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Retirement Wisdom

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Retirement Wisdom

Make the Most of Social Distancing

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By Joe Casey

Adaptability. Resourcefulness. Ingenuity. Resilience. These are words to keep in mind during these difficult times. We’re facing a serious health situation with a great deal of uncertainty, anxiety, and stress. There are real economic consequences. The routines of daily life have been disrupted and many people have been ordered to stay at home. Social distancing is likely to last for a significant period of time, at least in certain parts of the world. Resilience building and adaptability to change are keep skills for the rest of your life.

So what’s the best way to handle this period of time?

Can it somehow be constructive for you and for others?

 

A Simple Framework is Helpful in Times Like These

As an executive coach working with Fortune 500 companies, I give my clients a 30-plus page report summarizing the observations of key people they work with, work for, and lead. It’s based on confidential interviews I conduct and it’s designed to give them a rare candid view of how others perceive their strengths, their style, and areas for development. The most valuable section of the report captures recommendations on behavioral change. People share their ideas on what they think the leader should Start to Do, Stop Doing, and Continue to Do. It’s gratifying to see what powerful changes eventually come from this simple framework.

It was on my mind last week as I was moving some things from my office to begin working fully from home. I now have about 12 to 15 hours a week I would typically spend in my car going to my office or traveling to client meetings. How can I best make use of these hours for the foreseeable future?

Your health and safety – and those of others – comes first. But if you are limited to staying at home for weeks, this simple framework of Start, Stop and Continue can help you think through how to make the most of this period of social distancing. Whether you’re working full-time from home, semi-retired, or already retired, it can help you organize your thoughts about this disruptive period and how to use it wisely.

 

 

 

Start

Adaptability is essentially about being open to change – and being willing to step outside your comfort zone and experiment. Here are some ideas on how you can start something new. None are earth-shattering. But they’re simple, doable and beneficial. They’re meant to stimulate your own thinking. Pick a date in the future – perhaps it four weeks, eight weeks or twelve months from now.  Ask yourself, what if I started to do something that I’ve always wanted to do? Where would I be at that future point?

“New” is top of mind for me right now. I’m 90 days into writing a book on the power of new experiences and pursuits in retirement. While this is a disruptive period, it does offer an opportunity to get engaged with something new. Social distancing won’t last forever. Start something that may last longer and be good for you longer-term.

I’m not suggesting that you start many new things. I’m recommending you try one or two. Start small. You may want to encourage others (especially those sequestered with you) to do the same.

 

Create a new habit. When we’re out of our normal rhythm of day-to-day life our habits can change. But this period of time is also a chance to design and wire in new habits that you want in your life. BJ Fogg has created a simple yet powerful method of habit formation, Tiny Habits. Listen to him explain how these Tiny Habits Can Lead to Big Changes down the line. 

Take an online course. You’ve likely become an expert on Zoom in the last few weeks. What’s next? There are so many options to learn online today at various levels of depth and cost. Look at what’s available on Coursera or Udemy. Check out MasterClass. Learn some new – even if it’s a magic trick or two.

Read something totally different. Choose something outside of your typical areas. Prefer non-fiction? Read a novel. Up to date on the bestseller list? Read a classic.

Cook something new. The usual fare can be comforting. Try making something completely different. You may be surprised.

Start a garden. It doesn’t need to be elaborate. Just start if it’s not something you usually do. Here’s why.

Begin to meditate. Is this on your list of something you wanted to do, but haven’t has the time? Now you may. Start small. Here’s a place to start.

Try yoga. This is on my list. I now have no valid excuses. I have a wife and daughter at home who are certified yoga instructors and classes on Zoom daily. Namaste. 

Reconnect with someone. This has been the biggest surprise for me over the past year or so. It’s an amazing experience to reconnect with friends, a college roommate,  former co-workers, and even a close family member. It doesn’t matter how long it’s been. Trust me, you’ll pick up where you left off. All it takes is one text, an email, or an old-school phone call. You’ll be glad you did.

Thank someone who made a difference. I’ve read many times about how valuable this is to do. Last year, I had an opportunity to do this and I took it. It is one of those rare things that is truly mutually beneficial. Write a simple, sincere email, note – or better yet – an old-fashioned letter. You can truly make someone’s day by thanking them for how they helped you in your life and career. You know who they are. Write to them today.

Check-in on someone. Who’s in your orbit who may be having an especially difficult time with this? This includes older relatives and neighbors. It also includes people working from home with multiple kids now home from school, no matter what their ages. Reach out to see how they are doing.

Declutter a room. Look outside and you can feel it’s time for spring cleaning. Tackle one room. Set a timer and spend 30 minutes to get rid of what you no longer need. 

Explore a hobby. Other than sports, I personally don’t have a hobby. But this is a great time to look into one, experiment with one or resume one you used to have in the past.

Fix that thing that needs fixing. Is there something you’ve been putting off? What better time to tackle it.

Start a new project. What’s your next personal or professional project. Map it out. Take the first steps.

Develop a Plan B. The reality is that this pandemic will have a significant impact on the economic climate. Are you prepared for what you’ll do next if you are forced to retire early or change careers? About half of retirees leave earlier than planned even during the best of times. Two of our recent podcast guests Dave Evans and Dawn Graham offer valuable advice on planning your future, which can be very useful – especially in these uncertain times. 

 

Stop

It’s often equally helpful to stop some things. Here are some candidates to consider:

 

Checking the markets too often. I heard someone give this advice: Stay informed, not obsessed.

Over-consuming news. Sometimes it’s hard to turn away. Set limits. Set a timer and then move to something else.

Too much Netflix. Binge away. But there may indeed be too much of a good thing. Please let me know if you find the limit.

 

Continue 

In this current situation, look at the foundational things you want to keep going. Identify where you may need to make adjustments from what you’re doing now. A big part of adaptability and resilience is staying grounded in the practices that keep your physical and mental health strong.

 

Keep exercising. While you may not be able to go to the gym, there are many things you can do at home to stay  fit. Step away from your devices every few hours and take a walk.

Eat healthy. We can learn from others.

Stay socially connected. Isolation has many negative effects. Take the initiative. Reach out.

Spend time in nature. It’s good for you (as long as you keep your distance and don’t congregate). Spring is here.

Support others. Look for opportunities to help and offer support.

 

One of the most valuable skills I’ve learned as a coach in reframing. It helps to look at an issue from different perspectives. I came across this old talk by John Gardner on self-renewal (shared by Shane Parrish @Farnum Street). It reframed things for me. Perhaps this period of isolation can lead to some much-needed reflection and self-renewal.

I hope you’ll be safe and healthy during this time and beyond. I

Joe Casey is a former senior HR executive at Merrill Lynch who’s in his second career as a retirement coach at Retirement Wisdom. He holds a Masters in Gerontology from the University of Southern California and works with people to help them discover and design what’s next after their primary career.  He’s the host of The Retirement Wisdom Podcast talking with thought leaders, experts, and retirees pursuing interesting Second Acts who share lessons learned that can help you in your journey.

____________________________________

More Ideas?

My list is intended to be a thought-starters. Want more ideas to get yours going?

This piece from my hometown newspaper has a ton more:

75+ things to do while coronavirus has you stuck at home

As cabin fever sets in, try these all-ages ideas for fun, self-improvement, and even a little stress relief.

 
Related RW Blog Posts You May Be Interested In

Three Mindfulness Practices to Try Before You Retire

Power Up Your Purpose: Now’s The Time

 

Related Podcast Episode

Why Building Resilience is Vital in Midlife and Beyond – Jan Zacharjasz

 

How to Give a Retirement Gift That’s Meaningful

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By Joe Casey

At some point in your career, you’ll be faced with choosing a retirement gift for your boss or one of your employees. Or maybe you’ll want to  come up with some gift ideas for retiring co-worker. Many people assume they’ll be able to find the perfect gift, only to discover that it’s quite a unique challenge. Here are some simple tips to keep in mind the next time you’re looking for a retirement gift, including some of our top retirement gift ideas.

 

1. What Are The Best Options for Retirement Gifts?

 

First and foremost, it’s important to remember that retirement gifts mark an important milestone in a person’s life and career. Not only does retirement denote the end of a person’s career, but it also sends them off into an entirely new stage of life. It’s best to generate retirement gift ideas that honor both of these life stages, while also providing value.

 

There’s no denying the fact that retirement is a major life transition. After years of dedicating a significant portion of their lie, time, and energy to a career,  now they are free to spend their time however they choose. It’s important to empathize with the multitude of feelings and emotions that this transition can bring about in a person.

 

While it may seem like having the freedom to retire is carefree and easy, that’s not always the case. In fact, retirement is one of the top 10 most stressful experiences in life. Many people contend with the reality of losing their identity and status in retirement. Others struggle with redefining their life’s purpose after their career. In any case, the right retirement gift serves to acknowledge a person’s work and send them off on a positive note.

 

2. Why a Thoughtful Gift is More Meaningful Than a Token Gesture

 

In many cases, experiences are better gifts than things. Sure, certain objects are an appropriate way to commemorate the retirement day, but the enjoyment a person gets from objects is limited. Experiences, on the other hand, are one of the best retirement gifts.

 

Gifting someone an experience such as tickets to a special show, a weekend getaway, or a vacation is sure to bring joy. The right experience gives the retiree a chance to connect with their new phase of life in a positive way. An experiential gift also provides lasting memories and opportunities for new, novel adventures. You don’t have to spend a lot of money to provide the right experience for someone, either. All it takes is some forethought and planning.

 

3. Best Retirement Gifts for Women

 

Of course, everyone is different. But there are some special considerations to keep in mind when you’re looking at retirement gifts ideas for women. There’s never one perfect gift that will fit every person, so it’s a good idea to take the person’s behaviors and preferences into account when shopping.

Themed gift baskets or packages that contribute to a particular theme are always effective. If a woman wants to pursue gardening and horticulture in retirement, then you could gift her some essentials to help her get started. The best gifts are those that encourage new activities in the free time that retirement brings. This way, your gift continues to provide enrichment and value.

Experience-based gifts are also great retirement gift ideas for women. Try gifting a weekend getaway including spa visits or unique shopping opportunities. A monthly subscription to a book club is excellent for passionate readers who are about to have more free time in retirement. Jewelry and clothing are great too, but again, always cater to the taste of the individual rather than getting something generic.

 

4. Best Retirement Gifts for Men

 

It’s true that shopping for men can be difficult sometimes. Coming up with interesting awesome retirement gift ideas for men doesn’t have to be hard, though. When you know retirement is coming up for a man, keep an ear out, and pay attention to what he says about his interests and passions. Getting a man something practical is almost always the best approach.

Stylish clothing gifts aren’t restricted to women. In fact, lots of men will appreciate a thoughtful gift that adds to their wardrobe in a unique way. Think of items that are timeless and classic here.

If a man is interested in outdoor activities, then you could get him something that brings value and encourages that activity. Giving a man the tools he needs to start on a new hobby is an excellent idea. Try a beer brewing kit for the fledgling brewmaster, or a new pair of binoculars for someone interested in bird watching. As with all retirement gifts, the best retirement gifts for men require you to consider the hobbies and interests that make a person unique.

 

5. Choose a Thoughtful Gift That’s Memorable

 

If you can, try to avoid getting a generic gift. It’s always much better to do your homework on the person retiring. You don’t have to learn about every one of their hobbies, but learning some basics of what interests them helps. What’s special to them? What do they like and dislike? If you don’t know the person that well, try talking to some of their closest co-workers. If appropriate, you can also reach out and speak to their family members.

 

Avoid gag gifts. Gag gifts are cheap and don’t convey a sense of authenticity. If you absolutely must play some sort of joke, couple it with something genuine and authentic. But in the majority of cases, it’s best to avoid gag gifts of any kind. Often times they can backfire, and the negative consequences are not worth any sort of small humorous effect you might produce.

 

6. Present It Well

 

The presentation of your gift matters. Don’t just think about the retirement gift itself. Think through how you’ll present the gift. If you’re giving the gift in a public setting, then know your audience. Play to the room while also doing all that you can to honor the retiree. Think about the venue in advance so you can navigate any peculiar considerations. Design your key messages to reiterate a sense of honor, appreciation, and gratitude for the retiree.

Finding the right retirement gifts is not always easy but if you follow these simple tips, you’ll be that much closer to showing the new retiree in your life just how much they matter.

—

Joe Casey is a former senior HR executive at Merrill Lynch who’s in his second career as a retirement coach at Retirement Wisdom. He holds a Masters in Gerontology from the University of Southern California and works with people to help them design what’s next after their primary career.  He hosts The Retirement Wisdom Podcast talking with thought leaders and retirees pursuing interesting Second Acts who share the lessons they’ve learned that can help you in your journey.

 

You May Also Be Interested In

How to Give a Great Retirement Speech

Your Greatest Retirement Asset Could Be Your Attitude

Want to Help Someone Retire Well? Consider the Gift of a ‘Retirement Coach’ – MarketWatch

Listening To These Podcasts Might Push You to Save for Retirement – MarketWatch

Three Mindfulness Practices to Try Before You Retire

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By Bev Bachel

According to Jacquelyn Fletcher Johnson, the founder of Heartwood Healing and my favorite self-mastery guru, mindfulness is the practice of paying attention—intentionally and without judgment—to our thoughts, emotions and body states in the present moment. Not rehashing the past or fretting about the future. However, staying in the “now” is often easier said than done, especially when it comes to thinking ahead to retirement.

“Retirement is a major milestone that can be a lot more stressful than people imagine,” explains Fletcher Johnson who says she’s seen several individuals get sideswiped by their body’s “fight, flight or freeze response.”

“That response is the body’s automatic, built-in system to protect us from real and perceived danger. It keeps us safe but when turned on chronically, it puts us in a state of stress that can be harmful to our physical and mental health.”

Mindfulness, however, puts us back in control by telling our amygdala, the part of our brain that helps process emotions, that everything is cool. “It basically calms down the emotional part of our brain so that we can think rationally,” says Fletcher Johnson.

Mindfulness also delivers a whole host of other science-based benefits. According to Emma Seppala of Stanford University’s Center for Compassion and Altruism Research and Education, these benefits include more positive emotions and less negative ones, decreased pain, greater empathy and slower aging.

So if you’re eager to live more mindfully and extend the length of your retirement, Fletcher Johnson recommends this loving kindness meditation, designed to help you turn your attention to the life you’d like to enjoy in the years ahead.

You might also want to try one of these three mindfulness practices:

Practice No. 1: Ready, set, repeat.

“I’m getting my ducks in a row. I’m getting my ducks in a row. I’m getting my ducks in a row.”

This is the mantra Karen Carlson, Kansas City, repeats several times each day as she prepares for her upcoming retirement. “My personality type is to be super organized, so repeating it gives me purpose and calms me down,” says Carlson.

The mantra also boosts Carlson’s confidence for the tasks that lie ahead: giving her notice at work, choosing the right healthcare plan, figuring out when to apply for Social Security and deciding where she and her husband want to spend their winter months.

Carlson repeats a second mantra as well: “Whatever happens, I’m going to be okay—today and in retirement.” This mantra reminds her that any crisis of confidence or setback she’s experiencing in the moment, including her husband’s recent unexpected hospitalization, is only temporary and that she will not only survive, but thrive.

Practice No. 2: Focus on what you want, control what you can.

Several years back, Diane Autey, Minneapolis, was hired by a colleague to help write Seeing Red Cars, a motivational book designed to encourage people to focus on what they want more of. “I’ve been a happier person ever since,” says Autey.

Her ability to focus and live with intention made a big difference this past year when the company she worked for merged with another, and she found herself out of a job several years shy of retirement. Rather than despairing, she got busy. “I started every day by focusing on what I wanted—a new job,” says Autey. She found and applied for at least one every morning, only then moving on to the more enjoyable task of networking.

“It’s such a bummer to get caught up in a layoff, especially when you’re in your 50s,” says Autey. But by staying focused on what she wanted and controlling what she could, she landed contract work within two months. And four months later, she had a new full-time job that put her retirement dreams within reach once again. “Plus, I’m making more money and I get to work from home,” boasts Autey.

Practice No. 3: Go with the flow.

In preparing for retirement and the eventual sale of Isle Inn Tours, the travel business they’ve owned for the past decade, Mike and Diane Hawe, Los Angeles, are investing in a new technology platform. That wasn’t something they’d initially planned to do as they wind down their 40-year careers, but they realized they were up for one more “last hurrah.” Plus, the new system will increase the value of their business and make it easier to sell.

Unfortunately, the year-long implementation has been more work than expected. But rather than get upset, the couple is going with the flow. “We work from home, so we concentrate on ramping up and throttling back as our implementation schedule allows,” says Mike.

Some days that means hours-long conference calls and endless troubleshooting. Other days it means early-morning walks with the dog and afternoons at the beach where the ocean reminds them of just how pleasing the ebb and flow of life—and work—can be when it’s embraced on your own terms.

“Retirement is a big milestone, and it can be easy to get hyper-focused on anxious or fearful thoughts,” says Fletcher Johnson. “Controlling negative mind-wandering can help you feel better quickly. I tell my clients that mindfulness is really all about the art of the return. As you practice learning to return your attention to something over and over again, it helps you see that returns are always available. You can return to your feet. You can return to your values. You can return to the new, exciting possibilities life after retirement holds.”

Bev Bachel is a freelance writer and editor, and the author of What Do You Really Want? How to Set a Goal and Go for It. A lifelong goal-setter, she’s tapped into the power of goal setting to run a marathon, launch a business and buy a beach house. One of her in-the-present goals? Becoming more mindful of what brings her joy.

Related Podcast Episode You May Like:

The Mind-Body Connection and The Rabbit Effect – Kelli Harding, M.D.,MPH

Related RW Blog Post You May Like:

Find the Volunteer Opportunity That’s Right for You

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By Joe Casey

Retirement offers ample opportunities to volunteer. And once they’ve earned the freedom to retire, it’s no surprise that so many retirees choose to volunteer in their community. Volunteering offers tangible opportunities to make a difference in your community and the world at large, in ways both small and large. For some, it’s a part of a portfolio of activities, while for others it’s a mission-driven focal point.  While it’s primarily about the impact you can have, volunteer service is also an excellent way to form new relationships and cultivate a new purpose in retirement. But how do you find the volunteer match and the volunteer organization that’s right for you? Here are a few tips to keep in mind.

 

Why Volunteer?

According to the Corporation for National and Community Service over 77 million people volunteer annually. There are clear reasons why. You can do good – and it’s good for you. In fact, there are numerous benefits of volunteering. And many of these benefits can be enhanced for retirees. First and foremost, volunteering gives you the chance to help others; make a difference in the lives of others; and discover a new purpose.  Many people find that this is gratifying, especially after a lifetime of employment.

Volunteering also connects you to your local community. According to the National Institute on Aging, isolation and loneliness are seen as threats to the health of older adults. Volunteer service provides an excellent environment for forming new friendships and keeping social connections alive.

 

What Makes a Good Fit?

 

A Mission You Believe In

Volunteer service is best when you are able to apply your skills to an organization that shares a mission you are passionate about. Because retirement brings so many opportunities to volunteer, it’s wise to investigate where to devote your time and energy so that it’s with an organization you believe in.

If you’re having trouble finding a good volunteer match, try looking at volunteer organizations who align with your personal values and beliefs. Someone who is interested in community literacy, for example, may want to start their search by contacting a local library or bookstore.

A Role That Fits

Never overlook the importance of finding the right role. Finding a role that leverages your skills and experiences is optimal. Of course, this isn’t always going to be feasible due to the disparate needs of organizations. In any case, it’s a good idea to seek roles that allow you to be useful and productive.

People You Like

Who you’re working with during your volunteer hours is just as important as what you’re doing. The best volunteer engagements are those that put you in contact with people whose company you enjoy. After all, you don’t want to commit to a volunteer organization, only to discover that you’re butting heads with everyone there. (That sounds too much like work and you’ve graduated from that).

The Right Level of Commitment

Your volunteer role should not lead to feelings of stress or overwhelm. Determining your intended level of commitment is one of the best ways to find a role that works for you. Most volunteer organizations are used to dealing with scheduling conflicts, too, so you shouldn’t have any trouble establishing a plan that fits into your life. Make sure that your level of commitment is aligned with the expectations of the organization.

 

Things to Watch Out For

 

Jumping In Too Soon

Before adjusting to the rhythm of their freedom to retire, new retirees can easily bite off more than they can chew. Having the gift of time combined with enthusiasm can lead to over-commitment, and create a perfect storm of regret and resentment. Before getting too wrapped up in a volunteer role, plan – and test – how you want to invest your time in retirement and where volunteering fits into that. You may find that you really want to enjoy some hard-earned time off before taking on any new obligations. Starting when you’re truly ready makes things easier for everyone involved.

Overestimating the Volunteer Role You’ll Play

People transitioning into retirement from corporate life are often used to being in charge. As a new volunteer, they are often asked to do far less than they may want to do. Furthermore, they may be asked to do things that are far below their skillset and experience. It can be a blow to the ego.

When that’s the case, it’s important to reconnect with your reasons for volunteering in the first place. If you find yourself bumping up against the boundaries of your role and you start to become frustrated, it may be a good idea to step back and reexamine your priorities.

Saying Yes Without Getting the Lay of the Land

Without a reasonable level of due diligence, you may find yourself caught up with an organization that turns out to be quite far off from your original vision. To avoid this, make sure you read up on an organization before you commit to a volunteer role. It’s also helpful to research their place in the community and their plans for the future. Learn more about what it’s really like. Doing your part to learn about the organization will help you avoid any bad fits.

Underestimating the Politics 

You might miss some things about work. But no one misses office politics. However, it can be easy to get caught up in the uplifting mission of an organization and fail to realize that all organizations have political dynamics. Not-for-profit organizations are not exempt. You could find yourself caught up in a whirlwind that exceeds your appetite.

 

How to Volunteer Wisely

 

1. Clarify Your Reasons for Volunteering

Reflect honestly on your motivations and what’s most important to you. Are you simply looking to pass the time during retirement? If so, it may be best to consider other activities. But most people who volunteer have a stronger “Why” behind their volunteer activity. Many are driven by wanting to make the most of their freedom to retire by giving back. That’s a great starting point. But it’s wise to dig deeper and be clear about how you want to do so. Fast forward three to five years and envision how you will specifically have made a difference. Regardless of your motivations, it’s helpful to be clear about your own expectations.

2. Talk to People Who Know the Volunteer Organization Well

Try to absorb diverse perspectives from a variety of people both inside and outside the volunteer organization. Develop a sense of the opportunities that volunteers have to contribute. Ask them about the challenges they face. Ask them what has surprised them about the organization.  This kind of preparation is a great way to ensure that a particular volunteer organization is right for you. And it will prepare you well if you decide to go forward.

3. Research the Role

Do reasonable homework so you have a realistic picture of the role you’ll play. What’s the time commitment required? What are the responsibilities and boundaries of the role? How do they match up with your expectations? Answering these questions in advance can save you lots of time and hassle.

 4. Pick Your Spots

There’s no shortage of opportunities to serve. To find those that best suit you, be prepared to decline opportunities. Saying no presents a challenge for some people. But, learning how to politely decline opportunities can lead you to those that are right for you.

 

Take the First Step

Volunteer service is a great way to invest some of your time in retirement. So, do some homework on what would be the right volunteer opportunity for you. Start by visiting Senior Corps or volunteermatch.org for information on opportunities in a multitude of causes across many locations in the US. 

 

Joe Casey is a former senior HR executive at Merrill Lynch who’s in his second career as a retirement coach at Retirement Wisdom. He holds a Masters in Gerontology from the University of Southern California and works with people to help them design what’s next after their primary career.  He hosts The Retirement Wisdom Podcast talking with authors, experts, and retirees pursuing interesting Second Acts who share the lessons they’ve learned that can help you in your journey.

Sign up for our free monthly newsletter Wisdom Notes.

You may be interested in this retirement podcast episode:

Our conversation with Chris Farrell, author of Paycheck and a Purpose

Hiring Older Workers: Reasons To Close The Gap

· ·

By Susan Williams

We are currently experiencing a labour shortage in North America.

In the US, there are now more jobs than people looking for work and this situation is no different in Canada.

If you think this is a good thing unfortunately this isn’t necessarily the case. If left unchecked for too long, this situation could have a significant impact on the economy. This is because labour shortages can drive up wages as businesses compete to try and fill their vacancies. When the wages are increased, this also then increases the cost of products and services which then can turn into increased inflation rates.

But there may be some specific implications in this situation when it comes to older workers.

First the good news.

There are many people planning on working past the traditional age of retirement and this could be a really good thing to help in this situation. In fact, according to the Retirement Confidence Survey published by EBRI (Employee Benefit Research Institute), 8 in 10 workers believe they will work for pay in retirement.

Now for the bad news.

Out of these possible 8 workers that want to work for pay in retirement, they discovered only 3 actually do.

So we have a gap – and it’s a significant one for both businesses and workers.

If I was to do some very basic math, there are an estimated 10,000 baby boomers in the US crossing over into retirement age everyday. This represents approximately 3.65 million workers a year. So if 80% of these people would like to work longer and yet only 30% actually do, that would mean there is potentially a workforce each year of approximately 2.04 million people that may be going untapped.

But businesses need to be engaged and actively looking at this opportunity if they want to tap into these resources. But unfortunately, some companies current ageist attitudes are stopping them from doing this.

Harvard Business Review conducted some research with 10,000 companies and this is what they discovered;

“Over two-thirds of the companies considered older age a competitive disadvantage. This is consistent with data from the AARP that shows two-thirds of individuals age 45 to 74 have experienced age-related discrimination. In other words, if you are older, you are likely to be considered less capable, less able to adapt, or less willing to roll up your sleeves and do something new than your younger peers.”

But these aging stereotypes are so wrong. As I shared in a previous post concerning the developing issue of a gray ceiling for older workers, older workers actually;

  • help organizations stay more productive
  • contribute skills and experiences that can’t be developed overnight
  • stay with organizations longer then their younger colleagues
  • and to many people’s surprise are actually quite technically savvy

Along with not offering employment opportunities, many employers are also not supporting the development of older workers skills as well.

HRD (Human Resources Director) shared some research that they recently conducted with 1,000 employees in the United States. What they discovered was that “60 % of Baby Boomers feel insecure about their current skillsets, and 73% say their employers don’t help them identify the skills they need to develop for the future.”

So in a nutshell – here’s the gap we need to close;

Businesses need workers. Would-be retirees would like to work. It’s doesn’t seem that complicated to me to have some discussions and figure out some creative ways to do this – and do it well.

Flexible work options, offering interesting work and assignments, the chance to mentor employees are all just some examples of some ways to leverage this available talent. I think it’s just a matter of putting aside some outdated ideas and thinking and moving progressively forward into the future – for everyone’s benefit.

 

This article originally appeared on Booming Encore and was reprinted with permission.

Susan Williams is the Founder of Booming Encore – a website and social media network dedicated to providing information and inspiration to help Baby Boomers create and live their very best encore. Being a Boomer herself, Susan loves to discover ways to live life to the fullest. She shares her experiences, observations and opinions on living life after 50 and personally tries to embrace Booming Encore’s philosophy of making sure every day matters. For daily updates to help you live your best encore, be sure to follow Booming Encore on Twitter and join them on Facebook.