Baby Boomers Willing and Able to Work Longer!

Growing Older With Gusto

The Chicago Tribune had an eye opening article about the problems facing those 50+ in getting and staying in the job market as they move into the older demographics.

They claim that the unemployed American aged 55-64 takes a year longer, normally to find another job.  The reason that companies have historically been reluctant to add older employees to their staff is the preconceived thought that the worker won’t last long or will get sick.

Anyone who is up on the trends of this generation knows that the baby boomer generation is living healthier lives longer and has expressed a willingness and desire to extend their working lives.  The new medical technologies are treating and preventing disease which allows for this generation to live longer and more actively  Also, boomers realize that if they are going to be living longer they may need to boost their retirement savings to accommodate…

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Baby Boomers Willing and Able to Work Longer!

The Chicago Tribune had an eye opening article about the problems facing those 50+ in getting and staying in the job market as they move into the older demographics.

 

They claim that the unemployed American aged 55-64 takes a year longer, normally to find another job.  The reason that companies have historically been reluctant to add older employees to their staff is the preconceived thought that the worker won’t last long or will get sick.

Anyone who is up on the trends of this generation knows that the baby boomer generation is living healthier lives longer and has expressed a willingness and desire to extend their working lives.  The new medical technologies are treating and preventing disease which allows for this generation to live longer and more actively  Also, boomers realize that if they are going to be living longer they may need to boost their retirement savings to accommodate a potentially longer life, help send kids to college and assist with the care of older parents.

 

Some companies that are forerunners in hiring more baby boomers include the NIH and Scripps Health according to AARP.  Interestingly, Scripps Health, based in San Diego, is seeking to employ older workers even though their past experience may not be in the healthcare industry.  A senior representative claims, “Although we train lots of recent grads, we prefer to have more seasoned people because they stay!”

 

The AARP Foundation is working on a program to come to the aid of the long tern unemployed which is called, “Platform to Employment”.

This is just another example of ways in which people are growing older with gusto!

The Love of Pets: Do They Take A Bite Out Of Our Savings?

A recent article in the Wall Street Journal addresses the issue of not only the high cost of health care for ourselves, but what about what we spend on our pets as they age along with us?

it was reported that older adults are spending way more today on their pets than they did in 1990. For example, adults in the age range of 64-75 are spending huge amounts of cash in two categories – pets and hobbies!  The growth rate since 1990 is 5.2% according to a new report by the National Center For Policy Analysis, a not for profit organization based in Dallas.

Financial advisors for the rapidly growing baby boomer generation are growing concerned that this dedication to pets could be a budget buster in later retirement.  This is a topic that rarely gets discussed, but is something that avid pet owners should be made aware.

One area that people should be mindful of is the purchase or adoption of pets once you are retired. It’s important to remember that pets are a long term commitment. Think about the type of pet you plan on procuring. For example, large dogs are more costly and will take a big chunk out of,your savings. Other unexpected costs may arise. We heard of a woman who while away on vacation came home to learn her dog had swallowed glass. Her final cost of treating him totaled $4,000!

Pet insurance is another option. Premiums will range and are dependent on the breed, size and age of your pet. Read the fine print so you know exactly what is covered by your pet insurance.

Ways of cutting the costs of pet care and cushioning your retirement nest egg include keeping an eye out for specials on vaccinations and pet prescriptions. Check out online pharmacies and mail order.

For those who consider the costs and opt out of full time pet ownership there are other ways of getting your pet fix! Offer your services as a pet sitter or pet walker and check out animal shelters in your area. They are always looking for volunteers.

Most of all, remember that pets are great companions as we grow older with gusto. They help lower our blood pressure and give us great contentment. Make that healthy investment and keep your pet safely by your side!

The Love of Pets: Do They Take A Bite Out Of Our Savings?

A recent article in the Wall Street Journal addresses the issue of not only the high cost of health care for ourselves, but what about what we spend on our pets as they age along with us?

it was reported that older adults are spending way more today on their pets than they did in 1990. For example, adults in the age range of 64-75 are spending huge amounts of cash in two categories – pets and hobbies!  The growth rate since 1990 is 5.2% according to a new report by the National Center For Policy Analysis, a not for profit organization based in Dallas.

Financial advisors for the rapidly growing baby boomer generation are growing concerned that this dedication to pets could be a budget buster in later retirement.  This is a topic that rarely gets discussed, but is something that avid pet owners should be made aware.

 

 

One area that people should be mindful of is the purchase or adoption of pets once you are retired. It’s important to remember that pets are a long term commitment. Think about the type of pet you plan on procuring. For example, large dogs are more costly and will take a big chunk out of,your savings. Other unexpected costs may arise. We heard of a woman who while away on vacation came home to learn her dog had swallowed glass. Her final cost of treating him totaled $4,000!

Pet insurance is another option. Premiums will range and are dependent on the breed, size and age of your pet. Read the fine print so you know exactly what is covered by your pet insurance.

Ways of cutting the costs of pet care and cushioning your retirement nest egg include keeping an eye out for specials on vaccinations and pet prescriptions. Check out online pharmacies and mail order.

For those who consider the costs and opt out of full time pet ownership there are other ways of getting your pet fix! Offer your services as a pet sitter or pet walker and check out animal shelters in your area. They are always looking for volunteers.

Most of all, remember that pets are great companions as we grow older with gusto. They help lower our blood pressure and give us great contentment. Make that healthy investment and keep your pet safely by your side!

Leading A Purposeful Life!

How can we expect to grow older by staying stagnant?  We can’t expect to have gusto as we move ahead if we don’t examine what our purpose is in life at this stage.   The link between having a strong purpose in life and aging with good health is explored in a new book by Victor Strecher, aged 58.  

Strecher started researching the connection between having a purposeful life and ones health after losing his daughter at age 19 to heart disease.  He is a professor and director for innovation and social entrepreneurship at the University of Michigan’s School of Public Health.  He wrote a book, “On Purpose” to show the science behind having a purposeful life and how it enriches an older persons well being.

An interview with Strecher emphasized the importance of having a direction in life that goes much deeper than oneself.  You may be wondering how does science play into this theory?  Well, he claims that there is strong science that supports the fact that people with a weaker purpose in life were 2.4 times more likely to develop Alzheimer’s disease.  Also, people with a stronger sense of their role in life tend to live longer, and fewer heart attacks and strokes.  The idea behind having strong reasons for being alive have been shown to reduce ones tendency to shy away from change.  It enables a person to see how their behaviors have affect and changes are made more easily. He gives an example of a recently retired woman who is  helping her daughter and granddaughter. Her knowledge of her importance in their lives is a big encouragement to stay healthy.                                                                                                                                                                                                                                                       

His book is full of graphics and exercises.  One exercise has the reader asking themselves questions like, “What do you hope people will say at your memorial service about you?”  He believes it helps people to realize life has an ending and we need to stop fearing death.

 

The author, himself feels he has been helped by his own research. By helping others find a purpose he has become a less selfish person.

 

 

 

Google Grabs A Stake In Researching The Aging!

Great news!  The Wall Street Journal has reported that Google is backing a company to research aging and the ever growing area of how we can extend the span of humans. The company, Calico, operates separately from Googleand is being run by Apple, Inc. Chairman, Arthur Levinson. He has an extensive background in healthcare and this is the latest in what appears to be a new interest in aging by leaders in the Silicon Valley.

 

Experts on aging believe the research should be targeting the process of aging,  it only the treatment or cures for maladies.  Dr. Olshansky, an expert in aging at the University of Illinois in Chicago, heads up a group that is studying the genetic makeup of those living to 100 and beyond.  His approach holds much promise!  The Wall Street Journal believes this is an area ripe for investors!

 

 

 

 

Broadway and The Art of Aging

Oscar winning actor, Estelle Parsons, is currently preparing for her role in a play to be opening soon on Broadway- “the Velocity of Autumn”. I saw her perform in the leading role of a Tony award winning play, August Osage County, a few years ago on Broadway and she was fabulous. The play required her to have enormous stamina for running up and down a staircase and she rose to the occasion!

Getting back to her current role in the “Velocity of Autumn” which is a coming of age role about getting older. It’s rare to see something with this theme on Broadway and it promises to be a big hit.

The play deals directly with what it is really like to grow old and how one is faced with potential loss of freedom. The freedom that we take for granted with good health and the family who fearfully want to protect the older members by taking away their freedom. The actor in this play desperately wants to remain in her home and stay as independent as she has been in the past.

All our fears of aging are expressed in this play and both the actor and writer of this play feel that this is the right time to be addressing these issues through art. They rightfully assert that so many people are living longer than they expected and want to think about how they will spend this part of their life. They are hoping that the play will open up discussions among people of all ages. After all, “Driving Miss Daisy” was a play that enticed younger people, because they thought of their grandparents!

So, go see this play if you can and think about how the actor is growing older with gusto!