Fifty-Plus Ventures

Over Half of Baby Boomers Plan to Work Past Traditional Retirement Age

Mike Byrnes — Mon, 09 Aug 2010 21:59:57 +0000

Over Half of Baby Boomers Plan to Work Past Traditional Retirement Age

A recent survey by Robert Half survey found that 54% of baby boomer respondents plan on working past tradtional retirement age.

A major reason given for planning to work past traditional retirement age is the impact of the recent recession. Key quote from the survey results:

Among professionals who plan to work past the traditional retirement age, strong majorities in all generations cited the past recession as an important factor in their decision.

The survey covers generational attitudes in the workplace and looks at Baby Boomers, Gen X and Gen Y.

Also, they have multimedia press release on the survey that has charts and videos on their survey.

BLS – Are there more older people in the workplace?

Mike Byrnes — Sat, 03 Jul 2010 15:19:13 +0000

July 2008

From Bureau of Labor Statistics (BLS)

Are there more older people in the workplace?

Between 1977 and 2007, employment of workers 65 and over increased 101 percent, compared to a much smaller increase of 59 percent for total employment (16 and over). The number of employed men 65 and over rose 75 percent, but employment of women 65 and older increased by nearly twice as much, climbing 147 percent. While the number of employed people age 75 and over is relatively small (0.8 percent of the employed in 2007), this group had the most dramatic gain, increasing 172 percent between 1977 and 2007.

March 2010

Record unemployment among older workers does not keep them out of the job market

Tim Berry’s Baby Boomer Un-Retirement – Part 2

Mike Byrnes — Fri, 18 Jun 2010 16:13:01 +0000

Tim Berry’s Baby Boomer Un-Retirement – Part 2

Several years ago I posted on Tim Berry’s un-retirement. Here is the main section of that post:

“I recently traded emails with well-known business planning expert and blogger Tim Berry. I was curious how he found the time to do so much work. His answer was he was retired.

This came as quite a surprise to me since from the outside it looks like he runs a media empire. Tim has multiple blogs, a consulting practice and a software company. He actively participates in webinars, writes books, speaks at conferences, writes for traditional media, etc.,etc., etc.

While Tim may not be the typical baby boomer, he is a great example of our generation’s approach to retirement. Tim and others like him are why we are – somewhat obviously I think – forecasting that retiring boomers Will start and work in small businesses in growing numbers.”

Tim has written a follow-up article on his un-retirement – How to Rewrite Your Job Instead of Retiring – over at Small Business Trends. It is interesting to see his perspective after 3 years. He is very enthusiastic about his retirement because he found something he loves doing. Key quote:

“For me it was writing, blogging, speaking, etc. This blog posts, several blogs … in fact since I named the new CEO in April of 2007 I’ve done slightly more than 2,000 blog posts, and three books. And speaking, and teaching.”

I think all boomers should read Tim’s article as part of their retirement planning.

(The authors are Steve King and Carolyn Ockels. Steve and Carolyn are partners at Emergent Research and Senior Fellows at the Society for New Communications Research. Carolyn is leading the coworking study and Steve is a member of the project team. Small Business Labs, from Emergent Research, covers the key social, technology and business trends impacting small business.)

WSJ – “Midlife Crisis: How to Cut the Cost”

Mike Byrnes — Tue, 15 Jun 2010 19:15:20 +0000

To be sure, Americans of all ages are feeling the pressures of the economy. But when the American Psychological Association conducted its annual stress survey last year, it was the 45- to 60-year-olds who earned the dubious distinction of being most frazzled, with nearly a third calling themselves “extremely stressed.” And it’s no wonder: The U.S. Department of Labor reports that more than 2.7 million midlifers have been unemployed for at least half a year, more than in the worst months of the past four recessions combined. Many are burdened by rising tuition bills for their kids and increasing care demands from aging parents—not to mention their own severely cracked nest eggs. According to the Pew Research Center, middle-aged Americans suffered bigger investment losses from the crash than any other group, causing many to push back retirement an average of three years. “The recession, in some cases, has actually caused a midlife crisis,” says Timothy Maurer, a Hunt Valley, Md.–based financial planner.

So what’s a boomer in a rut to do? Everyone from psychologists to financial planners says a bumpy midlife transition may be inevitable for many. But reaching a certain age doesn’t mean you automatically have to scratch the “Is this all there is?” itch with an overpriced convertible, ill-advised investment or lipstick-on-the-collar adventure. Below, our own guidebook to the hidden costs of—and solutions to—the midlife blues.

“I’ll Start My Own Business.” …

Americans Retire Later, but Keep Sharp Longer

Mike Byrnes — Mon, 03 May 2010 10:02:18 +0000

By Justin Lahart -WSJ

After the worst recession since the 1930s left household finances in tatters, many Americans won’t be retiring nearly as soon as they hoped. A quarter of workers in a recent survey conducted by the Employment Benefit Research Institute said they postponed their expected retirement age in the past year.

Workers in the U.S. retire much later than in other countries. About half of American workers aged 60 to 64 work. In Germany, only a third do, and in France, only a sixth. A glance at how 60 to 64 year olds score on memory tests reveals a starkly similar pattern: They do best in the U.S., worse in Germany, worse still in France. …

To read the full article CLICK HERE

The perfect startup team? Grey hair and Mohawks

Mike Byrnes — Sat, 27 Mar 2010 14:59:18 +0000

March 26, 2010 | Chris Morris |

A startup team made up solely of college students may find themselves making tons of rookie mistakes, but a company founded by veterans may be trapped in yesterday’s thinking. And any company made up solely of either demographic has virtually no chance of getting VC money. That’s why Heidi Roizen, managing director for Mobius Venture Capital, says the best way to turn heads is to have a combination of both in this older, but still relevant entrepreneur thought leader lecture given at Stanford University.

Stanford University’s Entrepreneurship Corner provides a free collection of over 1600 videos and podcasts, featuring lectures by today’s Entrepreneurial Thought Leaders.

An Attractive Team Has Youth AND Grey Hair

Encore Careers – an alternative to starting your own

Mike Byrnes — Tue, 23 Mar 2010 15:06:12 +0000

http://www.encore.org/find/careerfinder

Finding the perfect Encore Career can be difficult, but searching for encore opportunities just got easier. Our Encore Career Finder scours more than five million listings to find jobs in nonprofit, environmental, health, education, social service and governmental organizations.

To get started, choose the field you’re interested in. Add keywords (such as “teacher” or “marketing“). Identify your city, state or zip code. Click on “Find Careers” for a list of openings tailored to your preferences. You might need to fiddle a bit with your search terms to get the results you want..

We’re eager to improve the Encore Career Finder. Send your suggestions to info@encore.org.

http://www.encore.org/community

Millions of people are living out a distinct and compelling vision of work in the second half of life, and thousands of them are part of Encore Nation. This is the place where Encore.org members can interact with the whole Encore Community, introduce themselves, post general comments, make suggestions about the site and share news.

Baby Boomers start new businesses at fastest pace

Mike Byrnes — Fri, 19 Mar 2010 12:31:51 +0000

From the Kauffman Foundation report “The coming entrepreneurial boom“.

At over 25% of the U.S. population, baby boomers (born between 1946 and 1964) are the single largest population cohort. Currently aged 43 to 61, baby boomers are moving through the prime years of small business formation. According to the Kauffman Foundation, Americans aged 55 to 64 form small businesses at the highest rate of any age group—28% higher than the adult average (see Figure 2). Americans 45 to 54 also form small businesses at an above average rate.

The Greying of the Workforce

Mike Byrnes — Fri, 19 Mar 2010 12:13:25 +0000

The Greying of the Workforce

Pew Research recently (9/09) released a study on the aging American workforce. The study echos other research showing that the workforce is aging and many older Americans want to work beyond the traditional retirement age. Key quote:

“According to one government estimate, 93% of the growth in the U.S. labor force from 2006 to 2016 will be among workers ages 55 and older.”

The New Entrepreneur: Research Review

Mike Byrnes — Fri, 12 Mar 2010 01:52:36 +0000