Your front porch sags, your kitchen is the size of a broom closet, and you can’t run the vacuum and the dishwasher at the same time without blowing a fuse. You’d love to buy a nicer house, but given the wretched state of the housing market, you’re probably stuck with the house you have.
If you’re like most workers, you’re in the same position with respect to your retirement savings plan. Sure, it would be nice to have a traditional pension that delivers a monthly check until the day you die, but hardly anyone has one of those anymore. Instead, most of us have a 401(k) plan, which requires more maintenance than a traditional pension. continue reading>>
Source: USA Today
Times are changing, and the Canadian nonprofit sector is quickly becoming an intergenerational mix of professionals of varying levels of experience and education. With Canada’s bulge of baby boomers approaching retirement, these future vacancies — and the future of our nonprofit organizations — leave Generation X and Generation Y (aka “Millennials”) no choice but to collaborate to construct a new landscape for our nonprofit workforce.
This new reality requires an intergenerational understanding and a commitment to cooperate in order to fulfill the missions of our nonprofit organizations. In the spirit of mutual support, we Millennials offer the following thoughts as insights into our generation.
Source: Charity Village
Until recently, working after retirement sounded like an oxymoron. Aren’t those years supposed to be devoted to volunteering, traveling and visiting grandchildren? But a recent report by the Families and Work Institute and Boston College’s Sloan Center on Aging and Work found that a growing number of people continue to work for pay following their official “retirements…”
“Workers who change jobs at older ages say they are more likely to enjoy the new job than the old job,” Mr. [Richard] Johnson, [a senior fellow at the Urban Institute in Washington, D.C.] said. continue reading>>
Source: Sherisse Pham (The New Old Age, The New York Times)
Many countries are contemplating or are already in the process of raising the retirement age for their national pension systems. However, in many places, this is simply a reversal of earlier declines in the retirement age. Many governments relaxed retirement-age rules in the 1970s and 1980s, and are now restoring retirement ages to their former levels.
The average global retirement age was 64.3 for men in 1949, but gradually fell to a low of 62.5 in 1993, according to an Organisation for Economic Co-operation and Development analysis of retirement ages in 30 countries with national retirement plans. continue reading>>
Source: US News Money
The tsunami looms: By 2050, nearly 90 million Americans will have passed age 65, and every corner of society will feel the impact. With our inadequate health-care workforce, outmoded retirement ideas and rigid housing policies, how can our country prepare? Beyond rethinking ways to ensure retirement savings (mandatory government savings plans?) and redefining retirement (phased retirements? working longer?), researchers and professionals are trying out, and in some cases reviving, some ideas. continue reading>>
Source: Patrick Egan (The Washington Post, August 10, 2010)