Baby Boomer Brain Drain – Does Anyone Care? [Infographic]

Baby Boomer Brain Drain

brain drainNextAvenue.org published America’s Coming Brain Drain: Retiring Boomers which contains an infographic from MBA@UNC. This infographic, seen below, chronicles the issues that will be caused by baby boomers leaving the work force—the Baby Boomer Brain Drain.

What I find disturbing is that so few companies are preparing or seem to care at all.

Baby Boomers in the Workforce

Let me spell out some key statistics:

  • Baby boomers have 56% of corporate leadership positions
  • 10,000 baby boomers are turning 65 every day and will continue to for almost 20 years
  • In 2029, all baby boomers will be 65 years old or older
  • Baby boomers account for 31% of the workforce
  • 4 million companies, which make up 66% of all businesses with employees, are owned by baby boomers

Baby boomers will leave the workforce in the next 20 years, but not in the way we planned.

Are Companies Planning for the Baby Boomer Brain Drain?

Heck NO!

  • 62% of employers at Fortune 1000 companies believe that future retirements will result in skilled labor shortages in the next 5 years
  • 68% of employers have not analyzed the demographics of their workforce
  • 77% of employers have not analyzed the retirement rates of current employees
  • Only 19-37% of employers have taken action to prevent baby boomer brain drain

Baby Boomers and Retirement

Many of us do not want to retire like our parents. Many of us want to learn new skills and stay current and active. Many of us cannot do this alone.

Returning to college is cost prohibitive. I wrote about this in my post College Degree After 50 – Worth It?

Companies will need us to stay on the job, but are they doing anything about it? The statistics below say NO!

Brought to you by MBA@UNC’s online MBA programs

What do you think? What should companies and/or the government do?

Marc Miller Career Design Specialist

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Check out the BoomerJobTips Page for the latest curated content relating to baby boomers or join us on the BoomerJobTips LinkedIn Group

Boomer Labor Power: The Experienced Dividend

Boomer Labor Power

boomer labor powerFor years, companies have sought out younger corporate talent to replace aging executives. What has evolved is the appreciation for the 50+ sector that brings a broad span of experience in human development, generational understanding, fiscal needs, and more.

In a recent survey from the Society for Human Resource Management (SHRM), employers agree that the Boomer Labor Power of 50+ employees has many advantages. A few statistics that emerged from this survey:

  • 77% of older workers have more knowledge and skills than their younger counterparts
  • 71% are more mature and professional
  • 70% have a stronger work ethic
  • 63% are good mentors
  • 59% are more reliable than their younger counterparts

The SHRM survey of its members also indicated that only 36 percent are beginning to examine internal policies and management practices to address the issue of the potential loss of experienced talent through retirement.

Is you company prepared or will Boomer Labor Power persist?

The shift toward older executives working longer …

The number of executives working in and through retirement years has been building for the last decade. They are proving that they can make a greater contribution as the Boomer Labor Power to an organization in a shorter period of time. They are healthier than their counterparts from 10 to 20 years ago. In addition, most have been in the workforce throughout the computer evolution so they have kept up with technology and learned to adapt quickly to change.

According to some executive recruiters, more organizations are hiring older employees – a trend that has picked up speed in the last few years. Their rationale is that age doesn’t matter if you have the right skill set and experience. They don’t worry so much about length of the hire because many employees today tend to move on within three to five years anyway. (source: http://www.diseco.com/more-companies-are-hiring-older-workers/)

Are you seeing this shift to Boomer Labor Power?

On the other hand…

A recent article, “Why Aren’t Firms Planning for an Aging Workforce,” by Jim Emerman, Executive Vice President of Encore.org, revealed that many companies are undervaluing older workers and how a few forward-thinking companies are implementing programs to tap the strengths of the Boomer Labor Power.

You still need to “sell” your assets…

To get the job the formula remains the same.

You need to demonstrate to the hiring manager or recruiter who you are and what you can do for an organization. As a 50+ executive job seeker, you have the advantage of highlighting your seasoned reliability, good judgment, ability to listen, problem-solving ability, and comfort level in working with different types of personalities. Also, it’s critical to emphasize how your valuable life experiences, perspective and ideas can benefit a team comprised of different ages and add a positive, new dimension to a diverse workforce.

What are you or your company doing to be prepared for the Boomer Labor Power shift?

LouiseGarver(Jan17-2014)Louise Garver is an award-winning, certified resume writer, executive career coach, branding, online identity, and job search strategist. Previously her career included recruitment and corporate management experience. Co-author of “Win Interviews!: The New Must-Have Game Plan”, Louise earned 13 career-related certifications, a master’s degree, and post-graduate certification in career counseling.

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3 Lessons Learned by a Baby Boomer Career Blogger

Baby Boomer Career Blogger

Baby_Boomer_Career_BloggerI became a baby boomer career blogger in June of 2011. Three and half years later, I have learned a lot. My readership has taught me so much.

I thought now would be a good time to reflect on what I have learned and get feedback from you!

Baby Boomers – We are not like our parents!

I attended a session at South by Southwest (SXSW) Interactive Conference called Getting Old: A Job for the Young.

The session was led by José Colucci from IDEO. IDEO is a leading design firm that does a lot of work for Apple.

Many of his assumptions were that our old age lifestyle will look a lot like our parents’ did. WRONG!!

Yes, we will live a lot longer. We will also work a lot longer because we will not have enough money to retire on.

For example, he stated that we will purchase as many cars in retirement as we purchased before retirement. Hmm…I turn 60 years old next year, and I am looking at purchasing my last car. I expect this car to keep me going for 20 years! I think I have owned 8 cars in my lifetime.

I see these kinds of assumptions all over the place.

What I have learned as a baby boomer career blogger is that “We are so NOT LIKE OUR PARENTS!”

(Sorry for the rant!!)

We were Raised to be Generalists, and Traditional Education has Failed Us!

I have said many times:

I was raised to be an employee to work for a father-like company who would take care of me until and through retirement.

When I entered the workforce in the mid 1970s, generalists were valued. We were not encouraged to become specialists.

I attended a session at SXSW Interactive called Higher Education: To Get a Job or Create a Job? The premise of the discussion was how can higher education prepare our kids for a job when the skills required by industry changes every couple of years.

Most of us were raised to attain a set of skills that would sustain us throughout our career.

WOW—that is not at all true anymore! The skills I have acquired in the last three years as a baby boomer career blogger are pretty amazing.

What school did I attend? NONE!

What classes did I take? NONE!

Did I attend a lot of meetups? YES!

Did I read a lot online? YES!

Did I participate in online discussions like #blogchat? YES! (By the way, I attribute 90% of what I have learned about blogging to the #blogchat community.

What I have learned as a baby boomer career blogger is—being a generalist is no longer a safe route, and your skills will be acquired in a non-traditional manner.

The World is Changing and Our Children are Leading the Charge

The millennial generation are our children. I state in my multi-generational workplace workshop

They is the way they is — because we made them that way!

The bad grammar is on purpose! LOL!

The millennial generation are also referred to as echo-boomers. They are the opposite of ourselves. Just as we were the opposite of our parents.

I spoke last week at SXSW Interactive as part of the session called: Personal PowerWorks: Power Your Personal Brand and Career.

This was part of the Social Good Hub Program, learn more at http://sxsw.com/sxgood.

For most of us baby boomers, we would have been more interested in getting stoned and preaching peace when we were the of age of those in the audience. These younger folks are truly interested in creating a better world.

I WAS IMPRESSED!

What I have learned as a baby boomer career blogger is that our children are in control of our future!

The World has Changed

There is an incredible amount of information that is dispensed on Fox News, CNN and MS-NBC that our generation digests everyday. We listen to it and get really upset.

Our Congress is paralyzed because of all of the rhetoric. In my humble opinion, it is ugly!

What I have learned as a baby boomer career blogger is that we need to accept:

  • To teach and inform industry and government that we are not like our parents
  • That we will need to proceed in our careers very differently, and that we are not in control
  • To take the lead from our children

Marc Miller Career Design Specialist

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Re-entering the Workforce – Marketable Skills After 50

Marketable Skills After 50

marketable skillsAre you over 50, re-entering the workforce, and wondering about your marketable skills?

There are those of you who have served as housewives; still others, who raised their children, then raised other people’s children. You may have taken extended time off to care for a parent.

You who have lived great lives but now desire to get busy and get a job outside of the home may feel that you can’t compete in today’s workforce. We will shed light on your dilemma.

Let’s look at 3 recommendations for those re-entering the workforce with few marketable skills after age 50.

People are willing to hire others to attend to the things they no long have the time to do.

Marketable Skills Recommendation #1

Think about your talents, passions, and the things that you want to learn. Think about how your skills fill a need.

Present your talent to those who need it.

Sometimes, you can do this with a business card announcing your services, or with a postcard noting that you have the answer to a problem.

Try asking a needs-based question that your potential client is looking for someone to help them answer.

And don’t think that these jobs can’t lead to a lucrative salary. For example:

  • Home workers are generally excellent at organizing.
  • Event planners, personal shoppers, or home health aides are ideal professions for those with are excited to use those skills sets.

You have lived and have noticed many issues, concerns, and problems in your community, nation and worldwide.

Think about the solutions that you feel would best address any particular problem. For instance, you may have noticed a few businesses that have recently opened in the community. Although they might offer competitive prices for their products, you notice that a few workers are young and lack good customer service.

Marketable Skills Recommendation #2

Offer new businesses your service as a customer service trainer, working to help employees learn great ways to offer excellent customer service. Job creation starts with company’s needs.

Craft a short bio and offer your services to new businesses in town, based on your talents.

Go to the chamber of commerce and grab their members’ directory and start there. You’ll be surprised how many companies would be interested in hiring people for subcontracted assignments based on direct need.

These opportunities do not require that people possess a PhD, but rather, pertinent skills.

For example, accounting firms would welcome a smart, intelligent bookkeeper assistant to help with audits, tabulate clients’ documents during tax season, and help with paper pushing at the end of the fiscal year.

Companies need the obvious:

  • Capitalize on trends
  • Respond to problems in the company
  • Improve on the way things are being done now
  • Use of old things in new ways
  • Increase customer base
  • Expand business
  • Help save or make money

Recommendation #3 Connect with opportunities that will help connect your talents. See Government Senior Citizens Resources (http://www.usa.gov/Topics/Seniors.shtml), Work from home computer customer service jobs (http://www.segroupllc.org/), and Opportunities for online writing jobs (http://bit.ly/1DDCz3C).

Realize that you should not limit your ideas about your talents. They include:

  • Personality
  • Assurances
  • Vision
  • Age
  • Perspective
  • Insight
  • Credibility
  • Skill
  • Information
  • Authenticity
  • Reputation
  • Values
  • Wisdom
  • Research, data
  • Understanding
  • Experience

You have remarkable employ-ability skills that most employers would be glad to have on board.

First, consider only the jobs and career areas that are of interest to you. Next, connect with a professional organization. This affiliation will teach you, help you to earn continuing education credits, and introduce you to like-minded people. Most importantly, they will help connect you to opportunities to work, learn, and give within your industry of choice. 50+ people have a dynamic place in the workplace!

Go find your place!

Debra Ann Matthews, M.A., JCTC is a passionate career coach and resume writer who works with debra ann matthewshundreds of clients throughout her career to achieve their dreams. Her extensive experience includes helping in President Clinton’s AmeriCorps, Up With People, and Job Corps. She loves to help motivated career changers in her business Let Me Write It For You. She’s noted in USAA Military, NBC Chicago, MSN Latino, Monster, Monster Working, Calgary Sun, Money Mix, & Careerbuilder.co.uk. Connect with her on LinkedIn at letmewriteit4u or via FB at www.facebook.com/letmewriteit4u.

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Check out the BoomerJobTips Page for the latest curated content relating to baby boomers or join us on the BoomerJobTips LinkedIn Group

Work to Live OR Live to Work Transition

Work to Live or Live to Work?

work-liveMost baby boomers work to live.

I know when I started my career, I sure did!

I was raised to be an employee who was supposed to go to work for a father-like corporation that would take care of me until I retired!

Do not get me wrong—I often enjoyed my work. The further I progressed in my career, I found increasingly better positions that suited my talents and skills.

I still went to work to get that paycheck. Oh, that regular paycheck that paid the bills, put food on the table, paid the mortgage, saved for our son’s college education, and planned for retirement.

The goal was to get that paycheck.

(More: Demise of the Paycheck – Good Riddance)

Live to Work

Some of you are blessed to have a talent that permits you to live to work.

Many of us have a talent like that, but do not recognize it.

In 2002, I had a bicycle accident that shook my belief system to the core. I hit a car head on, where speeds exceeded 50 miles per hour.

I lived!

From that point on, I have been working on the live to work thing.

I taught high school math at an inner city high school. I was amazingly successful, but could not teach and stay healthy at the same time.

I did a year of non-profit fund raising, but could not tolerate the dysfunctional organizational behaviors of non-profits.

I started Career Pivot in 2011, and I can truly say I live to work.

It was only then that I realized I had talents that would allow me to live to work.

(More: Talents Versus Skills – Do You Know the Difference?)

The Great Recession

The great recession has shaken quite a few people in our generation. Many would now even enjoy getting to a place where they could work to live.

Prior to the great recession, there were organizations like Encore.org all set to leverage the urge to transition from work to live to live to work. The idea was that, when we retired, we would want to give back.

With 69% of us worried that we will run out of money in retirement, giving back is not in the forefront of our thoughts!

Work to Live — Live to Work Transition

Most of us will work until we no longer can. My plan is to never retire, but work fewer hours at something I enjoy.

The great recession and the fundamental shift in our economy has changed almost all of our retirement plans.

Are you planning on a Work to Live — Live to Work transition?

Are you just hoping to be able to continue to Work to Live?

Marc Miller Career Design Specialist

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Check out the BoomerJobTips Page for the latest curated content relating to baby boomers or join us on the BoomerJobTips LinkedIn Group

8 Best Baby Boomer Career Websites

Best Baby Boomer Career Websites

Career WebsitesGood career websites that focus on baby boomers are few and far between. Recently, Hannah Morgan, The Career Sherpa, published her list of the Best Job Search Websites 2015.

Of course, Career Pivot made the list in the over 50 category. There was only one other website in that category, Kerry Hannon’s website. Kerry regularly writes for Forbes, AARP, and PBS Next Avenue.

When Career Pivot made the Forbes 2013 Top Career Website list, I wrote a post where I dissected the list, and was very disappointed—there were only three career websites that focused on baby boomers.

career websites

Last week, Career Pivot also made the list of Top 100 Software Developer Blogs for 2015.

Let me give you my top 8 baby boomer career website list!

Top 8 Baby Boomer Career Websites

1 – Career Pivot

Okay, I am being self serving, but Career Pivot is the only website that has made just about every list.

2 – Next Avenue

NextAvenue.org is owned by PBS. This website was launched in 2012 to serve the baby boomer community exclusively. It focuses on many issues that baby boomers are facing, not just career-related.

3 – Life Reimagined

Life Reimagined was launched by AARP starting in 2012 and relaunched in 2014. AARP is very late to the career market, but is making a good effort to address the needs of the baby boomer community.

4 – Kerry Hannon

KerryHannon.com is a place where you will find all of Kerry’s materials. Kerry writes for Forbes, AARP, and PBS Next Avenue. You might say that Kerry is a pioneer in this field.

 5 – My Lifestyle Career

MyLifeStyleCareer.com is a creation of Nancy Collamer. Nancy is the author of Second-Act Careers: 50+ Ways to Profit from Your Passions During Semi-Retirement. What I love about Nancy’s book is that it lays your possibilities out in bite size chunks that are easily digestible. Her blog is full of great ideas.

6 – Encore.org

Encore.org was created prior to the onset of the Great Recession. Their mission statement says it all:

Encore.org is building a movement to tap the skills and experience of those in midlife and beyond to improve communities and the world.

7 – 40PlusCareerGuru

40PlusCareerGuru.blogspot.com is the creation of my dear friend Neil Patrick. Neil is like most of you. He was part of a redundancy (he is from the UK, so I need to use the funny language they use), and now works for himself. Neil started his blog in order to brand himself, and he has done a fabulous job.

8 – John Tarnoff – Boomer Reinvention

 JohnTarnoff.com is the creation of John Tarnoff! Specifically, you will want to check out John’s blog.

A career development coach, speaker, university educator and former media/entertainment executive, John Tarnoff focuses on personal and professional transformation across generations – reintegrating the Boomer Generation workforce into the rapidly evolving 21st century workplace, and developing programs, opportunities and curriculum to support new generations of leaders and entrepreneurs.

Why not the top 10?

My intention was to give you a top 10 list, but I could not find 10 well established websites!

Let me point to two other websites that are either new or under new ownership

ItsAllAboutMe.Today – Midlife Enpowerment

ItsAllAboutMe.Today – This is a brand new website that was developed by another friend Hugh Taylor. Check it out.

Boomers Next Step

BoomersNextStep.com – Jenni Proctor bought this domain and has re-launched it. Check it out.

Am I missing something? If so, comment below and tell me about any other Baby Boomer Career Websites you think are valuable.

Marc Miller Career Design Specialist

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Repurpose Your Career: A Practical Guide for Baby Boomers

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You can also download my latest white paperThe Multi-Generational WorkplaceMaking Generational Diversity Work

Check out the BoomerJobTips Page for the latest curated content relating to baby boomers or join us on the BoomerJobTips LinkedIn Group

Twitter – 4 Reasons Baby Boomers Should Care

Baby Boomers and Twitter

twitterI know you are thinking, “Why should I be on Twitter?” You see all those hashtags #whattheheckarethesethings when you watch just about any news program or sports event on television.

I am going to give you four reasons to get on Twitter to help manage your career!

Staying Current

In 2013, I turned on my television set moments after Asiana flight 214 crashed in San Francisco. I went to Twitter and searched for information on the crash at SFO airport. I immediately found pictures that were taken moments before from the crash site.

Most news channels get breaking news from Twitter.

If you want to be current on technology, the companies on your target list, or advances within your industry, you really need to be on Twitter.

Communicating

Have you tried to communicate via e-mail with a hiring manager or recruiter and not gotten a response? One of the best ways to get someone’s attention is to mention them in a tweet on Twitter.  Will Thomson, a recruiter I mentor, wrote the following in his post on How to Impress a Recruiter:

As a candidate, you have to recognize what recruiters are doing and saying. I had Matt Arch  send me a note on Twitter the other day that blew me away. Why did he intrigue me? He first went to LinkedIn and researched my profile. He found that I was in Austin and I recruited Sales and Marketing individuals. He then found my twitter handle on Linkedin. Once he found my twitter handle, he sent me a note saying he was looking to relocate to Austin and sent me a hyperlink to his resume.

If you want to get someone’s attention, send them a tweet with a link to your LinkedIn profile or resume.

If I want to get someone’s attention quickly, I will send them a tweet. If they have Twitter on their smart phone, it will immediately inform them of my tweet. There is no better way to get a rapid response!

If you tweet @careerpivot , it will come up on my iPhone and I will respond!

Have you heard of a Tweetchat or Twitter Chat? I wrote previously about these events in my post – Baby Boomers and Twitter? – How about a Twitter chat! It is safe!

Think of these as community events on Twitter—similar to a chat room. I attend two of these events (#blogchat and #linkedinchat) just about every week.

I can say that I have developed some very good professional relationships with members of these groups though I have never met any of them face to face.

There are a number of websites that list a schedule of Twitter chats. Check out TweetReports.com’s list.

Show That You Are Tech Savvy

I hear it all the time, baby boomers cannot keep up with all of the new technology. If you want to dispel this myth, then start using Twitter.

Are you going to embrace Twitter?

Marc Miller Career Design Specialist

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The Demise of the Paycheck – Good Riddance

Demise of the Paycheck

paycheck

My Last Paycheck

Paycheck…where is that dang paycheck? Oh, I did not get one in 2014. That’s right. I have not had a paycheck since 2011.

Because it is January, I started to gather my papers together to do my income taxes. I paid my property taxes today. I made sure to file my quarterly estimated taxes. What was missing is the W-2 statement I used to get from an employer.

It still feels strange not getting a paycheck!

I was raised to be an employee and to work for a father-like company that would take care of me.

Does this seem familiar?

For most baby boomers, we were encouraged to take the safe path, to work for a solid company and get a regular paycheck.

When I started to work for IBM in 1978, I got paid weekly. Every Monday, my paycheck was deposited into my credit union account like clockwork. It was always there! There was security in knowing that there was a steady flow of money coming in.

They Moved My Cheese!

In 1993, IBM went through its near bankruptcy. I watched as many of my older colleagues were walked to the door. They got big severance packages, but the security of the paycheck was gone.

In 1999, IBM made their first attempts to eliminate the pension plan. I started to realize that the concept of job security and a secure paycheck are an illusion.

They moved my cheese!

At that point, I decided it was time to move on. I left IBM in January of 2000 to go to a semi-conductor startup, Agere, Inc.

It was freeing to leave that father-like company—a company that was no more. I left on my terms. I still had a paycheck, but this one was not nearly as secure.

Dot Com Bust

Then came the dot com bust. I watched as many of my former colleagues were laid off from IBM, as well as other large companies.

I hung on to the concept that I needed to stay employed.

In July of 2002, I had a moment of clarity when I endured a near fatal bicycle accident.

I considered starting my own consulting practice, but I could not get health insurance for my wife. I clung to the concept that I needed to stay employed and get a paycheck. I made a couple of career pivots to teach high school math and work for a non-profit. In both, I had a paycheck and health insurance.

The Great Recession

In December of 2007, I took another position with a tech startup called LifeSize. Once again, I watched as so many friends were ejected and lost their steady paycheck.

In 2009, in the depth of the great recession, I started to explore the concept of starting a business, which is now called Career Pivot. I spent over 18 months in my exploration phase. I really liked that steady paycheck!

Sometimes, we have to get hit on the head a few times before we take action. It was late in 2010 when I was put in a highly unethical position at work. It was then that I had enough!

No Paycheck or W-2

It has been four years since I received my last paycheck. Once again, I will not get a W-2 this year. It has been scary at times. We live on less. In fact, we live on a lot less…but we are happier!

Due to the Affordable Care Act (ACA), I can get health insurance for my wife. It is expensive, but at least I can get it. By the way, I think ACA is a great thing for baby boomers who want to ditch the paycheck. I am all for disconnecting health insurance from the workplace, but that is a whole different topic!

It is liberating not depending on my employer for a paycheck!

In fact, there are many predictions that say over half of us will be contractors or freelancers by 2020.

Are you willing to ditch the paycheck?

Paycheck?  Good Riddance!

Marc Miller Career Design Specialist

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Repurpose Your Career: A Practical Guide for Baby Boomers

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Check out the BoomerJobTips Page for the latest curated content relating to baby boomers or join us on the BoomerJobTips LinkedIn Group

Should You Have a Mortgage in Retirement? – Guest Post

mortgageShould You Have a Mortgage in Retirement?

Conventional wisdom says to pay off your mortgage by the time you reach financial independence. Why is that not always the best approach?

It seems to make sense – a mortgage paid off before retirement reduces your monthly expenses and reduces the amount of debt you hold. So common is this desire that Wikipedia has an entry on mortgage burning. When then must you carefully evaluate whether this approach works for you?

The decision involves more than math. Possessing a high confidence that you will earn more (after-tax) on your money than you pay in mortgage interest indicates you should keep the mortgage. Yet that ignores the psychological benefit you get from a paid-in-full home. And if you have a high aversion to debt, would you prefer to be mathematically correct or to sleep well?

You should not ignore other financial goals. After paying off the mortgage, can you still deal with unexpected expenses, health care needs, home renovations, or helping out family members? Do you still have high interest rate credit card debt that should be paid off? Do you feel comfortable with the size of your retirement nest egg or should you direct funds there instead?

Gauge your feelings toward alternative approaches. Some clients view their mortgage as paid off as long as they have the assets available to pay it off at any time. Some would consider the more consumer-friendly reverse mortgage. You may even have the ability to shore up other weaknesses in your financial picture while reducing the debt on the home.

To learn more, check out these recent articles:

This decision is not easy. Various economic, psychological, and outside factors all play a role in the right decision for you. Consider seeking out guidance from a qualified financial adviser to avoid missing out on creative solutions to this challenge!

Think about your own situation. Is a mortgage in retirement a burden or a liberating opportunity to use those assets elsewhere?

Biography

EllioElliott Weirtt Weir, MBA, CFP® has been working with families to help them navigate retirement since 2004. He started III Financial in 2012 to focus on helping address the financial realities faced by people over age 50, without the sale of products or the large asset fees of money managers. He is also the editor for the Society of Financial Service Professionals “Retirement Counseling” newsletter.

Elliott earned his MBA in 2002 through the McCombs School of Business (University of Texas at Austin). He enjoys watching the US National soccer team, tinkering with technology alongside his son Travis, keeping up with his son Tyler, and going to see movies with his wife of 17 years, Carrie.

For more, please read his full bio.

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Unretirement by Chris Farrell – Book Review

Unretirement – How Baby Boomer Are Changing The Way We Think About Work, Community and the Good Life

unretirementUnretirement: How Baby Boomers are Changing the Way We Think About Work, Community, and the Good Life by Chris Farrell, was released in early September of 2014.  Chris Farrell is economics editor of Marketplace Money, a nationally syndicated one-hour weekly personal finance show produced by American Public Media.

The concept of retirement is a relatively new one. In the United States, it first was mentioned in 1935 when Social Security was created. It then became a really viable concept in the 1950s, when Florida and Arizona were being developed. Affordable housing and warm weather attracted thousands to live there in their golden years.

Chris Farrell writes in Unretirement that, for many baby boomers, the concept of retirement will be replaced by unretirement. It is the concept that, if we want to live longer, happier, and more prosperous lives, we need to work past the traditional retirement age of 65.

It should come as no surprise to most baby boomers that 80% or more of us will not retire as planned. This is where the concept of unretirement comes into play.

Chris Farrell writes:

The last third of life is being reimagined and reinvented into “unretirement.” If the popular images of retirement are the golf course and the RV, the defining institutions of unretirement are the workplace and the entrepreneurial start-up. The unretirement movement builds on the insight that a better-educated, healthier work force can continue to earn well into the traditional retirement years.

The author hypothesizes that, if baby boomers delay retirement to 70 years of age, most baby boomers will have a secure retirement.

Here is the challenge, will baby boomers be able to find adequate paying jobs to be able to work till 70 years of age. I wrote in my previous The State of Baby Boomers in America that in many baby boomers are retiring early because either they cannot find work or unable to work due to health issues.

The author states:

Employer stereotypes that view older workers as lacking creativity won’t hold up to scrutiny. The prejudice that older workers aren’t productive will be proven false. The competition for talented employees will push managers to abandon long-held hiring hurdles against aging workers. Seniors will recharge the nation’s entrepreneurial energy.

What do you think?

Baby boomers have redefined society to match their needs and wants. The author states that baby boomers will redefine the concept of retirement to create unretirement.

Career Pivot Sponsor for the Month of November 2014

Career Pivot Sponsor for the Month of November 2014

This will likely mean that most will work at both traditional and non-traditional jobs well after the age of 65. We will not necessarily work in the same industry or use the same skill sets, but will reinvent the concept of retirement to live longer and happier lives…because we continue to work.

I thoroughly enjoyed this book and agree with most everything the author hypothesizes. It paints a rosy picture going forward that looks very different from what we planned or assumed just ten years ago.

Marc Miller Career Design Specialist

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Please check out this months sponsor III Financial

and their guest post

Why Save For Retirement If You Don’t Plan On Retiring

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Like what you just read? Share it with your friends using the buttons below?

Subscribe

When you subscribe to this blog you get full access to Career Pivot’s Whitepaper Library

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Check out my book which is available on Amazon.com!

Repurpose Your Career: A Practical Guide for Baby Boomers

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You can also download my whitepaper “Don’t Retire Even If you Can and What to do Instead – A Baby Boomer Manifesto

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