The typical retirement plan devised by a financial advisor will call for you to manage your investments in stocks, bonds and cash so that they last through your projected life span.
Many of us in the boomer generation are confronting a situation we never thought we would be dealing with: launching a second-act career in our 50s or 60s. Yet that is exactly what many of us are doing — bravely ripping up our old resumes and rewriting our life stories so that we can sync up with a world that has changed radically since we were last "on the market."
Targeting Older Workers
Los Angeles-based Tengia connects seasoned workers to opportunities in industries they know well. Whether you miss having a place to make a contribution each day or need a paycheck, the goal of the company is to connect older workers with meaningful work.
A recent Gallup poll found that 74% of adults plan to work past traditional retirement age. The majority, 63%, say they will work part time, while 11% say they will continue to work full time. Times have really changed – in 1995 only 14% planned to work past retirement. We are just beginning to see the intersection of the aging of the baby boom generation, the outcome of the recession, and the lack of retirement savings for a number of older adults.
By Lori Bitter, for Silvernest & GRAND Magazine
In an effort to keep things simple for people who are nervous about retirement – whether they are 42 or 62 – conventional planning strategies focus on how to save and invest money. If you save X amount and invest wisely you will live happily for N years. That is how retirement misconceptions begin.
Dr. Roger Landry spent more than 40 years as a preventive medicine doctor. If he could write a mass prescription for America’s aging population, it would likely be the title of his book: Live Long, Die Short. In a nature analogy he likes to use, he advises us to be more like a leaf . . . “become more colorful with age, make more beauty with others than alone, and then drop off the tree” when it is time. The retired Air Force colonel and surgeon is serious about aging vibrantly, and he has the data to support his recommendations.
As we celebrate American Independence this month, it brings to mind how dependent we are on our nation’s 65 million caregivers. Over the next 20+ years, the next civil rights issue we will face is a growing older population with more loved ones needing care as they age-- whether diagnosed with a disease, disorder or living with a disability. There is a great need to recognize and support family caregivers, as they are our nation’s largest volunteer healthcare workforce. Particularly during July’s National Sandwich Generation Month, we celebrate those who are juggling children, career and caregiving for an older parent.
Two Elders in my life, Eldo and Harriet, taught me about the dignity of risk – one aspect of resilience and independence that is often overlooked as people age. It’s far too common for well intentioned helpers to pressure older adults – especially those with functional challenges – into a safety bubble. The dignity of risk simply allows people regardless of age or functional ability to continue making the choice of how to live – how to balance personal risk with safety.