How Much Boomers [REALLY] Need to Ditch Their Day Jobs and Follow Their Dreams?

Table #1

Starting out this discussion with lifespan projections is already a bummer, but don’t worry. It gets worse.

Table #2

If you’re a Baby Boomer [51-68 yrs of age] making 300k/yr, a 60-year-old will need approximately 11.7 times that amount properly invested in order to realize the same income – and that’s assuming market conditions are stable. They’re not.

So let’s get real.

As I state in my book, “Urban Dystrophy,” on Amazon, a starter portfolio starts at around $5,000,000.

The reason I say this is because most guys I know like to do things like date beautiful women [or men], travel, dine out, and buy cool shit – all of which cost money. Lots of it.

None of this is a problem if your day job is bringing in 300k and your retirement money is – for the most part – rolled back into your portfolio.

But what if there is no day job and you’re living off of passive income alone [investments]?

Now the numbers have to change drastically, because in order to earn 300k on a 3.5 mil portfolio, you’ll have to be either an investment genius or selling crack on the side.

In my world [i.e., urban, educated, worldly, sophisticated – probably entitled], you’ll need approximately $7.5 mil to live a very nice – but not extravagant – lifestyle without having to worry about spending it all.

~~~

$7.5 million dollars is a lot of money.

Most guys making $600k/year for 25 years don’t have anywhere close to that amount invested.

Hell, most guys making a 1 million a year for 25 years don’t have that amount in savings.

How is this possible?

Easy.

On a 1 million dollar a year salary, you walk home with approximately $600k, or $50k/month, net-net.

If you own a $2 million dollar home, which is considered normal in these circles, you’re paying $50-$60k in annual property taxes alone on a 30-year house note of $1.5 million [after a 500k down payment], which lands you in the $10k/month range – excluding everything that goes into running a house, like utilities, repairs, and so on.

Add a second home somewhere in the mountains [a small place], a wife, two kids in private schools, and a couple of exotic vacations a year and you have about 150k left to invest, if you’re disciplined.

At the end of 25 years, you will have saved approximately $3,750,000 plus whatever your portfolio has generated over that time period, which most people place at about 8% /year [on good years].

Weird, huh?

And you thought everyone had at least $20 mil in the bank.

~~~

With $7.5 million well invested, you can comfortably take out 500k/yr, enough to live a great life without worries.

This doesn’t mean you can run out an buy yachts, travel in private jets, or buy a big place in Aspen.

But you can own a $2 mil home, put two cars in the driveway, shop at Whole Foods, and stay in 5-star hotel properties suites accompanied by reasonably well-equipped gold-diggers who might also love you for who you are, though most gold-diggers with the capacity to feel actual human emotions usually start in the $10 mil range.

Majority of Boomers are Positive About Their Generational Label

Many millennials don’t even want to be identified as such, with 60 per cent not considering themselves to be part of the ‘millennial generation.’ Instead, 33 per cent say they are part of Generation X~~~

Millennials attribute negative traits to their generation and the Silent Generation and Boomers see themselves in a positive right, describing their generation as patriotic, responsible, hard-working and moral.

Generational identity was strongest among the baby boomers, with 79 per cent of those within the applicable age group identifying with the ‘baby-boom’ generation.

Around 30 per cent of Generation Xers – those ages 35-50 – said their own generation was self-absorbed and wasteful, and 20 per cent of the baby boomers said the same about their age cohort.

Source:

http://www.dailymail.co.uk/sciencetech/article-3221560/Millennials-self-absorbed-wasteful.html

A few more facts about Baby Boomers:

The last of the baby boomers turned 50 in 2014 – there were 77 million people born between 1946 and 1964, which is defined as the baby boomer era (U.S. Census).
The 2010 Census shows the senior age group is, for the first time, the largest in terms of size and percent of the population in the U.S. Ove the next 30 years, the 65+ population will be larger than the younger generations.
The 50+ population has $2.4 trillion in annual income, which accounts for 42% of all after-tax income in the U.S. (Consumer Expenditure Survey).
Boomers and seniors have seen a decrease in their median family net worth, however they still have a net worth 3x that of younger generations (Economic Policy Institute).
Every year, the U.S. Consumer Expenditure Survey shows adults 55-64 outspend the average consumer in nearly every category, from food, household furnishing, entertainment, personal care, gifts, etc.
Baby boomers account for nearly $230 billion, or 55% of consumer packaged goods sales (Nielsen).
The NAHB predicts that the aging in place remodeling market to be $20-$25 billion. That’s about 10% of the $214 billion home improvement industry.
Boomers spend $157 billion on trips every year (NextAvenue).
Americans 50+ account for half of all consumer spending but are targeted by just 10% of marketing (AARP).
The Internet is the most important source of information for Boomers when they make major purchasing decisions (Zoomerang).
Boomers outspend younger adults online 2:1 on a per-capita basis (Forrester, 2009).

The Case for Dating Men in Their “60’s”

It’s not uncommon to see successful 58-62-year-old urban men dating and/or marrying women in their mid to late 30’s.

By standards that have evolved over the past decade, 37 and 60 are considered age-appropriate.

It’s a simple formula: 1/2 one’s age plus 7.

Of course, it could also be 1/2 one’s age minus 7, and still meet normal parameters.

In either case, the women are hardly 17 for God’s sake.

With this as a backdrop, I have posted a link to an Elle Magazine article I think you’ll find interesting.

I’ll follow it’s bullet points with comments of my own based upon real life urban experience.

http://www.elle.com/life-love/sex-relationships/advice/a9/dating-men-in-their-sixties/

“Old men are polite and thoughtful and young guys are generally self-centered.” Megan Megan O’Brien, founder of the marketing agency Beauty Brander, almost exclusively dates men in their sixties and older.

Her reasons?

1] I like a man’s man.

The synopsis: “To a man in his 60’s it’s the norm to treat a woman like a LADY.”

COMMENTS

Older men I know are far more appreciative of the young women in their lives because they know that authentic love is no longer a disposable asset.

2] They don’t play games.

The synopsis: “The bullshit factor dramatically declines as the years of their age rise.”

COMMENTS

Time becomes a far more valuable commodity when it becomes more scarce, forcing demand through the roof. Therefore, “sealing the deal” with a younger woman becomes a far more likely outcome.

3] They are more thoughtful.

The synopsis: “Leaving love notes in your purse for you to find later is another common trait of a more mature man…..just because.”

COMMENTS

To older men, younger women are kind of like time capsules that transport us back to a time when life was more spontaneous and carefree. Younger men have precisely the opposite effect on older women for obvious reasons.

4] They have their shit together.

COMMENTS

The synopsis: “He’s spending more time and attention on your relationship [than at the office].”

COMMENTS

He doesn’t have to spend as much time at the office [see#4]. Most men in this situation work from a laptop and a cellphone for a few hours and call it a day.

5] He will be proud to be with you.

The synopsis: “Most guys in their thirties think they’re doing YOU a favor by holding your hand and saying that you look beautiful.”

COMMENTS

When you’re young, youth and beauty are boundless resources, so you take them for granted.

But older men have already been laid more times than they can possibly count, so they focus on other aspects of the relationship.

This, of course, will then lead to even more sex – only this time with someone who’s name they remember.

~~~

Does “Low T” Cause Depression [or is aging a nightmare no matter how you look at it?]

Testosterone is the male sex hormone responsible for the development of many ‘masculine’ traits.

It encourages fat loss and muscle development, as well as sex drive, aggression, and energy levels.

In other words, the more testosterone, the more “Alpha.”

“Low T” has the opposite effect: Use your imagination. It’s bad.

Numerous health problems, including depression are heavily linked.

~~~

However, the relationship between depression and testosterone is very confusing because they are very similar.

If your “T” levels are low you’ll will suffer low energy, zero sex drive, crappy mood, endless irritability and difficulty sleeping – all of which characterize depression.

Some guys I know attack the problem with hormone replacement therapy.

In fact, most do…with varying degrees of success.

It cheaper than psychotherapy, and with faster results.

Nonetheless, “Low T” is not always the cause of depression, though it might be responsible.

For men who aren’t depressed and have lots of time and money on their hands, increasing testosterone might be an effective way to boost mood to even higher levels, improving drive, libido and motivation.

There’s always a higher high, after all.

But like other indulgences, it can become a one way street.

In other words, once you start, there’s no going back because eventually, the body stops producing it, not that you give a crap.

Most older men don’t care about anything but now, because there isn’t anything else.

Oh God, am I depressed?

~~~

CLEARING UP THE CONFUSION

If you’re depressed but don’t know why, you might start by asking yourself why someone with so much feels like he has so little?

This is a therapy question, by the way.

On the other hand, if you also have difficulty gaining muscle, losing fat, keeping your blood pressure in check, or losing your ‘morning glory,’ “Low T” may be the culprit.

Three other factors may play a role in depression:

1] Vegetarian diets low in protein.

2] Dark offices low in sunlight.

3] Physical inactivity.

~~~

Okay, so let’s say you aren’t a fan of hormone replacement therapy, and want a natural way to achieve similar results.

Exercise – Compound movements, like squats and bench press, and HIIT (high intensity interval training).

Sleep – This is where your testosterone is produced and why rest and recovery are so important. Make sleep a priority in your life. Keep your room dark and cool, and avoid caffeine before bed.

Vitamin D – Vitamin D is responsible for helping your body to regulate numerous other hormonal processes. The easiest way to get it is sunlight. If there is no sunlight where you live – or you’re stuck in an office for 12 hours a day – supplement. It’s no surprise that all those existentialists came from countries bereft of sunlight.

Magnesium and Zinc – Magnesium and zinc support healthy testosterone production and prevent testosterone from being converted into zinc. You can Google it.

Saturated Fat – As shocking as this may sound, the most important ingredient in terms of your diet is saturated fat. It’s no longer believed to cause heart problems, but it will increase your levels of good ‘HDL’ cholesterol, which also happens to be what your body uses to make testosterone and other sex hormones. Try a glass or two of full fat milk if your stomach can handle it. It might improve your mood.

Protein – Protein is the building block of muscle. Now you know why vegetarians look like crap. Protein produces anabolic hormones [like testosterone] that encourage muscle growth, among other benefits.

ONE VARIANT

Avoid Plastic – Random, perhaps, research on ‘xenoestrogens’ isn’t pretty. These are substances act like estrogen in the body and significantly lower testosterone.

Along with our more sedentary and indoor lifestyles, this is thought to be one of the big reasons that men today have lower testosterone on average.

To avoid xenoestrogens, don’t eat out of plastic containers, and definitely don’t microwave anything in plastic.

ON A FINAL NOTE

The Stones famously lamented “it’s a drag getting old,” and it’s no surprise that Baby Boomer do struggle with aging more than the generation preceding it.

Boomers — those born between 1946 and 1964 — are the generation most likely to report being in treatment for depression, at 14 percent, according to the Gallup-Healthways Well-Being Index. That compares to 11 percent among Generation X (born 1965-1979), “traditionalists” born before 1945, and Millennials (born 1980-1996).

This makes complete sense to me because Traditionalists lived their lives in throes of World Wars and Millennials aren’t old enough to feel their age.

Note: Baby Boomers are more likely to have been diagnosed with depression (21 percent) than any other generation (Gen X: 18 percent, Millennials: 16 percent, traditionalists: 15 percent).

This aside, Boomers are also more open to discussing their mental health issues than older Americans who refused to admit to having any psychiatric problems at all – a key reason Boomers need therapy in the first place.

Madonna and Her Battle for Relevance in the Middle Years

http://www.billboard.com/articles/news/6487469/madonna-compares-ageism-against-her-to-racism-and-homophobia

Madonna Louise Ciccone [aka Madonna] was born in Bay City, Michigan on August 16, 1958, which makes her 56 years of age. Her career started in 1979 and since that time she has amassed a fortune exceeding $800 million dollars doing exactly what she wanted to do with her life, which is pretty much everything a human being could possibly hope to do in one lifetime, or 100 for that matter.

The tailwind from her career would be enough to propel most clinical narcissists into old age without the help of a therapist, but not Madonna. No. She demands the world see her the way that it did 30 years ago, in spite if the fact that it is 30 years later.

In light of this, it’s no surprise that she levels charges of “ageism” as if that’s going to somehow guilt-trip her fans into some sort of collective hallucination.

The poor woman just fell off the stage during a comeback performance, for god’s sake. That’s about as bad as it gets for a cultural icon that uses fame the way human beings use blood.

Youth is gone, Louise. I’m sorry. I feel it, too. So does everyone else our age. But we don’t do ourselves any favors trying to be something we’re not. If you want to believe the applause you receive from aging women and drag queens constitutes transcendence, I’m sorry.

I remember seeing Madonna at NYC nightclubs back in the late 70’s. She was unknown, striking, wildly creative, and always blitzing for attention. She leveraged the currency of youth to achieve her objectives when she had it in spades. Some people are fortunate that way. Personal conviction is something most of us have to earn over time.

Nonetheless, after many decades of Madonna being Madonna, her relevance is vanishing. And while in all likelihood she can still fill arenas, the reason has everything to do with nostalgia and nothing whatsoever to do with another successful reinvention.

If she wants to act, let her act. Meryl Streep still does it. If she wants to make a nightclub appearance here and there, maybe belt out an old jazz standard, go for it. Woody Allen has a regular gig at Café Carlyle in New York. It’s all good.

With these thoughts in mind, I regret to say that I can no longer rock my crimson Spandex in the gym, in spite of the fact that I haven’t aged a day since 1979.

November 2024
S	M	T	W	T	F	S
« Feb
					1	2
3	4	5	6	7	8	9
10	11	12	13	14	15	16
17	18	19	20	21	22	23
24	25	26	27	28	29	30