Civic Ventures :: Catching the Wave - The Journalists' Guide

Boomers and Retirement

Baby boomers want to retire but stay involved – This editorial discusses Civic Ventures and Experience Corps in Tucson, suggesting that "Our community needs to embrace the energy, expertise and wisdom of retirees and encourage their involvement here." It quotes Ellen Hargis, CEO of the Volunteer Center of Southern Arizona, Tucson's host to Experience Corps, noting that for Arizona retirees, often "golf isn't enough." The editorial also quotes Civic Ventures CEO Marc Freedman. (2006) – [VIEW]
Find the Right Match for Volunteer Work – Quotes Civic Ventures CEO Marc Freedman and Experience Corps CEO John Gomperts on the scarcity of meaningful volunteer opportunities for older adults. (2006) – [VIEW]
U.S. News: Work adds meaning to later life – The article from the June 12 issue of U.S. News & World Report highlights comments from a 2005 essay in the Chronicle of Philanthropy by Experience Corps CEO John Gomperts and Civic Ventures CEO Marc Freedman, noting that, "Although many seniors choose volunteerism -- from serving as aides in hospitals or libraries to tutoring youngsters in public schools -- for others, the idea of building upon their lifetime of work experience, or stretching it out in new ways, has an irresistible appeal." (2006) – [VIEW]

Research Centers/Organizations

RetirementReform.org – A new Web site by the National Center for Policy Analysis. Contains the latest and most prominent research on public policies that affect retirement. The materials cover the gamut from Social Security, Medicare and state pensions to 401(k)s and IRAs. (2007) – [VIEW]
The National Retirement Risk Index – The National Retirement Risk Index measures the percentage of working-age households at risk of being unable to maintain their pre-retirement standard of living in retirement. Key findings: The retirement landscape is shifting dramatically, making the outlook for retiring Baby Boomers and Generation Xers far less sanguine; over 40% of households are "at risk" of not having enough to maintain their living standard in retirement; saving more and working longer may substantially improve the outlook. (2006) – [VIEW]
National Bureau of Economic Research – [VIEW]
The Center on Aging and Health at Johns Hopkins – [VIEW]
Center for Retirement Research at Boston College – [VIEW]
University of Michigan Retirement Research Center – [VIEW]

Surveys

"Work Status of People 65 Years and Older: 2008 American Community Survey" – According to 2008 U.S. Census Bureau projections, the 65-and-older population is projected to increase by 79 percent from 2010 to 2030, representing 19 percent of the total population by 2030. In 2008, 15.5 percent of the 65-and-older population participated in the labor force. Of those aged 65 and older participating in the labor force, some have retired from full-time, year-round employment but continue to work part-time either to pursue other work-related interests or supplement their income from savings and social security. Others continue to work full-time, year-round due to a lack of desire to retire or inadequate (2009) – [VIEW]
"Older Population in the United States: 2007 and 2008" – These reports use data from the Current Population Survey to extensively detail (in Excel tables) information about adults aged 55 plus. Categories include: occupations, household income, poverty status, mobility, ethnicity, and more. For 2007 results, see http://www.census.gov/population/www/socdemo/age/older_2007.html (2009) – [VIEW]
"Working in Retirement" - Schwab's Rethinking Retirement Survey – Schwab's Rethinking Retirement Survey polled representatives of Generation Y (ages 13-31), Generation X (ages 32-43), Baby Boomers (ages 44-62) and the Silent Generation (ages 63-83). Among the findings: 71 percent of pre-retirees want to work at least part-time in retirement. They prefer part-time, flex-time and a better overall balance between work and leisure. Among those who plan to work in retirement, 60 percent are interested in a different line of work. (2009) – [VIEW]

More Items Are Archived In 'Surveys' >

Planning the Next Step

Encore: Finding Work that Matters in the Second Half of Life – Baby boomers are inventing a new stage of work. As their numbers swell, they are transforming work itself—and creating a society that works better for everyone. In his new book, Encore: Finding work that Matters in the Second Half of Life , Marc Freedman, a founder of Civic Ventures, the Purpose Prize and Experience Corps, tells the stories of encore career pioneers who are opting to work, not retire, but to work in new ways, on new terms and to new ends. (2007) – [VIEW]
"The Role of Community Colleges in an Aging Society and the Importance of Networking" – The authors discuss the Association for Gerontology in Higher Education's Community College Task Force, and their efforts to establish an active network of community colleges around the issues of longevity and aging, including caregiving. The authors discuss the need for community colleges to respond to our aging society - to understand and to prepare for the challenges and needs of communities - and they strongly advocate for networking and sharing of information among community colleges to this end. (2009) – [VIEW]
"Why baby boomers will need to work longer" – Most US baby boomers are not prepared for their retirement, and neither are the US and world economies. Boomers can help mitigate the consequences by remaining in the workforce beyond the traditional retirement age. (2008) – [VIEW]
"Who Determines When You Retire? Peer Effects and Retirement" – This paper examines the decision about when to retire. The authors test the hypothesis that individuals decide when to retire, at least in part, by observing the retirement decisions of their coworkers. Analysis was conducted using comprehensive, new data on the characteristics and retirement decisions of virtually all non-Federal government employees in the State of Oregon - that is, the behavior of 71,923 retirement-eligible employees at 672 employers over 12 years. (2008)
"Four Generations of Americans Rethink Retirement" – This study finds that Americans across generations are developing new and different ideas about how they expect to approach retirement. Among the findings: an anticipated need for financial self-reliance in retirement; a want for a new model for work life in their retirement years cycling between periods of work and leisure; the needs for far greater financial education earlier on to address coming needs for saving. (2008) – [VIEW]
"Promoting Work: Implications of Raising Social Security's Early Retirement Age" – This brief addresses the question of whether today’s workers would be able to work longer without undue hardship if Social Security's Early Eligibility Age were raised. Answering this question requires exploring trends in both the health of older workers and the nature of jobs. In examining these areas, the brief focuses in particular on economically vulnerable groups — women and minorities. (2007) – [VIEW]
"Six Paths to Retirement" – The conventional view of retirementworking full-time until a set date and then shifting to full-time leisuredoes not match the experience of many older Americans. This study explores the transition from the world of work to the world of retirement. Using actual work histories, the study identifies six distinct paths from work to retirement and examines the triggers that influence these paths. (2007) – [VIEW]
"Dorm food and pop quizzes decades after most of their peers" – Increasing numbers of baby boomers are heading back to school to earn degrees. Colleges and universities are finding that older students are more likely that younger students to be driven by a desire to help others. Further, a study by the Met Life Foundation and Civic Ventures found that half of adults between the ages of 50 and 70 say they are interested in taking jobs now or in the future that help improve the quality of life in their communities. (2006) – [VIEW]
"Women's top retirement strategy often is to stay on the job" – Nearly 12% of women 65 and older are now in the workforce, up from 8% in 1980, according to the Bureau of Labor Statistics, even though the average woman now retires at 62, according to the Center for Retirement Research at Boston College. In coming years, millions of today's female baby boomers will find that working longer may be the only way to avoid falling into poverty in their elder years. (2006) – [VIEW]
"Longer Lives and the 'Lump-Sum Illusion' Are Just Two of the Challenges" – In the United States alone, 77 million baby-boomers will be living the next 20 to 30 years in retirement. With long lives ahead of them -- and without adequate planning -- what are the risks they are facing? According to Olivia Mitchell, Wharton professor of insurance and risk management, and Christopher Condron, president and CEO of AXA Financial, boomers will confront challenges that previous generations never faced: including changes to key retirement institutions, medical-care cost inflation and the "lump-sum illusion." (2006) – [VIEW]
Business Week 2006 Retirement Guide – Retirement means making careful plans--about what to do, where to live, and how to pay for it all. (2006) – [VIEW]
"The Time to Plan Is Now" – New tools and a little foresight can smooth a path to retirement between scrimping and splurging. (2006) – [VIEW]
"Transitioning To Retirement: How Will Boomers Fare?" – (2006) – [VIEW]
"Working for a Good Retirement" – When people work longer, they produce additional goods and services for the economy. They also earn more income, usually save some of that income, allow their assets to grow, and increase their annual Social Security benefit by withdrawing money over a shorter period of time. At the same time, they lower Social Security deficits by delaying receipt of government benefits and, quite importantly, pay more taxes-which bolster other government programs. (2006) – [VIEW]
"Can you afford to retire?" – The baby boomer generation is headed for a shock as it hits retirement: many of them will be long on life expectancy but short on savings. The two main strategies for funding retirement -- lifetime pensions and 401(k)-style savings plans -- are in serious trouble. In "Can You Afford to Retire?" FRONTLINE correspondent Hedrick Smith investigates this looming financial crisis and the outlook for middle-class Americans. (2006) – [VIEW]
"Setting Sights on Retirees" (2006) – [VIEW]
Coming of Age – An initiative in greater Philadelphia to promote 50+ civic engagement, lifelong learning and community leadership. – [VIEW]
The Vital Aging Network – Sponsored by the University of Minnesota College of Continuing Education to provide resources for people 55 and older. In addition to providing resources that link people to opportunities for meaningful and productive activities, this Vital Aging Network is also intended to be a forum where individuals and organizations can work collaboratively to promote self-sufficiency, community participation and quality of life for older adults. – [VIEW]
Pathways – Pathways Centers provide opportunities for adults age 50 and better to discover and engage in activities which promote individual and community renewal. Personal life planning services and creative programming for volunteer service, employment, lifelong learning, wellness and social engagement. – [VIEW]
The Transition Network – A gateway for information and education about post-career choices, concerns, and relationships; a community of peers; a catalyst for exploring paid and non-paid work opportunities, developing new talents, new careers, or new ways to volunteer. – [VIEW]
2young2retire – Intends to inspire and motivate people to think differently about retirement planning. Includes professional and personal resources to help with life planning. – [VIEW]

Reports/Writing

"Bridge Employment and Retirees' Health: A Longitudinal Investigation" – This study found that older people who hold temporary or part-time jobs after retirement enjoy better physical and mental health than those who stop working entirely. Those who continue to work in their original field also have better mental health than those who change fields. The researchers interviewed 12,189 participants, aged 51 to 61, every two years over a six-year period beginning in 1992 about their health, finances, employment and retirement. (2009) – [VIEW]
"Rising Senior Unemployment and the Need to Work at Older Ages" – Unemployment rates for older workers reached record levels in 2009, partly because fewer workers eligible for early retirement benefits are dropping out of the labor force. Growing concerns about the adequacy of retirement savings and whether retirees will have enough money to live comfortably in later life appear to have discouraged early retirement. Instead, more older workers are now remaining in the labor force and searching for work after they lose their jobs. The need for older adults to keep working raises the imperative for new policies that help address the special challenges that older job seekers face. (2009) – [VIEW]
"Older Workers: Employment and Retirement Trends" – As the members of the "baby boom" generation--people born between 1946 and 1964--approach retirement, the demographic profile of the U.S. workforce will undergo a substantial shift as a large number of older workers will be joined by relatively few new entrants to the labor force. According to the Census Bureau, there will be 204 million Americans aged 25 or older in 2010. By 2030, this number will increase by 23% to more than 251 million. Most of this growth will occur among people aged 65 and older. (2009) – [VIEW]
HRS - Health and Retirement study – Within the publicly available material of this reports is a wealth of data, including biennial datasets, longitudinal datasets, off-year studies and sensitive health data (2009) – [VIEW]
"Phased Retirement - Legal and Research Summary Sheet – This report provides legal and other research data about employers' and workers' experience with phased retirement. (2009) – [VIEW]
"Rethinking Retirement - Can Americans Afford to Retire?" – Steep investment losses, insufficient savings, an entrenched recession, climbing health care costs, and rounds of lay offs --- all these factors are changing the reality of retirement for older Americans. Most will now need to continue working past the traditional retirement age to keep afloat. The timing is right for Encore Careers. The chance to combine social purpose, continued income, and meaningful work is attracting increasing numbers of boomers. The newly enacted Edward. M Kennedy Serve America Act authorizes as much as $6 billion in new spending over the next five years to increase volunteerism and community service to broaden the appeal of encore careers. (2009)
Boomers: The Next 20 Years. Ecologies of Risk – The third part of a three-phase project examining how boomers will age over the next two decades. Boomers have lived through a series of interrelated economic upheavals: periodic recessions, the oil shock and stagflation of the 1970s, globalization, the dot-com boom and bust, tightening credit, falling home prices, soaring energy costs, and a weakening dollar. To weather these challenges, boomers can call upon the personal, social, experiential, economic, and even spiritual assets to craft distinctive ecologies of resources to respond to highly individual ecologies of risk. This forecast explores some of the key elements of these ecologies and the roles that they will play in boomers' lives in the next two decades. ***Also see Boomer Map. (contains evaluative data charts and comparison charts) http://www.metlife.com/FileAssets/MMI/MMIStudiesBoomers20yrs.pdf (2008) – [VIEW]
"How Is the Economic Turmoil Affecting Older Americans?" – The slumping stock market, falling housing prices, and weakening economy have serious repercussions for older Americans who are approaching retirement or already retired. Seniors have little time to recoup the values of their homes, 401(k) plans, and IRAs. More and more older adults are working to bolster their retirement incomes, but the rising unemployment rate limits their prospects. This fact sheet examines the impact of the ongoing economic turmoil on retirement savings, home values, and retirement decisions. (2008) – [VIEW]
"Boomers at the Bottom: How Will Low Income Boomers Cope with Retirement" – This study uses the Urban Institute's DYNASIM model to project wealth and income at retirement for low-income boomers. The findings suggest that most with low lifetime earnings will also have low incomes at older ages unless they either continue working or move in with others who help support them financially. Saving more, working more consistently over their lifetime, and delaying retirement is projected to improve outcomes for low-earning boomers, but none of these actions will increase retirement living standards dramatically. (2008) – [VIEW]
EBRI 2008 Recent Retirees Survey: Report of Findings – This survey examines the benefits (or the combination of benefits) that workers say they want to stay on the job a few years longer. Employers can hold onto workers by offering the options of telecommuting, contract or part-time work, full pensions with part-time work, and more interesting responsibilities. (2008) – [VIEW]
Aging Stats 2008 Report – This report provides the latest data on the 38 key indicators selected by the Forum to portray aspects of the lives of older Americans and their families. It is divided into five subject areas: population, economics, health status, health risks and behaviors, and health care. (2008) – [VIEW]
"How Many Struggle to Get by In Retirement?" – This paper uses data from the 2004 Health and Retirement Study to demonstrate how the poverty rate of adults 65 and older changes using alternative resource and threshold measures. Results show that alternative poverty measures that account for health spending produce higher poverty rates than the official measure, even those that include the value of housing and financial assets. Poverty remains concentrated among singles (disproportionately women), blacks and Hispanics, and adults 85 and older regardless of how it is measured because these populations have relatively little housing equity or financial assets. (2008) – [VIEW]
"To Retire Or Not to Retire?" – Blogger Tammy Erickson says the question for 2008 is "To retire, or not to retire?" Erickson argues that most companies have accepted the idea of encouraging boomers to stay on the job longer - a change in thinking over the past few years. "We are headed for a talent shortage that will grow in size over the next several decades if we don't find ways to supplement the new ranks of Generation Y with at least some of the graying Boomers. The trick, as with most things, is how..." (2008) – [VIEW]
"What Makes Retirees Happier: A Gradual or 'Cold Turkey' Retirement?" – This study explores the factors that affect an individual’s happiness while transitioning into retirement. Using longitudinal data from the Health and Retirement Study, this study explores what shapes the change in happiness between the last wave of full employment and the first wave of full retirement. Results suggest that what really matters is not the type of transition (gradual retirement or cold turkey), but whether people perceive the transition as chosen or forced. (2007) – [VIEW]
"State Keeps Tabs on Retirees to Lure them Back" – In anticipation of a talent shortage resulting from a flood of retirements in the next two to five years, California has created the Retired Annuitant Database Project, a database of anticipated retirees, many of whom may want to go back to work part-time. (2007) – [VIEW]
"Older Workers: Employment and Retirement Trends" – As boomers approach retirement, the demographic profile of the U.S. workforce will undergo a substantial shift: a large number of older workers will be joined by relatively few new entrants to the labor force. This trend could affect economic growth because labor force participation begins to fall after age 55. The rate of employment among persons age 55 and older is influenced by general economic conditions, eligibility for Social Security benefits, the availability of health insurance, and the prevalence and design of employer-sponsored pensions. (2007) – [VIEW]
"It's Not Your Mother's Retirement:A MetLife Study of Women & Generational Differences" – This report looks across generational lines at how women view retirement and anticipate it will change. The focus is on the similarities and differences between mothers and daughters. (2007) – [VIEW]
"How do older Americans spend their time?" – Older Americans' time use changes dramatically with age, but it's the lower employment rates at olde ages - rather than age itself - that have the greatest impact on time use. (2007) – [VIEW]
"Boomers are Ready for Nonprofits, but are Nonprofits Ready for them?" – This report focuses on the impact that projected baby boomer retirements will have on the strength, growth, stability, and potential of the nonprofit sector in coming years. (2007) – [VIEW]
"A value judgment- For some baby boomers, chasing their ideals - despite the pay cut - makes life more fulfilling" – Growing numbers of baby boomers are stepping off the corporate ladder and into jobs that often pay signifigantly less, but prove to be far more fulfilling. Boomers did not invent the quest for personal meaning and job satisfaction. But many of them have elevated it to the center of their lives, even if it means turning everything else upside down. Increasingly, as they transition through middle age, what is important to boomers is the opportunity to help others. Rather than wait till retirement to try their hand at community service, they are finding ways to do it professionally, often by marrying the expertise they developed in their previous careers with the idealism they feel they have had to suppress. (2007) – [VIEW]
RetirementReform.org – A new Web site by the National Center for Policy Analysis. Contains the latest and most prominent research on public policies that affect retirement. The materials cover the gamut from Social Security, Medicare and state pensions to 401(k)s and IRAs. (2007) – [VIEW]
Find the Right Match for Volunteer Work – Quotes Civic Ventures CEO Marc Freedman and Experience Corps CEO John Gomperts on the scarcity of meaningful volunteer opportunities for older adults. (2006) – [VIEW]
"The Leadership Deficit" – One of the biggest challenges facing nonprofits today is their dearth of strong leaders - a problem that's only going to get worse as the sector expands and baby boom executives retire. Over the next decade nonprofits will need to find some 640,000 new executives, nearly two and a half times the number currently employed. To meet the growing demand for talent, the author offers creative ways of finding and recruiting new leaders from a wide range of groups, including business, the military, and the growing pool of retirees (2006) – [VIEW]
"Work may add meaning to your later life" – Financial concerns may be the first reasons older workers offer to explain why they're staying on the job, but researchers have found that one deeper reason--the need to make a meaningful contribution--is often the more important motivating factor. (2006) – [VIEW]
"7 Reasons Not To Retire" – Working longer - rather than retiring at 65 - can be better for your health and your wallet. Seven reasons are detailed. (2006) – [VIEW]
Reinventing Retirement – Baby boomers will be living longer, but many worry they'll be unable to afford those extra years. A panel considers changing ideas about the so-called golden years. Diane Rehm interviews Hedrick Smith, independent producer and former correspondentfor the New York Times; Charles Veith, president of T. Rowe Price Retirementplan Services; Marc Freedman, founder and president of Civic Ventures; and Virgil Goode, U.S.congressman for Virginia's 5th district. (2006) – [VIEW]
"Shrinking inheritances await most baby boomers" (2006) – [VIEW]
Baby Boomers Demand Constant Activity in Arizona Retirement – Robbins describes the changes in the Arizona retirement community Sun City. One of the first on the scene, Sun City was a revolutionary concept when it was first introduced; retirement communities promoting an active lifestyle revamped traditional ideas about retirement life. Civic Ventures President Marc Freedman has studied Sun City and says while the Sun City idea was initially revoluntionary, it must now change to meet the needs and demands of the baby boomers. (2006) – [VIEW]
"Projected pension income: equality or disparity for the baby-boom cohort?" – This article presents data from the Modeling Income in the Near Term (MINT 3) system to address the question of what is in store for the baby-boom cohort once it reaches age 62. The primary objective is to examine disparities in projected pension eligibility and income among the various baby-boom subgenerations upon reaching 62 years. (2006) – [VIEW]

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