Consider Supplemental Retirement Income to Save Your Retirement

By Don Seibert 

 

All of the recent talk on the news about an economic downturn has added more fuel to the discussion concerning retirement savings. With the cost of living continuing to grow, it is becoming increasingly difficult to get by on a fixed income.

Now a report came out just this morning from the American Association of Health Care administrators that say that 60% of those reaching age 65 this year can be expected to require long term care at some point in the remainder of their lives! When you couple that with the average annual private room nursing home cost of $77,745, the problem gets compounded.

Many people expect that, once they are 65 years old, Medicare will cover the cost of long term care. Such is simply not the case! Medicare covers only the cost of the medical care and prescription drugs, but not the cost of assisted living or nursing home care. This is why everybody should be considering a Long Term Care insurance policy, after they are in their 50's. The earlier that you contract for an LTC policy, the less expensive such a policy will be.

With all of these financial pressures on a person's retirement budget, you really have to be thinking about finding a good source of supplemental retirement income. It doesn't have to earn you a fortune, but wouldn't it be nice just to have an extra $1,000 to $2,000 per month to supplement your Social Security and pension income? Well, it is easier than you think to make that happen, if you have any business savvy at all.

Whether you write articles or electronic books, create art pieces or crafts, or just do some internet marketing, it should not take hardly any investment at all, to setup and supplemental income stream.

Internet marketing is very simple! Now, keep in mind that I did not say that it is easy; in fact, it will take a dedicated effort and considerable time for you to learn internet marketing skills and start the income checks coming.

You can start off very easily by signing up as an "Affiliate" of a person or company that has a product or products to sell. It would be good to select products in a market niche that you are particularly interested in. Then, you will need to do some market research to find the best terms or 'keywords' to use in marketing your affiliate product.

Once you have done that, you can easily setup an advertising campaign on Google (called "Adwords") to attract customers to buy the product. As they buy, you earn a healthy commission (usually 40% or more for electronically delivered books, mp3 audios and videos) for having done your marketing. The cost of doing such a marketing campaign is really very small, but you can earn a few hundred dollars per month from this activity. Once you have it set up, it will continue to earn you more income each month in the future. Then you can work in improving your ads and closure rates to better your first effort.

After you are familiar with affiliate marketing, you may wish to progress into developing your own product (a book, audio, or video) on the topic of your passion and market it directly. In such a setup, you get to keep the entire sale proceeds for yourself and this can be quite lucrative!

If you are at all concerned about your retirement finances, please consider developing some supplemental retirement income streams for yourself!

Resources: Don Seibert is a retired business executive who, as an Expert Author, writes timely articles on many issues concerning sources of retirement income . Having retired three times, he now is the host of http://www.RetireToEasyStreet.com - Visit the site for a complete discussion of Retirement Income Options Article Source: http://EzineArticles.com/?expert=Don_Seibert