What's not in dispute: the sheer size of the aging baby-boomer generation and that an unprecedented demographic shift distorts statistics. It means, for instance, that retirees can play a significant role in the shrinking labor force even as people are staying on the job longer than ever.
The U.S. jobless rate fell below 7 percent at the end of last year for the first time since 2008, helped by an exodus of retirees that has shrunk the labor force, Fujita wrote in his analysis, revised in February. Unemployment dropped even further in April, to 6.3 percent.
Those numbers dovetail with the broader economic recovery, prompting Drew Matus, deputy U.S. chief economist at UBS Securities LLC, to posit that boomers put retirement plans on hold during the depths of the financial crisis and have been revisiting those plans since.
Baby boomers were born between 1946 and 1964, when a jump in birth rates followed World War II. As each year passes, the demographic inches along into older age slots that naturally have lower workforce participation.
Stock market gains haven't helped everyone. Those who want a job but have given up looking reached 783,000 in April, almost triple a low in 2007. That figure has remained stable since the beginning of 2012, ruling it out as a key factor behind the drop in participation rate, Fujita said.
Most economists agree that boomers will drive declines in the labor force for years to come. The Bureau of Labor Statistics projects that the aggregate participation rate will be 62.5 percent in 2020, 1.8 percentage points below the level in 2010.
The first Scoopshot soccer global task, "Show us your favorite soccer team jersey!", was pushed to users on June 12. Hundreds of Scoopshooters posted photos of themselves, friends and fans sporting jerseys at home and at the games. Future tasks include "In a 15 second video show us your soccer fancy footwork," and "Photos of dogs in soccer attire!" In addition to global tasks, Scoopshot will also create tasks for specific rivalries and countries. Scoopshooters will receive push notifications on their smartphones as new tasks become available. Scoopshooters can earn from $5 to $25 U.S. depending on the task assignment. Scoopshot has a track record of generating thousands of creative photos and videos. From a Finnish parachutist holding a beer above the Earth to cars hanging from giant cloth pins, Scoopshooters capture remarkable images and often get paid for their ingenuity. Scoopshot will issue the 18 tasks between June 12 and July 30. More than 100 Scoopshooters will earn cash for photos and videos that best capture the soccer spirit. Photos and videos that earn cash will be featured on the Scoopshot Facebook page and on Twitter: @scoopshot #WorldCup2014 About Scoopshot
Scoopshot is the leading mobile platform for photo and video crowdsourcing. With nearly 535,000 mobile users and 1,500 professionals in 177 countries, Scoopshot has fundamentally transformed how media providers and brands source visual content and engage their audience. More than 70 leading media companies and brands use Scoopshot to gain instant access to a global pool of Scoopshooters. Partners include USA Today, News Corp Australia, Apple Daily, WAZ, Fiat, Finnair, Oxfam and many others. Scoopshot is headquartered in Helsinki, Finland and incorporated and staffed in the US.
In addition to global tasks, Scoopshot will also create tasks for specific rivalries and countries. Scoopshooters will receive push notifications on their smartphones as new tasks become available. Scoopshooters can earn from $5 to $25 U.S. depending on the task assignment.
Scoopshot has a track record of generating thousands of creative photos and videos. From a Finnish parachutist holding a beer above the Earth to cars hanging from giant cloth pins, Scoopshooters capture remarkable images and often get paid for their ingenuity.
Scoopshot will issue the 18 tasks between June 12 and July 30. More than 100 Scoopshooters will earn cash for photos and videos that best capture the soccer spirit. Photos and videos that earn cash will be featured on the Scoopshot Facebook page and on Twitter: @scoopshot #WorldCup2014
While overall entrepreneurship in the U.S. is down, there has been an increase among boomers. The increase is partially due to financial need. While the U.S. unemployment rate among boomers was significantly lower (4.9 percent) than the national average (7 percent) in November, boomers suffered financially during the Great Recession, losing 25 to 28 percent of their median net worth, according to a 2013 study by Pew Charitable Trusts.
According to the 2013 Del Webb survey, which polled still-working boomers ages 50 to 60 years old, most plan to retire from their current full-time career by the age of 65, compared to a median age of 67 in 2010.
-- More than half (57 percent) of still-working boomers surveyed intend to retire from their current full-time career by age 65.
-- The boomer retirement plan today is more in line with Del Webb Baby Boomer data from nearly 20 years ago (1996), when 50-year-olds planned to retire at a median age of 63.
-- Meanwhile, consistent with prior boomer surveys, 41 percent are either likely or very likely to move at some point, with 29 percent currently undecided on a future move.
"Boomers are clearly feeling more positive about their situation and the housing market in general, with more expecting to retire sooner than just three years ago," said Deborah Wahl, senior vice president and chief marketing officer for PulteGroup Inc., parent company of Del Webb, the nation's leading builder of communities targeted to pre-retirement and retiring boomers. "The percentage of respondents who indicate that they are likely to move again is comparable to prior studies and is significant when you consider the vast group of 79 million boomers in America today."
Baby Boomer entrepreneurs are resilient leaders, can leverage their reputation, draw from their network and experience and know how to respond to situations. According to Money and U.S. News, Baby Boomer's growth as entrepreneurs is partially due to financial need. While the U.S. unemployment rate among boomers was significantly lower (4.9 percent) than the national average (7 percent) in November, boomers suffered financially during the Great Recession, losing 25 to 28 percent of their median net worth, according to a 2013 study by Pew Charitable Trusts. The majority of people retiring today "do not have the financial means to underwrite 20 to 30 years of their lives," says Elizabeth Isele, co-founder of Senior Entrepreneurship Works, a nonprofit that helps seniors age 50 and older start businesses. But others, who may be in better financial shape, are becoming their own boss to pursue an occupational dream years in the making, she notes.
Michelle Bauer, Founder and Chief Strategist, Common Language
Scott Bennett, National Vice President of Marketing, American Cancer Society
Elisa Camahort Page, Co-Founder & COO, BlogHer
Michael Carroll, Vice President, Marketing, United Healthcare Medicare Solutions
Andy Cohen, CEO and Co-Founder, Caring.com
R. Scott Collins, President & CEO, Senior Resources Alliance
Mara DelliPriscoli, President, Travel Learning Connections, Inc.
Marilyn Ditty, Executive Director, South County Senior Services, Inc.
Mary Furlong, CEO, Mary Fulrong & Associates
Jane Glenn Haas, Founder, WomanSage
Mark Graham, SVP, ivillage.com, an NBC Universal Company
Jeff Hasen, Chief Marketing Officer, Hipcricket
Lyn Jeffery, Cultural Anthropologist
Mollie Katzen, Best-Selling Author
Susy Korb, President, OMHU
David Lindeman, PhD, Director, Center for Aging and Technology
John Lukrich, COO, Dummies Licensing Partners
John McKinley, Founder, OurParents.com
Laura Mitchell, Director of Business Relations, GrandCare Systems
Gary Moulton, Product Manager, Trustworthy Computing Group, Microsoft
Coby Neuenschwander, Founder and CEO, Readeo
Miles Orkin, National Director of E-Revenue and Mobile innovation, American Cancer Society
Casey Pittock, President & CEO, Wellcore Corporation
Peter Radsliff, CEO, Presto Services
Francine Russo, Best-Selling Author
Gail Sheehy, Best-Selling Author
Nancy Shonka Padberg, CEO, Navigate Boomer Media
Sandy Timmermann, Executive Director, MetLife Mature Market Institute
Tandy Trower, Hoaloa Robotics
Renee Werbin, Publisher & Co-Founder, Travelgirl Magazine
Date and Time:
Friday, April 29, 2011
8:00 am – 5:00 pm
Parc 55 Wyndham Hotel
What's Next Boomer Business Summit
United Health Care, Microsoft, South West Airlines, Continuum Crew, AARP, Navigate Boomer Media, Verizon, First Republic Bank, SRA, Linqto, Common Language, Met Life, AAA
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Advance care counseling is long overdue and can bring incredible peace of mind. As a culture, we'd rather do anything than talk or even think about our own death. Psychiatrists have long equated the reluctance to draw up a will or estate plan with this fear of death.
Millions of families find themselves without guidance or direction when faced with a medical emergency or unexpected death. The legal forms for a living will and health care proxy haven't been filled out. No one wanted to think about the possibility that they might be needed.
We have all kinds of ways of not thinking about our death. Denial allows us to pretend that we won't be caught in that situation. We postpone filling out forms until "We're not so busy." We're paralyzed by our foolish superstition that makes signing papers a signal to God that we're ready to die. What about optimism that we'll just die in our sleep, or during sex, or our favorite sport?
Why spoil the quality of life by being negative?
However, a medical emergency or a tipping point in a chronic illness will trigger the need for a living will and a health care proxy, the documents that form the basis for advance medical planning.
The living will, a medical directive form, lets others know what medical procedures and treatments we want and the conditions under which we want them. Without this, our families will struggle with decisions they have to make that may not be what we want. The health care proxy or durable power of attorney form lets us choose someone we trust to make decisions for us if we can't make them for ourselves.
Why should any child be put into a situation of predicting a parent's wishes? What a huge responsibility for parents to shunt off on children -- one that is often complicated by the possibility of friction with other siblings. Why force people you love to read your mind and make heart-rending decisions in a time of crisis? Isn't it better for both generations to talk about what they want in case they can't speak for themselves at the time -- and to put it in writing?
For example, in the Terri Schiavo case, determining what a loved one would want was neither a simple nor clear decision.
The young woman was left in a persistent vegetative state after having a cardiac arrest. Unconscious and sustained by artificial hydration and nutrition through a feeding tube, Terri was unable to speak for herself. Because she had no official medical directive, her husband, who argued that she would not have wanted to be kept alive in this fashion, was locked into a 15-year battle with her parents, who refused to allow the withdrawal of the life-sustaining technologies.
The culture of silence around financial and estate planning, medical directives, powers of attorney, lifestyle preferences and end-of-life care results in countless unnecessary financial, legal, and social complications and pain for millions of people. That's too bad; advance care planning of all kinds is a smart and loving thing to do for our families.
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The situation was similar to what voters said to Congressional Senators and Representatives last week around the country. You're just not listening to us. We're tired of your arrogance... get out. Americans have spoken with their votes previously on several issues only to have state and federal judges reverse the decisions on a whim. So many of these reversals do not have Constitutional backing.
State judges are just not voted out very often which probably gives them a sense of tenure. It also apparently gives them a boldness that makes them feel they can interpret the law however they want. Iowa voters do not want the definition of marriage changed to accommodate gay demands. The three judges overturned that vote. Bad idea.
I would think that this will send a message to voters (and judges) in other states that deal with the same frustrations. "We the people" are in charge here. We saw the message get delivered loud and clear on November 2nd. This same message can be sent again on any state or federal election when the folks suddenly realize they hold the keys to the car.
The people have spoken... office holders beware.
While you're asking yourself these questions, adrenalin is coursing through your system, making your body feel different. From sweating to squirminess, the physical manifestation of angst is very uncomfortable and makes it
difficult to concentrate. Even if the problem is solved quickly, after going into a momentary panic, it will take you anywhere from an hour to a day to get back to your normal level of functioning. And being in a panic is not great for your general well-being.
This is where the old saying that "knowledge is power" can be very helpful. Knowing how your computer works and having the ability to dance around a program and make it do what you want it to can make you feel creative and
intelligent. Having the ability to get done what you need to do and not encounter any problems allows for greater access to the inner resources and inspiration that we all have.
The pride that comes from mastering or, if you're a techno-spazz like me, just getting the basics of a computer can be very empowering. In addition, learning something new builds brain cells and staves off Alzheimer's. You actually stimulate the growth centers of your mind and create a greater ability to figure out what you need to do next. The confidence of knowing
that you can solve a problem, even before you actually encounter it, is very freeing and allows you to push yourself without feeling pushed.
You can fly though projects like a stunt pilot, doing barrel rolls around your Excel spreadsheet, while your knowledge of Photoshop will make Ansel Adams green with envy. In addition, every time you accomplish a new task,
it gives you the opportunity to feel better about yourself.
If you invest an hour or two a week in a class, many of which are available online, you will master your program/computer of choice in short order. With that ability, you can then create and share your gifts with the
Just the social networking alone can link you up with what's going on in many different places. By Twittering here or Facebooking there, you can find old friends and make new ones. By creating a blog you can touch the
lives of hundreds, perhaps thousands (and maybe even get a book deal). Quite simply, it's an opportunity to connect with the rest of humanity.
So go get that new laptop or use your kid's old desktop, it's time to learn how to keep up with the rest of the human race.