Guilty?

I was reading about retirement the other day. Could mean I’ve been thinking about it. Although now that I’ve read what some people say about retiring, it’s tweaked my contrarian side. One particular writer advised that by retiring, I would be giving a younger person an opportunity to take on more responsibility. Okay, that’s fine by me. They continued by adding that the younger person would get a promotion and make more money. That’s fine as well. Therefore, she/he concluded, retirement is really an act of generosity, so don’t feel guilty about it.

What the hell did he/she just say? Don’t feel guilty about retiring? Nuts to that. Guilt is the last thing I would feel on the way out the door. I’ve been working since I was 12 years old. Helping out in Dad’s business, working summers to pay for college, working in several careers and then co-founding a business that’s about to start its 35^th year.

I get that there will be a period of adjustment when the time comes. That’s why I’ve decided to ease out the door by remaining a consultant for a few years. But the pressure to start the day by checking client emails and formulating a work plan will be over. No more reacting to weekend work requests. It will be more about what I want to do that day and having a more relaxed attitude about what needs to get done versus what I’d like to do. The weekdays should melt into the weekend, so that eventually, I hope, I can’t tell the difference.

My Type A personality is not going to give way overnight, but I’m hoping some Type B traits will leach in somehow. At the very least, I’m hoping to have fewer and less frequent To Do lists. Then again, if you have a lot of free time on your hands, a To Do list might be just the ticket.

Guilt? I don’t think so. Paid my dues, put in my time. Soon, most of the time will be mine.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept. His mystery novel, Head Above Water, is available on Amazon and Kindle. You can also visit his author page here.

 

I

Surprise!

So much has been written about the impact of baby boomers exiting the labor force, it seems incomprehensible that employers would not be ready and have strategies in place to respond to this major change.

Guess again. It appears that the departure of boomers is taking employers by surprise. All the sudden, companies are realizing the challenge of replacing the knowledge and skills that boomers will be taking with them when they head for the exits.

Why am I not surprised by their surprise? When your generation has been the 800 pound gorilla/punching bag (demographically speaking) for so long, nothing surprises when it comes to the wild and crazy assumptions that society has thrown at us. We’re spoiled and self-centered. We caused global warming. We’re responsible for every economic bubble burst. We’ve run up the deficit. We’re sabotaging our children’s future. We’re sociopaths. And the topper – we’re going to drain the social security fund dry.

Feels like a communal “don’t let the door hit your ass on the way out” kind of moment we’re in right now. However, employers readily admit that in the next five years they will face a significant challenge due to boomer retirements. Now they are starting to worry more about the skills loss than the fact that boomers might be blocking the advancement of younger workers. Some employers are offering phased-in retirement options in order to avoid the inevitable “brain drain.” According to a study by the Transamerica Center for Retirement Studies, 70% of the employers thought their workplace was aging-friendly but only half the workers thought that was accurate.

It’s hard to quantify what employers are losing when boomers begin leaving the workplace in large numbers because you can’t easily measure the value of their institutional knowledge and history. Add to that the fact that organizations don’t know when their older workers will want to retire. It used to be age 65 but now it’s trending closer to age 70.

Better late than never, the hope now is that organizations come up with a strategy to hold on to older workers or at least offer flexible work schedules that might keep some boomers on the job and passing along what they know.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, Head Above Water which can be purchased on Amazon here. You can also visit his author page here.

Flight of the Boomers

When people move to a new state it’s typically for a new job. But baby boomers are retiring and they don’t care about jobs (unless they have to work forever, but we’ll come back to that). So where are boomers moving? That’s the question that United Van Lines asks every year, and this year baby boomers are confounding the typical migration pattern.

Southern states and Florida used to be the go to retirement venues, but now the mountain states and the Pacific northwest are bucking the trend. Go West ye boomers! Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming are seeing a 55% uptick to in-bound migration. Fifty-two percent of the movement in the Pacific northwest was in-bound.

So if boomers are not heading for Florida, where are they going? In order, here’s the top ten list of states: Vermont, Oregon, Idaho, Nevada, South Dakota, Washington, South Carolina, North Carolina, Colorado and Alabama.

And where are they moving from? New Jersey, New York, Connecticut and Massachusetts top the list. It’s interesting to note however, that the largest exodus due to finding jobs elsewhere was the South. The number one reason to move is still for a new job, followed by one in five families who chose to move in 2017 to be closer to family. In third spot was retirement.

And for those looking to retire, the top ten destinations were: Florida, Nevada, South Carolina, Arizona, Maine, Vermont, Wyoming, Delaware, Arkansas, and New Mexico.

More fun facts: The average person moves 5 times in their lifetime. It takes on average 182 days before you unpack the last box from the move.

Now to get back to who is not moving. There is no flight for boomers who find themselves still on the job, not by choice but of necessity. There’s no escape to a warm clime for those who are holding on to the same job in order to try and save enough for a decent retirement. Sorry to end on that sad note, but we need to recognize that many of our fellow boomers won’t be counted in next year’s United Van Lines survey, or the year after that. No flight. More like fight. To survive in retirement on Social Security alone. The big reckoning is coming for them and for all of us who will need to help them age in place with some dignity.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, Head Above Water which can be purchased on Amazon here. You can also visit his author page here.

Reinventioners?

Ha! Boomers are supposed to be reinvention experts. Why? Because instead of riding off into the golden years sunset, we continue to work, start new business ventures or change careers. Somehow that makes us experts?

Not buying it. Just like millennials who are struggling to deal with the cards they’ve been dealt, baby boomers too are adjusting to the reality of their situation. If the company you work for wants you to retire but you still need the income, you become a teacher. Or start that business you always dreamed of owning. Or drive a school bus. Or become a big box store greeter.

Boomers are not so much reinventing themselves as they are recalibrating their expectations of what the aging experience is going to be for them. The percentage of people 55 and older in the workforce back in 1993 was 29%. Fast forward to 2013 and that number has jumped to more than 40%. Sure, the big wave of the oldest boomers has a lot to do with that increase, but changing attitudes towards retirement may be an even bigger factor.

The whole gold watch send-off seems so anachronistic now, and it might have something to do with the changing attitudes toward work itself. The parents of baby boomers may have felt like they were marking time until the day that they could quit and hit the shuffleboard courts. Work wasn’t their passion as much as it was a means to an end. I’m generalizing (as always), but most boomers enjoyed their careers and liked the idea that they were really good at it or that they made a valuable contribution. You don’t just shut that off one day and hang up your toolbelt.

I like to think that what boomers are going to do in the years ahead is redefine rather reinvent. And that makes sense when you think about it, because baby boomers have been redefining things since the day we came into the world. Education, music, art, communication, politics, you name it --- there is no field or endeavor that has not felt the effect of the baby boomer revolution. We were – we are – products of our time. The prosperous years after WWII afforded us the opportunity to make a unique mark on society, so it should be no surprise that we continue to exhibit that behavior. Just don’t make us out to be reinvention experts. We’re just reacting to the times the same way we always have.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Social Media Won't Save Us But the Longevity Economy Might

If you thought tech start-ups have nothing to do with your life or your future, think again. Silicon Valley just might be making the lives of aging baby boomers a whole lot more comfortable (or bearable) than we thought.

There’s gold in them thar hills. Only the hills is us, and it’s beginning to look like some very smart entrepreneurs are recognizing that the silver tsunami could mean gold for them, and greater comfort for us. Health and wellness technology is creating what’s been coined as the “longevity economy” and we should probably jump on the train as investors as well as beneficiaries.

Silver Tech is another name for it, but whatever you call it, competition and profit are going to drive tech companies to make products that allow us to live longer in our own homes and independently. From wearable fitness devices to treadmill desks, new products are coming on line every day. Then there’s the video link-ups that let you talk to a real doctor from your computer (without putting on one of those funny gowns!). Or the geolocation devices that will help find dementia patients. There’s even an airbag device that can be worn around the waist and it deploys when the wearer falls over, preventing the dreaded broken hip accident that often becomes the beginning of the end for elderly patients.

There’s a treadmill desk for those of us still working (although I have visions of becoming distracted by an incoming email and then thrown against the wall) and a raft of new health apps to put on your smart phone and/or strap to your wrist. These gadgets will monitor our heart rate, measure our steps, time our workouts, even tell us when we fell asleep. It’s not too hard to imagine a time when it will tell us when to eat, what to eat, and when to poop. That last alert could be really helpful when dementia sets in.

Perhaps the most telling sentiment about aging among babyboomers is not the fear of death itself, but the fear of having a crummy, dehumanizing assisted living experience. When you’re dead and gone, you’re….well…dead and gone. But to exist as just one more helpless geezer, that’s what all of hope to avoid. If high-tech tools and gadgets will prevent that end, sign me up.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Worker Bees

My Sweet Irreplaceable You

Final score….73 to 48. That’s 73 million baby boomers and 48 million GenXers. If all the baby boomers left the labor market at the same time, the American economy could not sustain itself.

Wow! Makes you want to quit tomorrow if it weren’t for the negative consequences. But seriously, this is serious. It’s not a question of experience or competence, it’s just plain arithmetic. As large numbers of boomers leave the workforce, there are not enough employees to take their place.

Employers may have to reach down to the farm team level to tap Gen Yers (born between 1980 and 2000), but there’s a big concern about whether they are ready and whether their work culture will clash big time with the remaining boomers.

While boomers are typically obsessed with their work, Gen Yers generally seek a greater balance between work and life interests. Often characterized as high performance and high maintenance, they lack the experience of even Gen Xers. Bottom line, the Yers will have a tough time filling the shoes of the more seasoned baby boomers.

Experts are telling employers that the next 10 years could be a very rocky road if they are unable to hold onto the talent they already have. The successful businesses will find a way to keep employees engaged and committed to the company’s goals, but after years of downsizing and merger-acquisition frenzies, that’s easier said than done. Plus, the burgeoning start-ups are looking to poach the Gen Xer talent from more established businesses, making the remaining baby boomers even more valuable workers.

Articles about boomers staying on the job well past conventional retirement age are now a weekly staple. Just recently I read about an 81 year-old bartender and an 82 year-old waiter working at the same restaurant. They didn’t want to sit around at home and get fat and they liked coming to work, even if it was only part-time. Youthful workers at the other end of the spectrum just don’t see it that way, and if you think that’s not your problem, remember, we need them to cover our social security benefits.

In any case, I’m beginning to feel a little bit like Sally Field when she accepted her Oscar. “You like me. You really like me.”

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

How About Never? Is Never Good for You?

Nearly half of all baby boomers say they don’t expect to retire until age 66, or even later. But the stat that got my attention was that 1 in 10 say they will never retire. NEVER. You hear me, I’m NEVER going to retire. Going from the desk or wherever right to the grave.

Is it just about the money, or is something else going on here? No question, many boomers feel like they must keep working to boost their retirement income, but other boomers just want to stay engaged with the world and that means staying on the job. I get that. Most retirees that I know are treating retirement like a job. They have lists of things to do, projects to get done, and places to go. Not much golfing or shuffleboarding there, unlike their parents. The whole notion of what to do in retirement has been turned upside down.

And if I read one more article about how boomers can start their own business to work from home (or even while they travel the world!!), I’ll shoot myself. They make it sound so easy. Pick a skill or a service and off you go. It’s NOT that easy and that’s why smart boomers who can stay on the job are doing just that.

Will employers and customers recognize the value of baby boomer experience and talent? That’s the big question. Younger workers have much to offer with their enthusiasm and technical knowledge, but the maturity and wisdom of a highly engaged boomer who’s truly motivated to stay on the job should make them just as valuable, if not more so.

Bottom line, we’re going to try to keep our jobs, so employers, clients and customers might as well capitalize on what we’re offering. Putting workers out to pasture at age 60 or 62 is so old school. The world doesn’t work that way anymore and the news stories about aged 60+ individuals achieving fame for late-life achievements just goes to prove that there are many attractive options to retirement.

It’s time for us all to get used to seeing aged 70+ workers still pulling their weight and making a valuable contribution in the workplace. And don’t be surprised when you ask them when they’re going to retire, they are still insisting on NEVER.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

We’re Not Stealing Your Stinkin’ Jobs After All

So once again, conventional wisdom bites the dust. Word on the street (Wall Street, Main Street, take your pick) was that baby boomers who wouldn’t retire were stealing jobs from younger workers. Just because our savings tanked and we’ve been supporting our parents AND offspring, that didn’t mean they couldn’t accuse us of being mean old job stealers. That’s what we all get for living longer.

Then along comes the Center for Retirement Research, which has been looking at 1977-2011 data from the Current Population Survey. The study looked specifically at the speculation that younger workers were facing a millennial glass ceiling because those darn boomers wouldn’t get out of the way.

Surprise, surprise. It turns out that boomers staying on the job actually helps younger workers get more jobs, and better paying jobs. The more older workers who remain on the job, the more they spend, especially on new products and services. Somebody is buying those telephones with the jumbo numbers on them! The phenomenon is comparable to the way in which immigrants in the workforce spur economic growth without displacing job opportunities for native-born workers.

This study doesn’t address the mentoring element in the whole equation, but it’s worth noting that other studies and anecdotal experiences demonstrate that boomers are helping millennials assume the reins by sharing their knowledge (or gray matter as I like to call it).

So it looks like boomers are a boon to millennials, not a bust. Not only are we generating new employment opportunities for them, we’re also willingly transferring our skills and knowledge so that they will most likely leapfrog over us in the organizational hierarchy. And what do we want in return? Nothing. Well, nothing but allowing us to stay on the job a little longer – long enough to try to boost our savings for retirement. And even that is a plus for millennials. The more boomers can save now, the less millennials will have to subsidize us out of their pockets.

You don’t want your parents hanging around highway exit ramps with signs that say “Will work for food. Millennials took my job away.” Of course not. So cut us a break and let us die on the job or at a desk, because that still looks like the upside from here.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Mo’ Babies Please

Much like the one word advice the young Benjamin Braddock receives in the film The Graduate, the most important advice of our time comes down to one word, and it’s not plastics, but it does begin with a “P.” And that word is procreate.

That’s right, we’re counting on Millenials to produce lots of kids. Lots and lots. Population growth means new entrants to labor force, but more importantly, they create demand….for clothes, cars, homes and gobs of consumer goods. And growing demand means an expanding labor force. You do see where this is going, yes? New jobs are good for the economy, most certainly. But new jobs means more folks paying social security taxes and that means baby boomers can collect their social security checks.

If you want continuing support in your twilight years, you need to be cheering on these millenials to have more babies. Perhaps we should volunteer to baby sit their existing broods while they go out for date nights. Maybe we can sign them up (anonymously, of course) for porn pay-per-view. We can lobby for higher tax credits for dependent children. Whatever it takes, we need to get these millenials in the mood for love.

There was a time in our history as a nation, when families were much larger than the nuclear family average of 2.5 children (don’t get me started on the .5 kid). Large families meant free labor on the farm, with every child helping to raise crops and livestock. Think of all the advantages of returning to this family model. The home building industry would benefit from new demand for 6 or 7 bedroom houses. Automakers would retool for 10-passenger vans and station wagons. The garment industry could literally begin to offer shirts, pants and dresses that are cheaper by the dozen. We would need bigger schools and more teachers.

Stop me now if you can’t see the upside of this new baby boom. The only loser in this new paradigm might be makers of birth control products. So my advice to you is start right now, today, to encourage the millenials in your family or social circle to get cracking on making those babies. Our whole future could depend on the actions we take today.

Two, four, six, eight, who do we want to procreate!

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

The 65+ Club

Remember when you thought age 65 is when the fun begins? Well, maybe fun is the wrong word. Remember when most baby boomers thought age 65 is when they would retire? Seems like it was just yesterday but it was more like 10 or 15 years ago.

Things have changed (thanks to Bob Dylan for that line). And the more things change, the more we all need to adapt. We’re living longer for starters, and that makes it less practical to stop working at age 65. If we’re going to live well into our nineties we need to keep working to pay for that extra time. Plus, all the research indicates that the longer we stay mentally and physically engaged, the healthier we’ll be in both mind and body.

Whether it’s because we can’t afford to retire or we just want to stay engaged with our work, it has become an accepted fact that age 65 is no longer the cutoff point. Baby boomers seem to have readily adjusted to this fact of life, but what about the rest of society?

Employers are recognizing the advantages and disadvantages of older workers. We have experience but maybe are not as open to new ideas and methods. You don’t have to pay as much, but our healthcare costs are higher. Working for younger managers can older be challenging, but boomers are proving resilient when it comes to keeping up with technology and adapting to new ideas. Boomers are less about reaching the top of the heap and more about contributing something useful to the team, and that’s a good thing for any organization.

In the end, I think baby boomers will just be grateful if they can continue to be paid a decent wage for being a productive worker who still has skills and experience that are valued by their employers. We’re all going to have to make adjustments to accommodate the changes brought on by longer lifespans. Someday, today’s 30 and 40-year old managers will be facing the same issue. By that time, it may be common for people to live into their one-hundreds, and the accepted age for retirement might be 75. What goes around, comes around, so my advice to younger managers is be kind to your boomer employees, and one day some young boss will be kind to you.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Show Me the Money

Why can’t baby boomers put away more money for their retirement? We know we’re going to need more than social security to live on, so what’s the problem? Besides losing a pantload of money when the market tanked, a slow recovery, and maybe losing your job, I mean what’s your excuse?

The conventional wisdom (sidebar: when did wisdom get conventional?) has it that boomers have selfishly squandered their money on or fancy cars, but that may be just one more myth among the many when it comes to baby boomers.

The National Center for Policy Analysis recently reported on how spending habits have changed over the decades. So guess in what areas boomers are spending more than prior generations. Let’s start with education: costs have increased 80% for 45 to 54 year-olds and 22% for 55 to 64 year-olds. Then there’s the continuing costs of supporting adult children. Remember when you got out of high school or college and then got a job? It has not worked out that way for a lot of the boomer offspring. About half of all boomers are still providing some financial support to their kids. Next up: housing costs have risen 25% from 20 years ago. And don’t forget healthcare costs: medical care and premiums have skyrocketed in 2 decades.

If all these factors are not enough to convince you that boomers have not been playing the profligates, consider how stagnant our earnings have been. Real median income in 1990 for 55 to 64 year-olds was $52,340. It peaked in 2007 at $60,345 and had fallen to $56,575 by 2010. I don’t want to know what it is in 2012, because it cannot have gotten any better.

So let’s review: everything is costing more but you’re making less. So how do we try to close that gap? We spend less on clothing, less on dining out, and less on transportation (there’s some very old cars out there). The experts advise us to focus on the spending categories that we can control but that seems difficult when it appears the cost of living is out of our control.

But let’s end on an upbeat note. Eventually your kids are going to have jobs and homes, and when they do, you can stake a claim on one of the bedrooms and live off their largesse for a while. No kids? It’s not too late to adopt.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Hi Ho, Hi Ho

It’s off to work we go.

And the rest of the song lyrics?

We dig, dig, dig, dig, dig dig, dig, dig In our mine the whole day through To dig, dig, dig, dig, dig dig, dig, dig It’s what we like to do It ain’t no trick To get rich quick If you dig, dig, dig With a shovel or a stick dwarf miners

And boomers continue to dig – well past age 65. In fact, the percentage of baby boomers working past the traditional retirement age of 65 is now at a record high, and we all know why. They can’t afford to retire.

It’s not some dream retirement scheme that’s keeping them in the labor market. It’s way more complicated than that. Boomers are still working to compensate for the hit they took when the market tanked. They are still working because they are supporting offspring who have returned to the nest. They are still working because they realized they don’t have enough savings to cover life spans that are projected to last longer than ever. And many boomers are still working simply because the alternative lay-about lifestyle is an anathema to them.

If you thought you were going to die in your eighties, you might as well pack it in at age 65 and have Grumpy15 years to travel/golf/fish/knit/whatever. But if most of us are going to live well into our nineties, that’s 25 years to fill, or a hell of a lot of bogeys/fish/scarves. And even that assumes we will have the mobility for any of these activities when we’re in our nineties.

For many boomers, working is a habit that’s hard to break. Unlike our parents, perhaps, boomers are often defined by their careers. It can be a comfort to say “I AM a lawyer/doctor/designer/ manager/teacher/musician, than to say I WAS any of those things. Even if retirement brings new challenges and joys, the career that was your life’s work is completely in the rear view mirror, and that can be an unsettling sensation.

Speaking of unsettling, the statistic in the latest Labor Department stats that gave me pause was that for the first time ever, one in nine men over the age of 75 were still working, along with one in 20 women.

And here I was thinking that 70 might be the next high water mark for retirement.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Who Says Boomers Are Selfish?

Sometimes it’s hard to refute the myth that baby boomers are self-centered. It’s not our fault that are parents led us to believe we were the center of the universe. Yes, we spent a good portion of our years on the planet taking care of business that would benefit ourselves, but the true measure of a generation is what we’ve been doing for everyone lately.

So what are boomers up to? How about their eyeballs when it comes to putting their parents and children ahead of their own interests? An Ameriprise Financial 2007 survey of three generations (boomers, their children and their parents) revealed that boomers were putting their children and parents in front of their own self-interest. Only 44% were saving for their retirement.

When the survey was updated in 2011, the number had sunk to 24%. That’s right – only one in four boomers were saving for retirement. Where was the money going? More than half of the surveyed boomers were supporting aging parents, paying for groceries, medical expenses and utility bills. That’s on top of paying tuition, insurance and car payments for their kids.

The big irony underlying the survey is that the boomers thought their children were deficient in their knowledge of how to handle money and their children thought that their boomer parents were not going to have enough savings on which to retire. Now there’s a perfect illustration of how difficult it is to be part of the sandwich generation. Pulled in two directions financially, boomers are going to have to figure out what’s got to give.

Financial planners are telling boomers that they have to cut the cord and start saving again for their retirement, because there’s a good chance their offspring will not be able to support them to the same extent that boomers have supported their own parents.

The other irony to the survey is that when asked what choice they would make between retirement savings and supporting their children, most boomers claim that they are choosing retirement savings. But the claim is not backed up by the reality. Boomers are still giving preferential treatment to their kids and their parents, and shortchanging themselves when it comes to retirement.

Bottom line, boomers may end up destitute, but don’t forget, they were looking out their parents and their kids, and that’s not selfish, that’s selfless.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Assisted Living -- Can’t Wait

Oh yeah, assisted living is most likely in all of our futures, but it’s already clear that it won’t be your father’s assisted living. Baby boomers are going to want to play by different rules and the assisted living industry is already planning, or should I say bracing for the changes.

Designers of 50+ communities are creating roomier floorplans (cuz we’re bringing ALL our stuff with us), more contemporary furnishings, added workshop and gardening spaces, and accommodation for pets. When we sell the house, that does not mean we’re giving up all our stuff....we’re just going to reposition it.

Location is a bigger deal now as well. The next generation of assisted living residents is not going to be happy stuck out in the burbs. They are going to want urban locations with easy access to cultural and dining options. According to a report from Bankers Life and Casualty Company Center for a Secure Retirement, boomers are going to be looking for “resort style of design” when choosing an assisted living or 50+ option.

Golf and shuffleboard are on the outs, but personal trainers, Wii and dogparks are on the way in. Boomers are not going to retire so much as go on vacation. And I’m okay with that. I wouldn’t mind living somewhere that felt like every day was a vacation.
And you can be sure boomers are going to want to have a say in how the place is run. Governance is not going to be left in the hands of those “who know best,”that’s for sure.

Broad-band access and WiFi....check. Cable TV with the premium packages....check. Closed circuit security cameras....check. These places are going to be bristling with the latest tech tools and toys, because that’s what boomers will be demanding. Everything from automatic and individualized temperature control to lights and doors that operate automatically.

Imagining retirement housing 20 or even 10 years from now is not just a fun pastime for futurists. The influence and impact of baby boomers is going to sea change the entire concept of retirement housing.

So cheer up, we’re going to be the Jetsons!!

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Where the Water Tastes Like Wine

Reaching their retirement years, some former commune residents are actively planning to head back to the place where they spent their formative years. That’s right -- they’re Going Back Up The Country -- and probably playing Canned Heat on the ride up!

Known as intentional communities, a term applied to living situations where the residents have common values or vision for their collective lifestyle, these communes are attracting boomers who have fond memories of life on the commune.

It’s estimated that there about 4,000 intentional communities and the Fellowship for Intentional Community has a substantial directory organizing them by type and location. There may be as many as 100,000 people residing in these communes

For many, the attraction is a simpler back-to-the-land lifestyle and a distaste for the materialism outside the commune. They may have outgrown the concept in their twenties and moved on to the conventional material world, only to find that now that they are in their sixties, they miss the spirit of collective living.

The newest trend is for first-timers who are taking a serious look at co-op housing options. The living quarters are smaller but there’s much more common space that is shared by all. It’s a recipe for interdependence that many boomers find most appealing.

Can you really live out your final years on a commune? Hard to say. Commune members from the earliest days in the late 60s are just now reaching that place in life. A few never left the commune and have marked their 40th anniversary there. If you’re an aging boomer, you would have to think long and hard about whether the commune’s collective spirit can support you well into your final days. Part of the equation is attracting younger commune members who will take on the task of supporting the oldest residents.

So it’s a gamble for many returnees, who have to hope that the communal spirit will be sufficient to meet their needs. But it may not be any riskier than any other retirement plan that relies on property values, investment success, good health and a decent social security benefit.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Boomers Suffering from Withdrawal?

Not likely you say? Since when are baby boomers getting shy? Not talking about that kind of withdrawal. We’re talking about the kind of withdrawal you make at the bank, and specifically, what happens to the U.S. economy when a lot of baby boomers start withdrawing their savings and portfolios all at once.

Is this scenario just one more event that the 24 hour news machine would have you freak out about? Or is it real?

Let’s look at the numbers. There are 78 million or so boomers -- but they are not all retiring at once. However, according to the Investment Company Institute, 44 percent of all mutual-fund shareholders are baby boomers. So let’s say that over the next couple of decades, they all start drawing down on these funds. Are there enough younger investors behind them to pick up the slack? Doubtful.

The theory is that the economy drives the market, but you can’t discount demographics. Ten thousand people retiring every day for 20 years (and drawing down on their savings) is going to have a dramatic effect on the markets. Twenty years from now, almost 20 percent of Americans will be age 65 or over, and that’s a lot of people slurping away at their savings. Experts point to Japan’s stagnant economy for a lesson in what happens when more than a quarter of your population is over 65.

Yet another sign of trouble in paradise is the increasing number of boomers who are shifting to bonds and dividend income stocks as they near retirement. Investing for the long-run is no longer a viable option for boomers on the cusp of their twilight years.

So, is the sky falling or not? Boomers did have a bunch of kids and those kids are now investors themselves. That helps, but experts suggest three specific courses of action: 1) Avoid Japan and Europe and look to invest in countries with younger populations. 2) Match stock picks to national demographic trends (e.g. agriculture in India). 3) Stick with income-producing equites and corporate bonds.

Finally, my personal advice: stop watching the 24-hour news cycle and try to enjoy your final years on earth.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Put Your Money In Ambulances

That’s right -- the next big investment opportunity if you want to see your money grow --buy an ambulance company. Competition among ambulance services for nonemergency medical transportation is getting fierce. Knoxville, Tennessee, for example, has two dozen services vying to take you to the hospital. Most of the runs are for pre-scheduled trips where a patient needs assistance, but there’s also the standby service where an ambulance is needed at sporting events or concerts. Think heart attack while rocking out to the aging Stones -- or maybe one of the Stones goes down. Either way, you can be assured that an ambulance is waiting outside to shovel up the afflicted (or affected) boomers and get them poste haste to hospital.

I can see where this may be going. At first, boomers will be content to use a standard ambulance, but as the competition heats up, they are going to want something different, something unique. I’m thinking muscle cars from the 70s. Convert a Pontiac GTO or Dodge Charger (maybe called the General Hospital) into an ambulance and boomers will climb all over that trend. Or how about a woody surf wagon with the surfboards still on the roof, Jan and Dean blaring on the sound system?

If you follow this logic to its inevitable conclusion, some boomers will start getting picky about what kind of ambulance they want to take to the hospital. Picture the guy who says, “I’ll wait for the next one,” in hopes of getting a cooler medwagon. Seem farfetched? Not if you’re talking about baby boomers who are very concerned with image. Arriving at the hospital or doctor’s office in a plebian, vanilla ambulance could wreck havoc with their reputation for good taste.

My suggestion would be if image is that important to you and you have the financial resources, buy your own ambulance and keep a driver/EMT on standby. That way you will always have a cool ambulance at your disposal, whether you’re at the beach or just taking in a ballgame. As crazy as it sounds, would you take a bet that it won’t happen?

Me neither.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Boomers Give Florida Cold Shoulder

Here’s a not so far from the truth In-Search-Of ad in a Florida newspaper:

FOXY LADY: Sexy, fashion-conscious blue-haired beauty, 80’s, slim, 5’4” (used to be 5’6”), searching for sharp looking, sharp dressing companion. Matching white shoes and belt a plus.

But the joke may be on Flordia, because boomers are looking elsewhere for retirement havens. For more than 50 years, retiring New Yorkers found Florida was their top destination. Now...not so much. In 2005, Florida accounted for 35 percent of New York’s net migration loss. In 2009, that share dropped to 11 percent, according to the Empire Center for New York State Policy [link here]. Where are New Yorkers heading if it’s not Florida? Try North Carolina.

What’s the story? More competition mostly. Other states are doing a lot more to lure retirees to their locales. But the biggest factor may be that boomers have loss equity and assets due to the meltdown and must now explore less expensive retirement options --- if they can afford to move anywhere.

Even if their stock portfolio has empty recovered somewhat, a lot of boomers may opt to stay put. Part of the equation is shrinking home values. If your house isn’t worth what it used to be and your savings have a dent in them, staying put may be the more attractive option. Add to that the fact that many boomers would like to remain close to family and friends, and you have a compelling case for nixing the whole retirement-in-the-sun scenario.

The new retirement paradigm may be to keep the house you’re in and take vacations or multi-month respites in warm locales. A note of caution though: if you drive in Florida be on the lookout for Herman.

As a senior citizen was driving down the freeway, his car phone rang.

Answering, he heard his wife's voice urgently warning him,

"Herman, I just heard on the news that there's a car going the wrong way on 280. Please be careful!"

"Hell," said Herman, "it's not just one car. It's hundreds of them!"

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

Retirement Envy

I feel like I’m living amid a sea of retirees. Probably because I am. Retirees have packed schedules of trips, concerts, museum visits, volunteer activities, yoga classes, long breakfasts, longer lunches, cocktails at 5 pm, hiking, biking, skiing, and more. It’s exhausting watching them wear themselves down to the nub while I have the freedom to work nine or ten hours a day.

Am I jealous? Of course. Every time I hear someone talk about being able to retire soon, I feel like I’m losing another comrade. What do you mean you’ll be able to go wherever you want whenever you want? Can you handle the stress of not knowing what you’re going to do when you wake up each day? Do you think it’s fair to flaunt this freedom in front of your friends who are still pushing the millstone in circles? Do you? Huh?

A little piece of my soul is crushed each time someone announces their retirement. Really. I’ve got the MRIs to prove it. I’m happy for them, but miserable for me. I love my work, but I’ve had a job since I was twelve years old, and the idea of getting out of the harness seems really appealing to me at this point in life. What would I do? Keep working part-time at what I enjoy doing, but with the knowledge that I don’t have to do it all day, every day. That would be a nice start. I can see that day coming, but it still seems like a long way off, like a tall tree on a distant hilltop. I’ll get there one day, if I keep walking, one foot in front of another, step by step, inch by inch, day by day -- okay, this is killing me.

Just promise me that if you’re planning on retiring soon, you’ll keep it to yourself. Pretend you’re still working but you’re on flex-time. Run out and do all the things you’ve always wanted to do -- just don’t tell me about it. What I don’t know can’t make me feel any more miserable.

And whatever you do, don’t even think about blogging about retirement --- at least not before I get to do that.

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.

They Really Like Us

Grey matter or grey eminence, whatever you call it, boomers are still valued in the workplace (at least according to an AP-LifeGoesStrong.com poll).

61% of the boomers surveyed said that their age was not an issue in the workplace. In fact, 25% thought it was an asset. Over half these boomers are working for bosses younger than themselves.

Age discrimination was a non-issue for 82 percent who said they never personally experienced it in the workplace. Twenty-four percent of unmarried women reported they had experienced it. Typically, the age discrimination that was cited was being passed over for a raise, promotion, or other career advancement.

For those 50 and over, there was a sense that younger co-workers were turning to them for advice and counsel and a third of those surveyed felt their employers were treating them with more respect.

But the respect does not make up for the insecurity they feel. One in four report that they can’t retire any time soon and the same percentage say they don’t have enough money saved for retirement. So it would appear that boomers are feeling the love but respect won’t pay the bills.

About two thirds of those surveyed say they will work at least part-time past their retirement age because they will need the money or to supplement what savings and social security will net them. Almost a third say they will work just to stay busy.

Much has been made of this trend for boomers to work longer, but it’s a trend that predates the big boom in retirees. Women in particular have been staying in the workforce longer and with fewer manufacturing jobs that required physical strength, many people are opting to work well past retirement. The increase in the Social Security retirement age and the desire to hang on to employer paid health care benefits are also big factors.

Inevitably, some will argue that boomers are being selfish (what? again?) by not stepping aside to make room for the next generation of managers. But the facts would seem to indicate that boomers are perfectly happy to work for managers younger than themselves and/or work reduced work week hours, so perhaps this issue will be easily diffused. We may soon see boomers standing on corners with signs that say “Will work for kids.”

Jay Harrison is a graphic designer and writer whose work can be seen at DesignConcept and at BoomSpeak. He's written a mystery novel, which therefore makes him a pre-published author.