With the oldest Baby Boomers turning 60, millions of them are preparing to retire. Unfortunately, a high percentage of them are realizing that they have not received the proper education to prepare themselves financially for this stage of their lives.

Most of them don’t even know how much money they will need to withdraw.

And retirement isn’t the only financial challenge many Baby Boomers face. College for their children and nursing or home care for their aging parents are additional burdens to bear.

Unfortunately, money is a big hurdle, even for Boomers at the height of their careers. Only 59% say they think they will be able to maintain their standard of living in retirement.

But 90% haven’t done a great deal of retirement planning, while 20% consider themselves well-informed when it comes to investing for retirement.

The answer is financial education. No, it wasn’t part of his school curriculum, and it was most likely a subject missing from his college education as well.

The first thing Baby Boomers need to realize is that they may be highly educated in many other areas, but most of them are financially illiterate.

They were raised to go to school, get good grades, find a secure job, a secure job with benefits, and stay there their entire lives.

But now the rules have changed. In the information age, education is more important than ever, because things will change faster than ever.

Instead of being left in the past, Baby Boomers can build residual income by taking advantage of what the information age has to offer.

One of them is the possibility of learning how to earn money from home. Anyone with a computer with an Internet connection has the world literally at their fingertips.

The Internet opens the doors to an incredible number of opportunities. Real estate investing, internet marketing, stock trading, affiliate marketing, e-Bay and e-book writing are just a few examples of what is available on the internet today.

Baby Boomers who want to increase their income, are willing to learn, and persevere diligently can prepare well for their retirement from the comfort of their own home.