Boomers delaying retirement? Not wanted. Needed.
Posted On May 24, 2016
Retirement? What’s that? Though there is some disagreement as to the degree of this phenomenon, it appears that Baby Boomers are typically working longer than their forebears and retiring later in life. TheStreet.com cited a Northwestern Mutual study that found our typical target retirement age is now 68. A Wall Street Journal examination of the trend in 2014 found that 25 percent of 70-year-old men were still in the workforce or looking for work, compared to 20 percent in 2000. The 20 percent of 70-year-old women still in the workforce in 2013 was nearly double that of 2000. Why are… Read More
Categories: Baby Boomers, Retirement
Succession Planning – The Time is Now
Posted On May 17, 2016
The Great Recession of the late 2000s wreaked havoc on most of our plans in some way. Plans to buy or sell a house, plans to fund a college education, plans to move up in our careers to a better job – all had to be postponed, downsized, or even abandoned until the economy started moving again. The downturn also affected succession planning for Baby Boomers, many of whom set aside long-term necessities while dealing with short-term realities. A recent story at campdenfb.com cited a 2016 Kreischer Miller report, which surveyed family businesses in Pennsylvania, New Jersey and Delaware, and… Read More
Categories: Baby Boomers, Retirement, Succession Planning, Workplace
Boomers as Workplace Loyalty Role Models? Hardly.
Posted On April 27, 2016
If you’re an employer you might worry about retaining workers, and the difficulties that high job turnover presents to your bottom line – such as the costs of finding and training new workers. Millennials, in particular, can’t hold down a steady job because they don’t know how to, and/or they don’t want to, or so we’re told. They are just too selfish to commit to anything or anyone, including the people who sign their pay-checks. Fret not! Recent research highlighted on fivethirtyeight.com under the heading Millennials found that Millennial disloyalty is – a bit of a myth. Researchers from the… Read More
Categories: Baby Boomers, Generation Y / Millennials, Work, Workplace
Coach v Mentor? Hard to argue with that…
Posted On January 3, 2016
As a card-carrying member of Generation X who also participated in sports from elementary school on up through high school, I get a very clear picture in my head when someone uses the word “coach.” There is a whistle, a certain comically ugly style of beltless shorts, a lot of physical exertion and pain, and usually a lot of yelling. That’s not to say I questioned their methods. All the wind sprints and all the yelling were designed to make me and my teammates better athletes. The fact that most of it failed miserably reflects more on me than on… Read More
Categories: Baby Boomers, Generation Y / Millennials, Work, Workplace
Trampoline, not a free ride.
Posted On August 31, 2015
Many millennials, like their Gen-X parents and Baby Boomer grandparents before them, are ready to jump right out into the world and get on their own once they leave college. In our culture of independence, there may be a certain social stigma attached to those who continue living with Mom and Dad after they’re finished with school. CNN Chief Business Correspondent Christine Romans, author of Smart is the New Rich: Money Guide for Millennials, suggests in a recent video for USA TODAY that it’s not a bad idea for newly graduated millennials to live at home for a couple of… Read More
Categories: Baby Boomers, Generation Y / Millennials
Because betting on Social Security is like standing on 15 when the house has an ace showing.
Posted On July 30, 2015
The Government Accountability Office’s 2013 Survey of Consumer Finances has revealed a rather frightening statistic: About half the U.S. population age 55 or older has no retirement savings. The GAO report found that 48 percent of households age 55 or older have some retirement savings; 23 percent have a defined benefit plan – which typically provides a monthly payment for life — but no retirement savings; and 29 percent have no defined benefit plan or retirement savings. What will that 29 percent live on? It’s likely that they’re counting on Social Security, which is a major gamble. About half of… Read More
Categories: Baby Boomers, Retirement
You Can’t Judge Every Individual By His Generation
Posted On April 28, 2015
We live in a digital age, so it only stands to reason that Millennials will be quicker to adapt and integrate new technologies into their everyday lives than Baby Boomers and Generation Xers. The folks at Millward Brown Digital set out to test that theory, but instead found something far more elemental: You can’t judge every individual by his or her generation. A survey conducted by the company found that while Millennials are the first generation to really embrace mobile shopping, they – like their Gen X parents and Baby Boomer grandparents – still fall back on the trusty old… Read More
Categories: Advertising, Baby Boomers, Generation X, Generation Y / Millennials, Generations
The Boomer List: The stories of a generation
Posted On October 21, 2014
As I mentioned a couple of weeks ago, PBS has a new documentary film, The Boomer List, which provides a look at life from the perspective of 19 famous Boomers. I had a chance to watch it and I think it is worth the 1:22 of your time. The film doesn’t have a specific point other than that there are common threads and vast differences in the people who make up the Baby Boomer generation. The stories told by the 19 individuals, each born in one of the 19 years that make up the Boomer generation, are shared out of… Read More
Categories: Baby Boomers
American Masters: The Boomers List – tune in Tuesday
Posted On September 22, 2014
A departure from my typical blogging, to encourage you to watch the premiere of the PBS documentary “American Masters: The Boomers List” tomorrow night (Sept. 23). Or at least set your DVR. The film showcases 19 iconic boomers – one born every year of the generation – and promises to provide an interesting perspective on one of the most talked about generations ever. Then again, getting the Baby Boomers to talk about themselves is never difficult. View the trailer here and check your local listings for times. Then come back here and tell me what you thought.
Categories: Baby Boomers, Uncategorized
If there’s one thing for certain, it’s not taxes
Posted On July 22, 2014
Don’t tell the Baby Boomers, but despite their numbers and impact on the world, they are not going to live forever. Apparently the most universal of truths is contributing to the latest in Boomer-driven business trends: eco-friendly burials. At least that’s what the Associate Press is telling us. According to “Eco-friendly burials gain favor among Baby Boomers,” Al Gore’s generation is feeling a little guilty about the environmental legacy they are leaving behind and are increasingly opting to eschew traditional burials for a more “ashes to ashes, dust to dust” approach. Make no mistake, the 40 green cemeteries in the… Read More
Categories: Baby Boomers, Generation Y / Millennials