Surviving the Silver Tsunami

Silver Tsunami Survival

The Silver Tsunami is coming, there is no stopping it. The only thing that can be done is take proverbial shelter.

Planning for your own professional and financial survival during the tsunami depends on your keen powers of observation.  Your options will be heavily influenced by your generation. Are you a baby boomer business owner planning for near-term retirement?  Are you a member of Gen-X who will see opportunities open as the Boomers exit? What about vendors or other companies that you are contracted with? What do you see happening with them? If they go out of business, what is the effect on your day to day operations and bottom line? Now is time to gather information and consider your options.

Want to help build a storm shelter for others? There are a few things you can do as an outsider to help build that storm shelter for those who will be affected.

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Shifting Tides

Ever heard of the Silver Tsunami? No? Don’t worry, you aren’t alone. The Silver Tsunami has nothing to do with water or coastlines. It represents the largest transfer of wealth ever before seen in the United States. There are about 12.3 MILLION Baby Boomer business owners in the United States. 10,000 of them are retiring every day on average, and most will retire within the next 5-10 years. You may be thinking to yourself, “That’s fine, there is nothing to worry about. This happens all the time with people retiring.”. The removal of this many people from the workforce is bound to lead to some changes and force a restructuring of certain economic functions.

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