Learn How to Reach a Market Begging to Be Recognized

In general, our generation has more money to spend than the younger generations. And many of us are willing to spend money to live our best lives. A lot of us enjoy new experiences. We want to stay as active and healthy as possible. Some of us like new adventures. Many of us are also ready for new opportunities. If you are thinking about going into business or have an existing business, I’ve got some great news for you. If you truly understand the needs, wants, and desires of individuals who are older than fifty, then your business could have…

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It’s Not Too Late: Create Your Own Small Business

Have you always dreamed of starting a new business but life got in the way? Are you wondering if you are now too old to start the business you’ve always dreamed about? If so, it might be time to stop dreaming and start considering how to make your dreams a reality. The good news is that “people over 55 are twice as likely to launch successful new companies like those in the 20-34 age group.” Jeff Haden reported on Inc.com that findings from a study involving 2.7 million new businesses indicate that a “sixty-year-old founder is three times as likely…

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Elder Force: Our Power by The Numbers

We have a great deal of power, but we face a huge threat that collectively we must address! Those of us who are fifty or over represent over one-third of the population in the United States. In some communities, the percentage of those fifty and over is much higher.  When it comes to our influence at the polls, our portion of the pie is even greater. Overall, we are healthier and living longer than any generation before us. We also control the majority of household wealth in the United States. Collectively, we represent a very powerful demographic with a lot…

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Older Workers Have a Lot to Offer Employers

In an article for Money Crashers online, Michael Lewis writes, “Over the next decade, 43% of America’s workforce will reach age 65 and be eligible for retirement…Collectively, they represent an enormous bank of intellectual and institutional knowledge gained over a half-century of technical advancement.”Lewis goes on to suggest that this large, already trained group could represent a “pool of potential future employees available to American businesses.” Without question, older workers have a lot to offer employers.Of course, the ‘elephant’ in the room and the biggest roadblock for taking advantage of such vast human resources is age discrimination. Various studies have…

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Ageism is Common and Costly

The World Health Organization indicates that ageism—or stereotyping and discrimination based on age—is the most socially acceptable form of prejudice on the planet. Because ageism does or will affect all of us, it is important that we recognize it and know how to deal with it.Ageism isn’t a Laughing Matter.I recently spoke to a local civic group about ageism and shared a story that many were quickly able to recognize as stereotyping based on age. My story was about an experience I had when I was in my early forties. I was a graduate research assistant at Portland State University.…

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Global Aging, Impact, and Opportunities

In June, world policy leaders met at the 2019 G20 Summit in Japan. For the first time in history, these leaders discussed the economic impact of global aging and declining birthrates. What does this mean for businesses? Bill Novelli, founder of the Global Social Economic Initiative (GSEI) at the McDonough School of Business said that one of the most important trends in the world today is the aging population. And this trend represents a significant opportunity for “nearly every industry.” Indeed, the aging population signifies economic, workplace, and innovation implications that forward-thinking businesses cannot ignore. Economic Impact In 2015, 35%…

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Many Older Workers Are Not Prepared for Retirement

It is no secret that about 10,000 baby boomers are reaching full retirement age every day. However, that doesn’t mean that boomers are going to be rushing for the exit as soon as many employers might hope. Citing the Labor Force Participation Rate, the New York Post reported in 2018 that nearly 20% of Americans 65 and over were still working. The reality is that many boomers simply are not prepared to finance what could end up being decades in retirement. The Social Security Administration is now projecting that as many as one in three adults who reach 65 will…

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The Aging Workforce: The Perfect Storm That Must Be Addressed

A demographic shift has taken place in the workplace. For some employers, this shift has the potential to represent the perfect storm if not addressed.  Approximately 10,000 baby boomers are reaching full retirement every day, but that doesn’t mean these individuals plan to retire in the near future.Why Are Some Older Workers Staying on the Job?What some employers may not realize is that many older workers cannot afford to retire. The great recession, insufficient retirement investments, the likelihood of having to finance two or three additional decades of living, and rising healthcare costs may have affected the financial side of…

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Older Employees Also Need to Feel Appreciated

During the late 1990s, I was an educational researcher. I had a manager, Roy, who inspired us by showing genuine appreciation for the contributions we all made to our organization. I’ll never forget the time he sent ‘thank you’ emails to each of us when he took a business trip. He just wanted us to know that he appreciated our work and mentioned specific ways that every person on his team made valuable contributions to our program. I think most all of us would have followed that man anywhere. Each of us felt valued and truly appreciated. The Value of…

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Many Employers Are Reinforcing Ageism by Ignoring It

  Ageism is part of our cultural fabric – it is deeply woven into our attitudes, beliefs, and behaviors. Ageism refers to stereotyping and discriminating against people and groups based on age. Yet many employers are reinforcing ageism by ignoring it. Ageism is Prevalent in Most Workplaces  Research, according to The World Health Organization, “suggests that ageism may now be even more pervasive than sexism and racism.” If you’re a woman or person of color, that’s like double or triple jeopardy. Unfortunately, many workplaces are not addressing this serious problem. This is a risky practice.   According to an AARP…

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