I can not conceptualize my parents did not have enough residual income, or what is known as retirement income, slightly less than an average salary, but after the double-dip recession and the downturn of the U.S. stock market in 2008, my parents were 401K wiped out. Their own financial wealth advisers told them both to “ride out the storm” and even deeper positions in their 401K for a greater profit compounding, stock market correction occurs when the final purchase.

Well, the market correction never came, the market just flat fed and remained dead for almost the entire year 2009 and now it is 2010 and the market begins to breathe, but not correctly. The U.S. stock market suffered a series of strokes and most investors lost their entire savings in s span of several months due to misguided advice from retirement planners. It could even five years before the total value of the pension my hardworking parents income is recovered. But my parents are not alone, there are millions of American households are financially destroyed by the double collapse of the U.S. stock market in 2008 and 2009. The baby boom generation that many children had thought it would be financially sound retirement, now have fallen into the embarrassment of looking for handouts from their adult children in order to survive retirement.

Some baby boomers, like my parents have decided to return to the workforce, consulting, tutoring, mentoring young career professionals or actually landing a nine to five part-time or full time job in their lost pension savings to recapture. There seems a big discrepancy between the figures of the financial reports in the media and the financial impact that recession equal numbers in the real world in terms of real lifestyle changes. My parents lifestyle has changed. I went with them and they pay rent, while I build my dream house for my family. However, the rent is much cheaper than what I used to pay, but at least it is money they can use to put in their portfolios and retirement annuities. It seems with the annuity they are protected with a lifetime payout of income, though considerably less.

My parents even when their professional days were always admired how the internet business fast money, but she shrugged off the idea of developing their entrepreneurial talents online because they are traditionalists in the sense of “how someone can legally earn their salary. I calculated that my parents would have to work five years to make enough pension, or a kind of average salary to live above the poverty line, as described by the U.S. Department of Agriculture, Bureau of Labor and Statistics. But ask yourself, how far America has fallen to the lives of America’s largest generation ruined? The baby-boomers who our parents in their 60′s now that’s who I’m talking about. This is the same generation who now live their retirement years with no residual income. However, my parents had a stroke of luck, my mother discovered E-bay. Yes, the internet has provided additional funds for my parents to their retirement savings to recover and what kind of residual income.