According to a Canadian survey of baby boomers conducted for TD Waterhouse this season, 32% of those polled said they were counting on winning a lottery to fund their retirement. "While this statement may be tongue-in-cheek, in line with the survey results, this group is less likely to have a financial plan and more likely to be anxious about retirement and feel at the rear of in their savings, inches according to a TD Waterhouse statement. Whether the responses about winning fetta were serious or not, the data plainly suggested that a lack of retirement security is a source of distress for many who responded.

A separate election released early in last year by the Canadian Real Bank of Commerce (CIBC) indicated that you are more likely to be more successful in your financial planning if you have a goal in mind and a plan to make it happen. In a survey for Standard Life, 41% of those respondents were unsure if their rate of saving would provide enough for them at retirement.

Typically, financial advisors advocate "save more, save more, save more" as the answer to how to boost the amount designed for retirement and other needs. But for many, saving more is simply not an option, as they are not earning enough to get additional funds to save and invest. Others may be able to www.lottospielen24.org save more, but are not willing to do this because they do not want to live on a diminished quality of life while saving for a time that they may well not live to see.

Several baby boomers are realising that there is another retirement solution - create new sources of income that will provide them with monthly cash flow and a left over payment in the future. They are no more working for a paycheck; they are building a millionaire business for cash flow and financial security.

If you are thinking about creating a new source of income with a millionaire business, start with what you already know best, what I call your 3 "S" Aspects: your skills, your strengths, along with your successes. Create a product or service around these factors that other people want or need and have already demonstrated a readiness to buy. Then identify a little segment of that market to focus on, called a niche market.

You will have the best choice of success if you give your niche market what it wants to buy. Not sure what that is? Then ask the people who are in your niche market. Execute a simple survey, either online or offline. Right here are a couple of ways you can do it. First, if you are near a college, ask if your survey can be part of a market research class. Need faster results? Find out where the members of the market go and have to wait, and survey or interview them while they are waiting. For example, if you need to survey moms, ask them to fill out a short survey while holding out in line to grab the kids from school. The particular key is always to think like your prospective buyer, but you have to know how they think first.

Do you have a friend to know you so well that she can practically finish your sentences for you? That's how well you want to know your niche market. You want to know precisely what the members of that niche area are thinking so you can provide them just what they want.

You will want to customize your product or service for your niche market, so consider ways to modify the elements of the marketing mix: the characteristics of your product or service, your promotional strategy, how you will deliver the product or service to the customer, and the price you will charge. (Here's a touch: never compete only on price. Once you compete only on price, the marketplace views your product as a commodity, with no distinct market advantage, and you could easily get locked in a downward price spiral. )