical costs. That’s if he wants to be 90 percent certain to have enough money to supplement Medicare coverage in retirement, the EBRI said. Because of greater longevity, a 65-year-old woman would need even more to cover her health insurance premiums and out-of-pocket health expenses: an estimated $213,000.

– Employment. Boomers both need and want to work longer than previous generations. But unemployment is near 10 percent, and many have lost their jobs.

The average unemployment period for those 55 and older was 45 weeks in November. That’s 12 weeks longer than for younger job-seekers. It’s also more than double the 20-week period this group faced at the beginning of the recession in December 2007.

If financial neglect turns out to be many boomers’ undoing, challenging circumstances are stymieing others.

Linda Reaves of Silver Spring, Md., never had much opportunity to save as a single mother raising two sons and a daughter. After holding a variety of positions over the years — hotel office manager, research analyst for a mortgage company, hospital mental health counselor — she was still living paycheck to paycheck. Then she was laid off in 2007 at the age of 57.

She entered a training program to learn new skills, but all she has found since is a string of temporary jobs. In her daily quest for clerical or administrative work, she competes against much younger applicants.

Reaves, who turns 60 this month, plans to work until she’s at least 70 and then wants to travel, even if she doesn’t know where the money will come from.

“I just keep going. I don’t really worry about it,” she says.

Add this all up, and there’s a “slow-burning” retirement crisis for boomers, says Anthony Webb, a research economist at the Center for Retirement Research.

“If you have a crisis where the adverse consequences are immediately clear, then people understand that they have to do something,” Webb says. “When the consequences will be felt 20 or 30 years in the future, the temptation is that we kick the can down the road.”

As a result, he believes many won’t change their behavior.

For less affluent boomers, it won’t take that long to feel the pain of poor planning. Concerns about financial trouble will hang over many of those 65th birthday celebrations in 2011.

Many seem to view their plight through rose-colored granny glasses. An AARP survey last month of boomers turning 65 next year found that they worry no more about money than they did at age 60 — before the recession or the collapse of home prices. But in an acknowledgement of reality, 40 percent said they plan to work “until I drop.”

Post Your DrinkACT Product Story Below!

Be sure to take a moment and read all the great stories already posted!!

Have Fun…DrinkACT!

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Have Fun…..Drink ACT!
Paul Kroto
Diamond Director
716-445-2408

_____________________________________________________________________________________

As we all know, it is CRITICAL that we are all on a 40 BV or higher autoship every month. 

One of the top questions I get asked is “What should I be on autoship for?” 

My initial answer is to try ALL the DrinkACT products, find out which ones you and your family like the best, and then go on autoship for those products. 

All that matters is that your monthly autoship is 40 BV or more.

However, here are the top 10 autoship orders people are on:

1. 2 boxes of original ACT packets (60 packets) = $60 and 50 BV (you can mix these packets in either hot or cold water for an instant healthy energy drink that only cost $1 each!  How can you beat that??)

2. 2 boxes of Body Trim Packets (60 packets) = $70 and 56 BV (I lost 46 lbs just by drinking 2 Body Trim per day!)

3. 48 ACT cans = $93.95 and 40 BV (shipping is included in this price and the company just recently improved the already GREAT taste of these cans.  There is simply NOTHING as good as our Healthy Energy Drink Cans!)

4. 2 Bottles of Invigorita = $71 and 60 BV (this is enough for you and your spouse to take 1 oz everyday!  Invigorita is The World’s Greatest Multi-Vitamin/Multi-Mineral with our world famous healthy energy drink mixed in!)

5. 1 bottle of Osteo FX = $42 and 40 BV (This calcium supplement is found under the youngevity tab in your DrinkACT Back Office.  EVERY SINGLE WOMAN IN THE WORLD should be taking an extra 1,200 mg of Calcium per day and this is the #1 liquid calcium supplement on the market today with an unbelievably delicious coconut flavor to it!)

6. 1 bottle of Cocogevity = $41.50 and 40 BV (This product is simply OUT OF THIS WORLD GOOD and good for you!  Cocogevity is the ULTIMATE antioxidant wellness product with an ORAC score of 101,373.  NO, this is NOT a misprint!  Cocogevity has tripled the ORAC score of any wellness product on the market!  Oh, and by the way, it is chocolate flavor.  Having 1 oz of Cocogevity per day is like drinking a Hershey Candy Bar!!)

7. 24 ACT Shots or 24 Body Trim Shots = $60 and 40 BV (if you want our awesome ACT Energy Drink or Body Trim in a convenient  2 oz shot so you can take it where ever you go then this is the autoship for YOU!)

8. 1 Bottle of Power Up and 1 Bottle of Power Down = $69 and 56 BV (if you are looking to lose weight these are the 2 products that you NEED to be on.  Power Up is the strongest weight loss product on the market bar none and Power Down is the #1 Detoxifier and Cleanser on the market.  When taken together they work synergistically to help you lose weight FAST!

9. 1 Bottle of Invigorita and 1 Bottle of Power Down = $65 and 54 BV (Invigorita is a MUST for every man, woman, and child to take 1 oz per day to stay healthy.  Power Down is the #1 Detoxifier and Cleanser on the market.  If you want to stay healthy, these 2 products are an absolute MUST and they make the perfect autoship together!)

10. 30 Sip of Sunshine Packets = $65 and 50 BV (I saved the best autoship for last!  Sip of Sunshine is a LIFE CHANGING product that you NEED to learn more about at http://moreACTinfo.com/products.htm – EVERYONE should be on autoship for this CRITICALLY IMPORTANT product.)

Choose which products are best for you and your family to be on and get your autoship order in place TODAY!  Be on autoship and share these incredible products with others so you can create a lifelong residual income for you and your family to live on!

You can become a MILLIONAIRE off of any one of the 10 autoship ideas that I went over above!  Just get in the habit of talking about these wonderful autoship ideas to EVERYONE you come in contact with because EVERYONE NEEDS THESE PRODUCTS JUST AS BAD AS YOU DO!

My autoship is over $300 per month because I LOVE, LOVE, LOVE ALL of the DrinkACT Products as they have made a HUGE difference in the way I look and feel!

Remember that any personal autoship order over 40 BV gets placed on your weak side so you actually get paid on your own order!!  All the more reason to get you and your family on as many of these wonderful DrinkACT products every month as possible!

I watched this video 12 years ago and it changed my life forever.  After watching this video I went into work the next day and quit my job and I HAVE NEVER HAD A JOB SINCE!  This is by far the most powerful video I have EVER seen.  It is DEFINITELY worth your time to watch this video right now.  After doing so, if you would like more information, please go to http://moreACTinfo.com

If you want enthusiasm back into your life then send this link http://PaulKrotoBlog.com/archives/1803 out enough times to find 5 motivated people.  Teach them how you did that and when they fire their boss you will be surrounded by the most enthusiastic people in all the world because you had something to do with them getting their freedom back.  Your life will then be shear ecstasy because real happiness can only come from helping other people do great things.  Please let the person who sent you to this blog know if you are an A, B, or C after you watch the video below.

http://GetInTheGameToday.com
Paul Kroto
716-445-2408
PaulKroto@PaulKroto.com

http://GetInTheGameToday.com
Paul Kroto
716-445-2408
PaulKroto@PaulKroto.com

It’s GAME ON!

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You CAN Do This!  I Will Show You How!!
Paul Kroto
DrinkA.C.T. Diamond Director
716-445-2408

 Are You Interested In Making Some Extra Money?  If you are, then you MUST watch this short video below (this is the brand new video on http://moreACTinfo.com)

Focus is so important when it comes to building your DrinkACT business.  People often ask me “Paul, what should I focus on when it comes to building my DrinkACT Business?”

The simple answer to that question is to focus on saying these 8 words to everyone you come in contact with:

ARE YOU INTERESTED IN MAKING SOME EXTRA MONEY?

You are only looking for 2 GOOD People

If you ask enough people “Are you interested in making some extra money?” sooner or later you will run into someone who says YES!  (actually I would surprised if everyone does not say yes!)

If someone does say “NO”, who cares??  Let them keep being Dumb, Sick, and Broke the rest of their life.

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Finding 2 people who want to make an extra $2,000/wk is NOT very hard at all :)

If you help 2 people make $2,000/wk you will be making $4,000/wk!

So go out and find 2 people to help today by emailing and asking everyone you know and everyone you run into, “Are you interested in making some extra money?”

You CAN Do This!  I Will Show You How!!
Paul Kroto
DrinkACT Diamond Director
716-445-2408

PS. Click here to join my email list

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Commitment is when you have indulged yourself into the sisterhood or the brother-hood of the unashamed.

When you possess an innermost spirit and desire;
When your die has been cast;
When your decision has been made;
When you’ve chosen to step over the line; stand up and be counted and become a disciple of the determined.

When you won’t look back, let up, slow down,
back away or be still.
When your past has been redeemed;
When your presence makes sense;
When your future’s secure;

When you’re finished and done with low living,
light walking,
small planning,
smooth knees,
dull dreams,
pained visions,
mundane talking,
cheap giving and dwarf goals.

When you live by faith;
When you lean on your strengths;
When you walk with confidence;
When you’re lifted by prayer and
you’re labored by love,
When your direction is set,
your gait is fast,
your goal is real,
your road is rough,
your way is narrow,
your companions are few,
but your guide is reliable and your mission is clear.

When you cannot be
bought, compromised,
deterred, lured away,
turned back, deluded or
delayed;

When you will not flinch in the face of sacrifice, pause
in the presence of procrastination;
When you refuse to negotiate at the table of fear,
ponder at the pool of popularity, or meander in the
maze of mediocrity.

When you won’t give up,
let up or shut up
until you’ve saved up,
stored up, prayed up,
paid up and become the person
that you were meant to be.

What you THINK about you bring about!

When you are COMMITTED, that’s
When you stand out from mediocrity;
When your desire dominates your doubts;
When your purpose in life is greater than your problems,
that’s When you’ll be bountifully blessed!!

COMMIT to MORE than MEDIOCRITY TODAY!

There are NO Accidents In Life. You found DrinkA.C.T. for a reason and that reason is because you were put on this earth to help others.

Focus ALL your energy on helping 2 people become financially free and in return you will become finacially free at the sametime – just as God intended it to work!

Please Contact The Person That Sent You To This Blog and Get Your FREE DrinkACT Membership, Your FREE DrinkACT Personalized Website, Some FREE Samples, and Find Out How To Get The IRS To Help You Run Your DrinkACT Business For FREE!