February 22nd, 2010
If you’re looking for a mid-life career switch or entrepreneurial opportunity, you should be consider serving the country’s growing population of older adults. Demographics dictate that aging will be a growth market for years to come–and there’s no better opportunity to learn about it than at the annual Aging in America conference, to be held March 15-19th at the Hyatt Regency Hotel, Chicago.
This year’s conference includes Entrepreneurship & New Career Opportunities, a special session of the What’s Next Boomer Business Summit–an event staged each year by Mary Furlong & Associates as part of Aging in America. I’ll be presenting at this session, along with several entrepreneurs who share their stories and lessons learned. And Jeff Williams, CEO of Bizstarters.com, will offer tips to mid-life entrepreneurs.
I’ll also be leading a panel the morning of Wednesday March 17 at the Business Forum on Aging focused on challenges and issues facing Americans age 50-70 in the new economic landscape. Here, I’ll be drawing from my forthcoming book, The Hard Times Guide to Retirement Security (Bloomberg Press, Spring 2010). I’ll be joined by two great co-panelists– Sandra Timmerman, director of the Metlife Mature Market Institute, and Christine Benz, director of personal finance at Morningstar.
Aging in America is sponsored by the American Society on Aging and the National Council on Aging. It draws a large attendance of decision makers and national experts, many of whom will be sharing market research, business models and marketing tactics for businesses focused on the aging market. This year’s speakers include Robert Butler, MD, CEO of the International Longevity Center; author Gail Sheehy; Paul Hogan, Co-Founder, Home Instead Senior Care and Jennie Chin Hansen, President of AARP.
Click here for information registration for Aging in America, or here for the What’s Next Boomer Business Summit.
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January 28th, 2010
Most financial advisors tend to focus on how much you need to save. But it’s equally important to cut your debt load as retirement approaches–especially your credit cards and mortgage.Unfortunately, pre-retirees today are carrying unprecedented levels of debt, which could become a big problem for them when they’re ready to stop working. So, anyone aiming to retire in the next decade or so should consider taking a crash course in slashing your debt. This week at MoneWatch.com, I report on the key steps to slashing debt ahead of retirement.
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January 5th, 2010
The concept of active adult living just turned 50, with the anniversary of Sun City’s opening in Arizona on New Year’s day in 1960. NPR notes the anniversary with a look today at Del Webb’s concept of retirement living is faring.
Since those days, developers have updated the retirement living concept to recognize the lifestyle changes among older Americans–notably, the fact that many aren’t retiring in the traditional fashion. Yet, despite the millions spent on marketing, just three percent of 55-plus households lived in these communities as of 2007, according to the Metlife Mature Market Institute and the National Association of Home Builders [pdf].
One AARP survey found that 89 percent of Americans would like to live in their current homes as long as possible-and that number rises to 95 percent when people over age 75 are asked the question. The housing crash has solidified the urge to stay put, but doing so successfully will require some careful planning–something few boomers are doing.
The simple truth is that few of us are thinking proactively about what it means to age in place; just 16 percent of respondents to that AARP survey said they had made any modifications to their homes that would make it possible to stay where they are. That suggests too many of us are living in what some experts have dubbed Peter Pan housing-homes designed for people who will never get old.
Pioneering approaches are emerging that will help people stay where they are-avoiding costly and difficult relocations. These include intentional communities such as Beacon Hill Village in Boston, universal design and in-home technology that facilitates aging.
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January 5th, 2010
Retirement planning will be the second-fastest growing industry in the decade ahead–second only to voice-over-Internet telephony. That according to a projection of industry revenue growth by IBISWorld, a market research firm.Revenue in the retirement planning field is expected to jump 134 percent by the end of the decade, driven by a rebound in asset values and demand among baby boomers to get their financial houses in order. However the study doesn’t predict whether the growth will be concentrated at large banks and brokerages, or small independent advisers. Via Investment News.
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December 31st, 2009
Six of the top 30 fastest-growing job categories through 2018 will be in the health care industry, according to a federal government forecast. The fast-growth jobs include nurses, home health aids and medical assistants, according to the U.S. Department of Labor’s Bureau of Labor Statistics.Teaching jobs at the elementary school and post-secondary level also made the top 30 list.
The BLS analysis of job growth from 2008-2018 is in line with other recent research projecting job opportunities for older workers. Click here for the full forecast on the 30 fastest-growing occupations.
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December 4th, 2009
This is the season for annual enrollment in Medicare D and Medicare Advantage plans, and shopping can be a tough slog. If you’re picking a plan for yourself or assisting parents with the chore, check out my first article for CBS Moneywatch.com, which offers a detailed shopper’s guide to navigating the Medicare enrollment maze.
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