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Aging & Innovation in Other Cultures: Destination Cuba

This week’s installment features the work of Steve Minkin, and is edited by Jeffrey Rosenfeld, Ph.D. of Parsons School of Design. 

When the embargo is finally lifted, Cuba could become an emerging market for American companies concerned with the “business of aging”. The statistics are strikingly clear. Cuba has one of the oldest populations in the Americas, and demographic trends virtually ensure that by 2030 the country will be the oldest in the hemisphere.

Cuba today has about 11.1 million inhabitants. The percentage of Cubans living into old age is moving higher everyday. In 2015, one out of every five Cubans was reported to be above 60 years old. By 2025 the ratio is expected rise to 1:4. In less than 10 years 25% of Cubans will be over 60.

In 2030, less than 15 years from now, 30% of Cubans will have entered their 60+ senior years. Revolutionary Successes:  It is common demographic wisdom that healthy, educated societies have low birth rates. Pre-revolutionary Cuba was characterized by a stark contrast between the lives of the rich and poor with very little in between. The country was controlled by a dictatorial, mafia-connected, brutal and corrupt regime. The majority of the country was uneducated. Infant, child and maternal mortality was rampant.

From its inception the Castro government emphasized education and a system of free national health care. As a result, Cuba, although poor, boasts the highest literacy rates in the Americas and the lowest rates of infant, children and maternal mortality. By these demographic measures,  Cuba fares better than the United States and is demographically comparable with Canada.

Cuba only spends a fraction of what we do on health care, but average Cuban life expectancy is equal to that in the United States.

One reason for Cuba’s longevity rate, is that this island nation is a very safe place to live. There is virtually no gun violence, and drugs are not a major social and public problem. Education and health have had powerful impacts on the age structure of Cuba. Most Cuban women delay childbirth in order to continue their educations and careers. The Cuban demographic profile is nearly reverse of that of most other Caribbean and Latin American countries, where the age structure looks like a pyramid.  A pyramidic population  is a “Young Population,” which means there is a high fertility rate, and lots of kids. The pyramid-shape results from the fact that the mortality rate is very high. Most of the children in a “Young Population” will die-off before they reach adolescence.  As a result, the population narrows as the cohort gets older.

The Cuban age-structure is now comparable to that of other demographically aged nations, and not the younger Latin-American ones:  The Cuban population-base is narrow.  It “fattens” with the succession of years, because most people live longer than  ever before. Cuba’s population is aging, and along with that, a larger percentage of Cubans are approaching “advanced old age” (80+) than ever before.

cuba-grandpaThe Cuban government makes it easy to postpone having children. Family Planning is nearly free and medically safe abortions are easy to obtain. When children are born, the mother, or if the family chooses the father, is allowed one year paid leave. After that free childcare and nursery school is followed by tuition-free quality education, encompassing elementary and high school, university and professional schools. Physicians, engineers, scientists, as well as, teachers, artists, musicians, dancers and all other fields graduate debt-free. However, newly minted graduates enter a low wage job market that is still largely controlled by the state. As a result, many educated Cubans seek opportunities abroad as economic migrants in search of higher incomes. This partial brain drain contributes to the aging of the populations and creating a rift in the more comfortable patterns of elder care many Cubans have grown used to enjoying. In socialist Cuba, most families live in intergenerational homes or apartments that are owned free and clear of debt.

As a result, the Cuban family remains the most common source of support for the elderly. Cuban Seniors are culturally respected, and as required, they are cared for at home.

The government and/or the Catholic Church and other charities operate Casas Abuelos or so-called grandparents homes. These provide daytime recreational and cultural opportunities as well as meals, health and social services. The responsibility to ensure that elderly are not locked-in, ignored and depressed remains a community and governmental priority. Doctors and nurses and social workers regularly perform home visits. In the future the aging population will likely face new social dynamics as the economy opens up to private enterprise, which currently accounts for about 25% of GDP. Opportunities for buying and selling properties are increasing and  increasing numbers of mobile young Cubans are choosing to live separately or migrate in search of work abroad.

As more elderly people live alone, tools for remote care will become increasingly necessary, especially in families where the younger generation has moved overseas. Emergency alert systems will find a place and could readily be incorporated into the existing neighborhood heath care structure based on 24 hours on-call medical services. Such devices could become widely available following investments in building the necessary  technical and marketing infrastructures. The outdated US embargo, however, places US companies at a serious disadvantage. The Chinese, Canadians or Europeans are likely to dominate the field unless the Congress votes to end the embargo – the “white elephant” standing in the way of US-Cuban business opportunities.

Next week, Destination Mumbai, with  Ushma Mody. 

Contacts:  sfminkin@yahoo.com; rosenfej@newschool.edu

The Business of Aging: Aging & Innovation in Other Cultures

This week The Business of Aging kicks off an amazing series of articles from all over the world, curated by the very talented Jeffrey Rosenfeld, Ph.D. of Parsons School of Design. Join us each week as we highlight innovation from: Israel by Paula Adelman; Singapore by Ani Gregorian; Mumbai  by Ushma Mody; and Havana by Steve Minkin.

Edited by Jeffrey P. Rosenfeld, Ph.D.  Parsons School of Design, New York, NY

Overview:  It’s A Small World

Back in 1964, when I was still in my teens, I visited the World’s Fair, which was held that year in New York’s Flushing Meadows Park.  I’ll never forget my ride through the Disney Pavilion, on a journey celebrating the idea that “It’s A Small World After All.”

Visitors to the Disney Pavilion embarked on a magical journey to more than 75 nations. Visitors sat four-across in gondolas which each held about 40 people. Together we floated across Disney’s small world, serenaded by a farrago of singing, dancing  (robotic) children. Every nation was represented by children in national garb, who were merrily singing  “It’s A Small World After All,” in each of their native languages.

At the time, it had not dawned on me — and probably on most of the other people in our gondola — that those same nations could just as easily be represented by a chorus of costumed Seniors. Was this ageism, back in 1964?

In all fairness, this was a Disney production; and most of the world’s population was still under the age of 20.  It’s no wonder that back in 1964, most of us took it for granted that youth was the common experience that made it a small world after all. The social and demographic fact is that aging had not yet taken center stage.

its-a-small-world-disneyland

Inside The Disney Pavilion, It’s A Small World,  1964-1965 World’s Fair

More than 50 years later, the Disney lyric still rings true:  It is still very much a small world.  But it’s now a world which is  “Small” for different reasons. Today, ours is a world knit-together by two Master Trends that are compressing and unifying our social, technological and economic space. These are The  Silver Tsunami, and Globalization.

 

The Silver Tsunami, and Globalization:  Unifying and Compressing The World

It is familiar that the world’s population is now shaped more like a rectangle than a youth-heavy pyramid.  And now, more than ever before, the most influential ideas, technologies, products, and services for Seniors have gone global.  They flow worldwide, sometimes in a matter of hours. I am reminded, for example, of a Korean client of mine, living not far from Flushing Meadows Park, whose family was looking at ALF’s in Queens.  I recall that before they finally settled on one, they forwarded the information to Seoul, so that their Korean advisor could give them feedback.  They arrived at a decision within minutes of receiving his email from Seoul.  The most intimate and local of decisions had been shaped by our global connections.

What better place to celebrate this confluence of Aging and Globalization, than a publication like The Business of Aging?  This is a journal whose time has come.  It’s the voice of an economic sector that continues to be stimulated by The Age Wave, and energized by globalization.

What better way to acknowledge globalization than with a series called Learning from Other Cultures?

A Small World Then, and Now

The symbol of the 1964-1965 World’s Fair was the Unisphere.  Even the name underscored that this was one world, and a small one after all.  A glance at Figure 2 confirms that the Unisphere celebrated a world without national or political boundaries. The Unisphere was intentionally designed to make that very point.

unisphere_in_summer

 

There are no national or political boundaries on the Unisphere: 1964-1965 World’s Fair

Although it was created for the 1964-1965 World’s Fair, the Unisphere anticipated the impact of the Master-Trends being celebrated here,  more than 50 years later:  The power of the Silver Tsunami, and the emergence of global markets.  It is still a small world, but for very different demographic, economic, and social reasons.

Our 21st-Century Unisphere celebrates a world in which national and political boundaries are being eclipsed and reshaped by global forces.

Among the most significant of them are:

  • Rapid diffusion of ideas from West to East; and vice-versa;
  • “Floating Populations” which cross borders and boundaries permanently, seasonally, and                  voluntarily;
  • Educational exchanges, “Distant Learning,” and worldwide opportunities to study abroad;
  • The worldwide web, the now ubiquitous http://www , which turns 25 this year.
  • The acceptance of non-Western paradigms, such as Acupuncture, in Western medicine, and germ-theory in non-Western healing.

Together, these forces mean that ideas, innovations and products created in one corner of the world, can be available and accessible everywhere. This series, which is called Learning From Other Cultures,will be reporting on products, services and technologies which are very much a product of these global forces, and which promise to transform the lives and social worlds of older people.

For example, two of the future  installments in this series will focus, respectively, on a Senior-focused food-supplement from Singapore, and a Senior-Friendly mobile phone from India.  They, along with innovations described in other installments of the series, are part and parcel of a global economy built upon the needs and desires of older people.

Learning From Other Cultures will be an ongoing series.  It will showcase the business of aging as it transforms people and cultures worldwide.

Coming installments will celebrate:

  • The Total Lift Bed-Chair, a therapeutic device from Israel, which actually rotates 180-degrees and helps patients to sit-up, without getting out of bed; reported from Israel by Paula Adelman;
  • Health Food Matters, A line of food supplements from Singapore, which offer tasty new options for people who are restricted to easily swallowed and digested foods.  Believe it or not, the product-line even includes vitamin-packed sprinkles; reported from Singapore by Ani Gregorian;
  • A Senior-Friendly mobile-phone from Mumbai, which permits automatic dialing based on the photos of people listed in the phone’s Directory (Ideal for people who easily forget names and phone numbers); reported from Mumbai  by Ushma Mody;
  •  An overview of Cuba’s Casas Abuelos, or Grandparents Homes, which offer the best of Senior Day-Care and Assisted Living; reported from Havana by Steve  Minkin; and
  • A discussion of worldwide developments in the design of products and services for Seniors; reported by Jeff Rosenfeld.

Waiting in the wings, and still in development, are articles on The Business of Aging in Athens, Tokyo, and Buenos Aires.  It is still a small world after all.

Why do we celebrate Grandparents Day?

National Grandparents Day is celebrated the Sunday following Labor Day each year. Marian McQuade made it her mission to educate young people about the contributions of seniors and their importance in the community. She encouraged young people to adopt a grandparent, not just to celebrate the day, but for their lifetime. By 1978, led by Senators Randolph and Byrd, a resolution was passed by Congress and the proclamation signed by President Jimmy Carter. Marian knew what she was talking about. She had 15 children and 43 grandchildren!

Grandparenting, as a lifestage, stands out as the most positive transition in later life. If you examine the lifestages that occur after the age of fifty, most have to do with loss. Many grandparents see it as a continuation of their lives and families, even after they are gone. Others see it as a “do-over.” As busy parents they may have spent less time than they wanted with their children, but as grandparents they are available and happy to be with their children’s children.

grandparent-econ-THUMBNow that the Baby Boom generation is becoming grandparents, the sheer size of the market is compelling. There are more than 100 million people over the age of fifty. By 2020, 80 million older adults will be grandparents. That is one in three US adults will be in this lifestage. For marketers the grandparenting lifestage represents a huge opportunity.

First, marketers have to overcome outdated stereotypes of grandmothers with buns and rolling pins, or granddads in rockers. With $400 billion in spending on goods and services, adults 55+ are outspending younger consumers two to one online. Becoming a first-time grandparent is a huge trigger for spending. Recent studies, however, show that spending remains consistent as a grandchild ages. This has been more true since the recession and the gradual recovery. Where once grandparents helped with “extras” like trips, cars and education, more than half report helping their adult children with the expenses of everyday life – tuition, clothing, insurance and more.

The majority of Baby Boomer grandparents are more educated than previous generations, and are still working, with no retirement in sight. With increased spending on their adult children, these grandparents are often providing some type of care for elderly loved ones as well. Hence the term “sandwich generation.”

As we celebrate grandparents the social impact of having older adults in the lives of children is undeniable. Margaret Mead said, “Somehow we have to get older people back close to growing children if we are to restore a sense of community, a knowledge of the past, and a sense of the future.” Now it is time to recognize the financial contributions as well and respect their role as dynamic consumers across nearly product category.

To learn more about today’s grandparents and their role in lives of their families, get your copy of The Grandparent Economy, available now on amazon.com.

The Un-Stuffing Of America: The #1 Business Opportunity Serving The Boomer Population

Reprinted from MediaPost Engage Boomers

It isn’t a technology solution. It is decidedly low-tech. It’s not a medical device, but it does ease suffering. And while we sometimes joke about hoarding, older adults are buried in stuff — the accumulation of a lifetime (or two). The resistance to letting go of it is an enormous issue for caregivers, senior living providers and aging in place experts. Of all of the issues of caregiving, this one is the gift that literally keeps on giving.

I profess my expertise. 

I come from a long line of near-hoarders. My grandmother, who passed away at 98 on our family farm, was a collector — antique furniture, dishes, books, family photographs, recipes … she had my grandfather’s college report cards squirreled away! And I had the task of helping to empty her home and prepare for her estate sale. (Read that as two truckloads of stuff making its way from Missouri to my very small Bay-area home — including her restored Victorian baby carriage — because who doesn’t need one of those?)

My mother, whose basement was nearly at intervention stage, had a fire and her house burned down. She lost everything, but continues to joke that she saved us from the work of going through that stuff. The positive outcome was that she and my stepfather moved to a very livable, beautiful home in an age-targeted community with plenty of features for aging in their home.

Caregivers & Professionals

In our research with family caregivers, it isn’t medication management or fall prevention that keeps them up at night, though they care deeply about those things. It is their worry over what to do with all of their parents’ stuff. The conversations with their parents can be as precarious as the “time to give up the car keys” talk. At a time in their life when seniors are losing friends, giving up hobbies and freedoms, their treasures are very important. The irony is that seniors believe staying in their homes as long as possible is easing a burden on their children. The reality is that it shifts the burden from the finances of long-term care to extended time and expense of wrapping up their affairs after death.

Senior housing professionals know that stuff keeps older adults from moving to homes that are better designed for their needs — both physical and social. Aging-in-place professionals and occupational therapists know the dangers all of the stuff creates in the home. Caregivers tell us that the aftermath of losing a loved one is so complicated by the dispensation of stuff that their mourning and grief is put on hold sometimes for several years.

The data is the stuff that companies are built on

Two-thirds of 18-34 year olds value experiences over possessions. They don’t value or want the stuff. And if HGTV is any indication, they are buying tiny houses with the storage capacity of a file drawer. That’s if they can afford to buy a home at all. Perhaps it’s growing up with the stuff that has created this desire for a simpler existence.

I work with smart entrepreneurs who have brilliant ideas for apps and devices that serve older consumers, some more scalable than others. You want scale, consider this:

  • There are 50,000 storage facilities in the U.S. — five times the number of Starbucks. That’s 2.3 billion square feet.
  • 50% of storage renters are simply storing what won’t fit in their homes even though the average home size has doubled in that last 50 years.
  • Currently there are 7.3 square feet of self-storage for every man, woman and child in the nation. One in 10 Americans rents offsite storage. It’s the fastest-growing segment of the commercial real estate industry over the past four decades (New York Times Magazine)
  • 25% of people with two-car garages don’t have room to park cars inside them; 32% have room for only one car (U.S. Department of Energy)
  • The home organization industry, valued at $8 billion, has more than doubled since 2000 at a rate of 10% each year (Uppercase)

Services like moving, packing, estate sales and auction sites are fragmented and require time, trust, and oversight. Rarely are there services of social workers, gerontologists or care managers to start the conversations, provide resources or support family caregivers. But everyday there are millions of families are trying to figure this out. This is a service worth figuring out. (After I figure out which key goes to which storage unit.)

*Data aggregated by becomingminimalist.com 

The Hottest Start-Up Market? Baby Boomers

Reprinted and linked to: (CONSTANCE GUSTKE, New York Times)

Boris Mordkovich, a 30-year-old serial entrepreneur, had never considered developing products for the aging baby boomer market. One day, however, he saw that his parents had started using an electric bike that his brother Yevgeniy had modified for his wife and himself.

“Electric bikes are an equalizer,” said Mr. Mordkovich, who has also owned a software company and a small-business magazine. “They let the rider decide how much or how little they will pedal.”

This year, he said, Evelo, the electric bike company that he founded with his brother, will double its revenue to $4 million, and it is profitable. “There’s no shortage of potential customers,” he added.

The company is just one of many that are plugging into a wealthy slice of the over-50 demographic called the longevity market, whose annual economic activity currently amounts to $7.6 trillion, according to AARP.

 With an estimated 74.9 million baby boomers, according to Pew Research Center, the biggest market opportunity for start-ups is older Americans rather than hip millennials.  Keep reading . . .

Four Ways Your Wrong About Boomers

I am very proud to have received this great review from the National Association of Realtors for my book, The Grandparent Economy: How Boomers Are Bridging the Generation Gap. Following is the blog:

It seems everywhere you turn these days there’s some new diatribe against the generational focus of commentaries on society. It’s boomers attacking millennials attacking boomers… Heck, we even played an April Fool’s joke based on the trend a couple of weeks ago.

As someone who’s always bristled at generational stereotypes, I’m cheering those who are finally agreeing we need to stop playing the millennials vs. boomers card in the media (as no one talks about generation x anymore, that needn’t be halted of course). But as I was working on the upcoming feature for our May/June issue about how brokers are attracting the next generation of real estate pros, I found myself unable to avoid the term “millennial.”

Is your image of grandparents woefully outdated? Photo: bandini, Morguefile.

Are your ideas of grandparents woefully outdated? Photo: bandini, Morguefile.

That’s when I realized it has nothing to do with the terms; it’s the inaccurate stereotypes everyone should be finished with. And that’s why I really liked Lori K. Bitter’s The Grandparent Economy: How Baby Boomers Are Bridging the Generation Gap (Paramount Market Publishing, Inc., 2015). Not only is she seeking to help business owners and marketers better understand the boomer generation through the lens of grandparenthood using actual data, but she also busts a fair amount myths about boomers and grandparents in the process. Among them:

  1. Age and aversion to technology: Bitter says if you do an image search on grandparents in Google you’ll likely see “cartoon caricatures of couples with gray buns, sagging bellies and boobs, and canes… In reality, only 20 percent of grandparents are 75 or older.” She also points out that grandparents not only outspend other generations in traditional shopping environments, but they also “are outspending younger consumers two to one online… and they account for one in four mobile transactions.”
  2. Multi-gen housing as a temporary reaction to recession. Bitter, who was raised by her grandparents, points out that humans have been living with several generations under one roof since the beginning of civilization, and in many cultures around the world, it’s more common than it currently is in the United States. But as we become increasingly multicultural, it’s important to examine our biases and look at the facts: 2.7 million grandparents are raising small children on their own, and that doesn’t encompass the many who are sharing the task of raising children with the kids’ biological parents. She also points out that, far from being temporary, the trend will probably grow as people are living longer, and notes that grandfamilies occur in every area of the country and represent all income levels, races, and ethnicities.
  3. Midlife crises. Rather than fearing their advancing age, boomers are becoming less concerned with numbers as they mature. Bitter says this is the beginning of wisdom, or “the centered sense of the timelessness of all things.” She suggests thinking of marketing in the same way you might universal design: If you create something that can be used by anyone, it will be appreciated by everyone.
  4. The “Me Generation.” Bitter shows how the common trope of younger generations being full of themselves goes astray: All young people project that sort of bravado to a certain extent. “The images of self-entitled, self-centered, and materialistic boomers do not sit well, and the majority of those surveyed believe advertisers and reporters frequently get it wrong. From a developmental perspective self-involvement and materialism are features of a striving lifestyle typical of younger adults, which would be accurate for any generation, not just the Baby Boom.”

Though this isn’t a book specifically about real estate, Bitter includes numerous examples of housing communities that are successfully meeting the needs of this new batch of grandparents. And she clearly thinks highly of REALTOR® outreach to consumers: “Has an ad ever brought a tear to your eye? …Fast forward to the recent ads by the National Association of REALTORS® about the ‘American Dream of home ownership’ featuring a grandfather and his grandson. Mature consumers appreciate the art of a story well told.”

Now that’s a stereotype I think we can all live with.

Meg White

Meg White is the multimedia web producer for REALTOR® Magazine and administrator of the magazine’s Weekly Book Scan blog. Contact her at mwhite[at]realtors.org.

 

The Boomer economy: Caring has its costs

A lot has been written about Baby Boomers, who are doing a lot more to boost the economy than they are given credit for — a lot more — says author Lori Bitter.

Bitter, author of “The Grandparent Economy: How Baby Boomers are Bridging the Generation Gap,” says Boomers are not only taking in their parents, but sometimes several generations of family members who have not recovered from the Great Recession.

The problem, she says, is that they are doing it all at great peril to their own retirement.

“The real story is they may have two or three generations of people living in their homes that they were working their butts off to support,” she says. “This generation just gets bashed. When you see what is really happening. It is more interesting that the headlines and misunderstood labels.

“They are literally holding up the economy by taking care of families who haven’t made it through the recession too well, taking care of their elders and grandchildren,” she says. “Even if they aren’t totally supporting them, they are contributing to all those households.”

Not only are they endangering their own retirement by supporting family members, but they are also doing it at the expense of their own health, she says.

“Fifty is typically is where you have your personal health concerns,” she says. You look at your health in a different way. Middle-age people are managing a number of chronic conditions of their own. While caring for people at the older end of the spectrum or younger end, they’re managing doctor appointments of others, and push their own health care needs to the bottom of the list. They can see the decline of person they are they are taking care and simultaneously ignore their own health. We urge this population to take care of their own health. If their health problems get worse, the whole system breaks down.”

Come back to Silicon Valley for the annual Boomer Venture Summit

Plan to attend the longest running Venture event focused on the baby boomer consumer and the longevity marketplace. This year’s theme is Strategic Investment in the Longevity Market. It will be hosted on Wednesday, June 22nd, 2016,  9:00am – 6:00pm, at Santa Clara University, in the Music and Dance Building, Recital Hall.
Ken Dychtwald, visionary thought leader and author, will keynote this year’s Summit. This year’s agenda features invitation-only Bootcamps the day before the event, plus a Breakfast with Angel Investors with a research briefing early in the day. Favorite sessions, Pitch for Distribution, and Investment Priorities are featured, in addition to a new session titled “Elements of Success”  featuring: Ted Fischer, Vice President, Business Development, Hasbro; David Inns, CEO, GreatCall, Inc.; Andrew Gordon, Directing Animator, Pixar Animation Studios.

What is Retirement in the 21st Century – Does It Include Work?

By Gregg M. Lunceford, Doctoral Student – Case Western Reserve University

In 2011 America’s Baby Boomer’s began turning age 65 a rate of approximately 10,000 people per day[i]. Historically age 65 has been the milestone at which many people retire. Dictionary.com defines retirement as “the act of leaving one’s job, career, or occupation permanently, usually because of age”. This classic definition was more appropriate when retirement systems were created in the early 20th century to provide income for aging employees with diminishing work skills. When the Social Security Act of 1935 was drafted the average life expectancy for men and women were ages 58 and 62 respectively[ii]. By 2013 the average life expectancy for men and women in the U.S. increased to ages 76 and 81 respectively[iii].

Our increased longevity and improved health now allows for a wider range of lifestyle options therefore retirement is taking on new meaning. For many, retirement has become a career transition that includes work on different terms in the same profession, or the beginning of a new career[iv]. Work with flexible structures has led to “win-win” situation for retiring workers and employers as they recognized several benefits from working beyond retirement age. First, many individuals benefit from the socialization and feelings of accomplishment that come from work. Forty percent of individuals who completely retire from the workplace suffer from clinical depression and 6 out of 10 report a decline in health[v]. For many, work provides an outlet to continue to thrive and improve their well-being. Second, working in retirement allows many employers to maintain valuable knowledge individuals have developed over 30-40 year careers. Such individuals are often valuable mentors and can assist with succession planning and the training of younger employees in the workforce. Finally, Baby Boomers represent the largest cohort in the workplace. The complete exit of all them from the workforce at age 65 has the potential to create a human resource gap and limit overall productivity. The retention of Baby Boomers may help many organizations improve their productivity and become more competitive.

Given the overall benefits, it is important that society better understand what factors may predict an individual’s intent to work in retirement. In 2015, a study was conducted on retirement work intention[vi]. In the study 227 working individuals, of which 93% were age 50 or older, were surveyed to see what factors contributed to their decision to work in retirement. Our research showed that a person’s confidence in their ability, willingness to be adaptable and belief that they will have meaningful opportunities for work in retirement were all predictors of their intent to work in retirement.

Retirement has evolved and no longer means the complete exit from the workforce. Work with flexible options is becoming a rewarding lifestyle option for many retirees. Careful reflection on what activities will provide happiness and fulfilment should be considered in the retirement planning process and may lead to greater success in retirement.

[i] Synder, M. 2010, December 30. In 2011 The baby boomers start to turn 65: 16 statistics about the coming retirement crisis that will drop your jaw. End of The American Dream [online].

[ii] http://www.demog.berkeley.edu/~andrew/1918/figure2.html

[iii] http://www.cdc.gov/nchs/data/hus/hus14.pdf#016

[iv] Kim, J. E., & Moen, P. 2001, June 3. Is retirement good or bad for subjective well being. Current Directions in Psychologicial Science, 10: 83–86.

[v] Sahlgren, G. H. 2013. Work longer, live healthier: The relationship between economic activity, health and government policy. Institute of Economic Affairs: Discussion Paper #46

[vi] Lunceford, G. M. (2016, January). Retirement Values: What Factors Influence the Decision to Work in Retirement. Unpublished Doctoral Study at Case Western Reserve University . Cleveland, OH.

Unexpectedkindness is themost powerful,least costly, andmost underratedagent of humanchange

Gregg Lunceford, CFP® is a 24 year veteran in the financial services industry. Mr. Lunceford specializes in wealth management and works with clients on financial, estate and retirement planning issues. He currently, is a doctoral student at Case Western Reserve University in Cleveland, OH, and is studying how individuals make career transitions to retirement. Mr. Lunceford holds a MBA from Washington University in St. Louis, and a BBA from Loyola University of Chicago.

Email: gml56@case.edu

 

 

 

 

 

New Sessions, Great Keynotes – What’s Next Boomer Business Summit

Join me in Washington DC for the 2016 What’s Next Boomer Business Summit:  Seizing the Opportunity in the Longevity Economy. As Co-Producer of this year’s event, I can tell you that the sessions and keynotes have never been better. You don’t want to miss this opportunity!

This year’s event will be held on Wednesday, March 23, 2016, from 8- 6 pm at the Omni Shoreham Hotel – Washington, D.C., Shoreham Lobby Level (East Side) – Blue Room. Keynotes include: Jo Ann Jenkins, CEO, AARP; John Zogby, Founder, Zogby Analytics; and Rohit Bhargava, Founder & CEO, Influential Marketing Group.

With more than 20 sessions to choose from, there is are many opportunities to learn, network, and make a deal with a potential partner. Check out the agenda. To learn more about sponsorship, contact Mary Furlong at: furlong@aol.com.