Phil's Personal Finance Tip of the Day:
How to Create Your Own Money Roadmap
By Kimberly Palmer | U.S.News & World Report LP
Bart Astor's "aha" moment came as he was listening to author Gail Sheehy give a speech about caring for her ill husband several years ago. Sheehy told the story of a doctor asking, "What are your goals for this stage of life?" That question struck Astor as a profound one, and one that he didn't have an answer to himself.
"Most of us who are 50-plus don't have an answer," Astor says. "I don't think we've thought much about goals since we were asked, 'What do you want to be when you grow up?'" So Astor started asking other people in their 50s and up about their goals, and he started writing about how baby boomers can achieve them. His new book, "Roadmap for the Rest of Your Life," grew out of those discussions. Astor, a writer and eldercare expert, recently spoke with U.S. News and shared these six tips for boomers looking to take control of their lives:
Embrace the opportunities of the boomer generation. Boomers grew up during the economically vibrant post-war years, and many of them had unprecedented access to top-notch education, health care and career options. "Our parents created a new middle class that didn't exist before the 1950s," Astor says. "There are so many effects of being in a generation that was the largest and richest this country has ever seen," he adds.
[Read: 20 Hot Money Moves for Summer.]
Women and minorities also broke new ground. "We really did change the world. ... My wife growing up could be a nurse, teacher or just get married. [Those limits] don't exist anymore," Astor says. Boomers also have more of a chance to reinvent themselves and their careers over the course of their lifetimes, he says, and technology makes it easy to launch a small business or telecommute, for example.
To read the entire article from Kimberly Palmer | U.S.News & World Report LP:http://finance.yahoo.com/news/create-own-money-roadmap-143539819.html
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