En español | Don’t expect boomers to jump into retirement and pursue a life of full-time leisure. Once they leave the workforce, many of them want to, well, continue working — often in an entirely new field.
Thanks to the determination of millions of hardworking Americans, our economy has come a long way since the financial crisis seven years ago. Our businesses have created more than 12.8 million new jobs over 64 straight months — the longest streak on record. Our high school graduation rate is at an all-time high. More Americans are finishing college than ever before. And more than 16 million additional Americans have health care — and the uninsured rate is the lowest on record.
AARP has always believed in the value of older workers, that they can be a genuine asset in the workplace. Now we have new evidence to back that up. In the wake of the Great Recession, we took a fresh look at data about hiring and retaining workers who are 50 and older. The AARP study, “ A Business Case for Workers Age 50+,” which came out just last month, not only confirmed earlier research but also indicated that today the case is even stronger for keeping older employees in the workforce.
So it seems that boomers and the Generation X that followed them believe a traditional retirement, the kind where you clock out of the job permanently at age 65 to travel, play golf, visit the grandkids or relocate to a sunnier destination, isn't in their future. Yet Millennials, the oldest among them in their mid 30s, are much more hopeful. They predict they'll retire at or before they reach their mid 60s, according to a survey released Wednesday by the nonprofit TransAmerica Center for Retirement Studies .
Do you have a plan to recession-proof your life? A growing number of workers age 50-plus do, and it involves turning interests, hobbies or skills into a small business.
When it comes to the stressful search for a job, older workers apparently have less tolerance for the process. Most either land a job or stop searching altogether within a year or less, according to a study by the Center for Retirement Research at Boston College.
The number of working Americans ages 65 and older is at the highest point in nearly half a century, the Los Angeles Times reports. While older adults still make up a relatively small share of the total U.S. workforce, nearly one in five adults over 65 are currently working or looking for work, and employment in this group has jumped 27 percent since 2007, recently surpassing 7 million.
Let's face it; as much as we may try to say otherwise, having a boss that's significantly younger than you can often be a pain. Lots of times it works out fantastically, but being an elder to your manager can often lead to tension and frustration. Author and workplace consultant Diane L. Katz talked to AARP about how to manage your younger manager, giving folks some very useful tips like:
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