Older workers face far longer periods of unemployment, McCann says. “Many fall into the category of discouraged workers. Some just give up. For those who do find re-employment, it’s often for far less money than they were making.”
I would guess that further studies will only support the evidence for creative living and optimal aging – the two innately belong together…
Research shows that there’s a positive impact on older people who create art: they’re healthier, they’re happier, they’re more likely to stay mentally sharp. Scientists say that more studies are needed, but Buster Sussman, 86, seems to be living confirmation of the studies done so far.
More grim (but well written) news about the American retirement scene…
One thing is clear to me: We’re on our own to secure our futures. Don’t look to the government or employers to do anything more than they’re already doing to solve our retirement problems. My conclusion isn’t based on any ideology. I’m just observing the reality of the world we live in today.
Boomers 50 and older estimated the future annual cost to be nearly $79,000. However, using data from a 2010 article from Life and Health Advisor, Nationwide found the cost of a nursing home could rise to $265,000 per year by 2030.
The idea of “no-placeness”
The baby boomers’ retirement will be much different from earlier generations; nothing new there However, a different perspective is on the temporariness of their lifestyles It seems that nothing is permanent any more. David Houle has referred to this as “no-placeness” The baby boomers have led very mobile lives. They have changed careers more often than their parents They have changed homes and even marriages more so than earlier generations They are ripe for the no-placeness movement Lives that plug-in and plug-out quite easily to fit the current needs of the individual
I agree – something that captures the core issues of retirement: “What one expects from retirement is different for everyone because we are unique creatures. Yet all of us must realise that we are on a journey, from the moment we are born until the day we die. The final stage in our lives should be treated like all the other episodes in our brief existence – as an adventure filled with discovery, joy, wonder, sorrow and bliss.”
This article gets closer to the reality that the new retirement is a highly individual and creative process of making fundamental adjustments in life in response to aging. It also reminds us the “the boomers” are not a single coherent group that act in a coordinated manner:
Boomers don’t speak with one voice when it comes to retirement. Although about four in 10 admit that they can’t wait to retire, just as many say they won’t ever want to stop working. Even more expect to work in retirement. The media, policy analysts and worker advocates have zeroed in on the would-be workers: Boomers, they suggest, will be the new face of retirement; they will do things their way — combining spells of work and leisure in creative ways later in life, forging second or third careers, becoming senior entrepreneurs, even working to very advanced ages.
Many boomers will do some or all of these things, as even older workers are doing now. But boomers will also retire — often early — despite assertions to the contrary. In fact, they are doing that already. True, retirement-age boomers are more likely to be in the labor force today than their counterparts of a generation ago, thanks largely to women’s rising labor force participation, but those who remain at work at age 65 are still in the minority.