Is usually Lotto Really A Feasible Retirement Solution?

According to a Canadian survey of seniors conducted for TD Waterhouse in 2010, 32% of those polled said they were counting on winning a lottery to fund their retirement. "While this declaration may be tongue-in-cheek, based on the survey results, this team is less likely to have monetary plan and more likely to be anxious about retirement and feel behind in their savings, " according to a TD Waterhouse assertion. Whether the responses about winning lotto were serious or not, the data obviously indicated that a lack of retirement security is a source of distress for many who responded.

A different poll released early in 2011 by the Canadian Imperial 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 roadmap to get there. In a study for Standard Life, 41% of the people respondents were unsure in case their rate of saving presents enough for them at retirement.

Typically, financial advisors advocate "save more, save more, save more" as the reply to how to raise the amount available for retirement and other needs. But for many, saving more is simply not an option, because they are not earning enough to have additional funds in order to save and commit. Others might be able to save more, but are www.lottospielen24.org unwilling to do so because they do not want to live a diminished standard of living while saving for a time that they might not live to see.

A few baby boomers are waking up to the fact that there is another retirement solution - create new sources of income that will provide associated with monthly cash flow and a residual payment in the future. They may be no longer working for a paycheck; they are building a millionaire business for cash flow and financial security.

If you are thinking about developing a new source of income with a millionaire business, start with what you know best, what I call your 3 "S" Factors: your skills, your strengths, and your successes. Create a products or services around these factors that folks want or need and have already exhibited a willingness to buy. Then identify a tiny section of that market to focus on, known as market market.

You will have the best chance for success if you give your niche market what it wants to buy. Not necessarily sure what that is? Then ask the people who are in your niche area. Do a simple survey, either online or offline. Here are a couple of ways you can do it. First, if you are near a university, ask if your study can be part of an industry research class. Require faster results? Find out where the members of the market go and possess 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 brief survey while waiting in line to pick up the kids from school. It is crucial always to think like your potential buyer, but you have to know the way they think first.

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

You should customize your product or service for your niche market, so consider how you can 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 purchase price you will charge. (Here's a hint: never compete only on price. When you compete only on price, the market sees your product as a commodity, with no distinct market edge, and you may easily get secured in a downward price spiral.