The number one fear of most middle aged and retired women is NOT being a bag lady, but being alone. That is contrary to what most people assume given the media response to aging Baby Boomer women.
Even with the abysmal savings rates and low participation rates in 401k plans, the fear of being alone is much greater than the fear of not having enough money.
I think much of that fear is based on not having someone to share the financial burden of retirement. It is never too late to start putting together some thoughts on how you will maintain a lifestyle after the paychecks stop. The paycheck need not stop all together.
What if you could work part-time at something you love and find some time to satisfy the desire to contribute something meaningful to the planet?
What if you could teach something you know about on a webinar or write a book you could sell on some subject you know volumes about? Both these things are very possible and very inexpensive to do. They can create a flow of income which is not dependent on your getting in a car and driving to an office or paying thousands of dollars to an editor or publisher.
We all have knowledge of something which can be monetized. Most of us do not see what the something is. Ask your friends and family what they know you to be especially knowledgeable about. You might be surprised. (“Nothing” is not an answer…) Gardening, baking, decoupage, management, entrepreneurship, non-profit fund raising, etc.
Then start with a search on Google or whichever search engine you use and see what people are buying on Amazon.com and other book store sites on the subject. See how a small eBook can make a nice piece of change for anyone who is willing to take the time to write it. You can even find people who will “ghostwrite” it for you.
No excuse anymore for fear of being alone AND not having enough money to survive. Bag ladies be gone!