What Does The Future Hold For Generation X?
Digital Marketer & Home Business Consultant
If you were born between 1965 and 1984 then it is generally recognised that you fall into the Generation X generation of poeple.
Generation X is the generation after the Baby Boomers and before Generation Y (Millenials). So we are in a very special group of people. Yes I am a Generation X member and what I would like to talk about today is the concerns of what the future may hold for us.
For myself my main concern is whether I will have enough money to enjoy an early retirement and indeed my twilight years.
I have not really done the text book conventional way of life. Meaning when I was in school, and having the influence from my parents, we were told to get educated and carve out a career so that when we were older everthing would fall into place and we would enjoy our retirement with a healthy pension coming in.
At first I subscribed to this and for the first 5 years of my working life I had a proper job as many people called it. I turned up and did my 37.5 hours a week, payed my taxes and national insurance (as we call it in the UK) which goes towards our national health care and also towards our state pension plan.
I started to pay a private pension because I was told that was what I needed to do. Now don’t get me wrong there is a lot to be said for doing it that way but it was not for me.
After 5 years I got out of the corporate world and went it alone. Do I regret that? Not for one minute but because of that decision I find myself in somewhat of a conundrum.
The reasons are, and they are self inflicted so I am not crying wolf, that in the UK you have an option of paying second class contributions for national insurance if you are self employed which will give you a pension but not all that much.
We had 3 sons in 6 years and money started to become a bit tight so I was unable to keep my private pension payments going. That has been frozen for around 20 years. I will get something but combined with the state pension it still will not be enough to live on.
So they are my circumstances and I know that I need to do something about it. You may be able to relate to this but there other factors to touch on of which may affect you.
Towards the late 1980’s and going into the 1990’s the UK went into recession again and there were some very uncomfortable stories of big corporate companies who had their own pension schemes who were having trouble.
So much so some of the pension funds collapsed and suddenly people were put into the mire. One of the biggest in the UK was the Maxwell Group who owned the Mirror Group newspapers. Maybe you are one of these people if you are a young Gen Xer.
So with the general cycle of boom-bust, recovery and recession, of which we have now experienced 2 in our working life so far, the Generation X may be looking to the future with let’s just say a sense of trepidation.
Will will be able to retire when we are mid 60’s or are we going to have to work well into our 70’s just to have enough money to live and by that time are we going to be able to enjoy ourselves.
My Apartment In Cyprus
Going back to myself. In 2007 I had a cunning plan of buying a property abroad which I would turn into my pension pot. Buying when prices were low, seeing a steady growth of value and bingo 25 years later sell up and play golf and lay on the beach.
The trouble is that 2008 happened. Property prices went down and property was not seen as a viable investment. So although I have not lost money, on paper my pension pot is not looking as healthy as I envisaged.
There is still along way to go. I am 46 so maybe in 20 years the dream will still be alive.
So as I have said I started to look at other options. My business is doing ok and I am certainly not destitute but I have realised that I have to pull my finger out and sort out the future.
So I did as many people have done and turned to Google for the answer. “How to earn more money“, “How to make money” were just 2 of the many terms I put into Google and I was excited to see that the answers and solutions were just a click away.
They were all promising the holy grail of “Make millions with the push of a button”, “Copy and paste to be a miliionaire” and “Work 1 hour a day and quit your job“. Total b### s###.
How do I know? Because I bought them all. Spent thousands which I may as well have put on a bonfire because literally the money went up in smoke! This process started in 2011 and lasted for about 2 years before I lost all hope.
Saying that I still thought there was something out there. What changed? I clicked by chance on a advert and because I was in the mindset of being sceptical because of all the false hope being delivered I just thought it would be the same old drivvle. What I watched instantly changed my perception.
There was this young guy giving it to me straight. No crap and no promising a magical formula. Just an alternative way of doing business and making a living if you were prepared to WORK.
I am not going to sit here and BIG IT UP! I am sure that you are intelligent enough to make your own mind up.
To do that you can CLICK HERE and watch the exact video I watched. Then process the information and make your own informed decision.
All I will say is if any of my circumstances or any of the issues I have raised relate to you then you never know it may be worth a look.
Us Generation X still have the time to change, alter or craft our futures but to do that we have to take action. I have. Will you?
As always I wish you well.
Pete Harris
Digital Marketer & Home Business Consultant
Six Figure Mentors Elite Member