A couple of weeks ago Ellen Griffin, Dean of Continuing Education at Southern New Hampshire University, was a guest on my radio show. The discussion was the increase in baby boomers returning to the classroom, the reasons and the opportunities.
Many are returning to school to increase career opportunities in their current profession, graduate program enrollees have increased as well as certificate programs, others are returning to school in preparation for a career change. People are expecting to stay in the workforce longer, whether it is at their current job or a new career, and keeping current with your industry and increasing your value is necessary to remain competitive.
The ease of learning may also contribute to the rise in boomer enrollment, satellite campuses, workplace classrooms and online courses make it easier to participate and complete study programs. It is possible to complete a degree program online without leaving your house or setting foot in a classroom.
Boomers who attend a live classroom bring something to the table their younger classmate’s lack, real life experience with the subject matter. This can be a plus to someone, who is learning the theoretical workings of an issue, to have the opportunity to hear firsthand the actual application of the theory.
One area in particular that has attracted the attention of baby boomers is community service, this generation has a “give back” attitude and there is interest in bringing their management and leadership skills to the non-profit area.
A Boston Globe article on September 13, 2009 referred to the fact that people are expecting to stay in the workforce longer and fifty year olds consider themselves mid-career. The number of Americans over 65 is expected to grow to 20% of the population by 2030 and to continue to increase meanwhile the younger generations will grow at a slower pace. This will open up opportunities for older workers to continue to stay in the workforce, keeping current through education and training will strengthen their position value.
Showing posts with label longeveity. Show all posts
Showing posts with label longeveity. Show all posts
Monday, November 9, 2009
Tuesday, October 13, 2009
Make Sure Your Assets are Covered
Two weeks ago I invited Chuck Worcester, owner of Hometown Insurance, to be a guest on my radio show to talk about the importance of property, casualty and liability insurance. Having Chuck on was a good reminder to incorporate a risk management strategy as part of your total financial plan and, like the other strategies, needs monitoring and updating.
Often home and auto insurance coverage once established are put on autopilot and ignored until filing a claim becomes necessary. It is important to meet with your insurance agent and review the risk management strategy of your financial plan annually. Maintaining the proper coverage for you assets is critical to protect against damage, injury, or claims against you.
As part of the annual review of your coverage, you should:
1) Make sure your coverage is adequate for your assets and make sure all assets that need insurance coverage are covered. Your life changes and so do the assets you own, keep your agent aware of purchases that will require insurance and make sure they are covered.
2) Make sure your agent knows how certain properties will be used (business or property) and who will be using it (employees, family, etc). This is especially important when you are insuring vehicles and equipment or allowing others access to use your property.
3) Make sure you have adequate liability coverage. Insuring against a piece of property being damaged or stolen is not enough you need to have coverage for damage and injury to others. A large claim or lawsuit against you may exceed your policy’s coverage consider a separate liability umbrella policy for greater protection.
4) Make sure you are getting the best coverage for your dollar. Have your agent compare rates and coverage but remember cheapest is not always best.
Losing the use of property due to damage or a lawsuit against you due to negligence, injury or damage to other’s property can be devastating. You can’t control all the risks out there, accidents happen but you need to be prepared, and maintaining an active risk management strategy can offer protection. Don’t ignore this critical strategy from your financial plan.
Often home and auto insurance coverage once established are put on autopilot and ignored until filing a claim becomes necessary. It is important to meet with your insurance agent and review the risk management strategy of your financial plan annually. Maintaining the proper coverage for you assets is critical to protect against damage, injury, or claims against you.
As part of the annual review of your coverage, you should:
1) Make sure your coverage is adequate for your assets and make sure all assets that need insurance coverage are covered. Your life changes and so do the assets you own, keep your agent aware of purchases that will require insurance and make sure they are covered.
2) Make sure your agent knows how certain properties will be used (business or property) and who will be using it (employees, family, etc). This is especially important when you are insuring vehicles and equipment or allowing others access to use your property.
3) Make sure you have adequate liability coverage. Insuring against a piece of property being damaged or stolen is not enough you need to have coverage for damage and injury to others. A large claim or lawsuit against you may exceed your policy’s coverage consider a separate liability umbrella policy for greater protection.
4) Make sure you are getting the best coverage for your dollar. Have your agent compare rates and coverage but remember cheapest is not always best.
Losing the use of property due to damage or a lawsuit against you due to negligence, injury or damage to other’s property can be devastating. You can’t control all the risks out there, accidents happen but you need to be prepared, and maintaining an active risk management strategy can offer protection. Don’t ignore this critical strategy from your financial plan.
Tuesday, September 15, 2009
Health Planning is Retirement Planning
I try to keep a regular weekly exercise schedule, running 3-4 miles three times and lifting weights two or three days. I exercise because at fifty-five years old I understand the benefits of being healthy more energy, lower blood pressure, stronger heart, and hopefully the ability to live a long and active life.
All the talk and concern about health care costs makes me wonder why we aren’t more pro-active about taking control of our own healthy lifestyle. Watching what we eat, regular exercise, and following our doctors instructions can add to our “quality of life” as we get older.
Taking control of your lifestyle health is more than a handful of vitamins and a walk around the block. It takes work, changes, and maybe some sacrifice, but the rewards will be worth it. You will feel better, confident, and in control; imagine losing 20 pounds and shopping for a new outfit because your old ones are too big. How about having the energy to play catch with your children or grandchildren when they visit?
If you have already made the commitment to yourself to be healthy, don’t stop or slow down. If you are ready to make some changes to your lifestyle there are steps you should follow:
1. Before beginning any exercise program or lifestyle changes consult your physician. Discuss your intentions and ask about any restrictions, limitations or concerns the doctor may have, if diet changes are needed ask for a recommendation to a dietician or nutritionist.
2. Work with a trainer, if you are unfamiliar with setting up an exercise program. Let the trainer know what you want to accomplish, (lose weight, lower blood pressure etc), and any concerns from your doctor. Work together to set goals, short and long term.
3. Realize that creating a healthy lifestyle is more than dieting to lose ten pounds before your high school reunion. Just like a financial plan your plans to create a healthier lifestyle must have strategies that are implemented, monitored and tweaked as time goes on.
Exercising and maintaining a healthy lifestyle doesn’t guarantee we will live longer or healthier but it certainly increases the odds. By taking care of our health we can extend the quality of life needed to enjoy the later years of life. I saw a great quote the other day “it is not how long you live, it is how you live long.”
All the talk and concern about health care costs makes me wonder why we aren’t more pro-active about taking control of our own healthy lifestyle. Watching what we eat, regular exercise, and following our doctors instructions can add to our “quality of life” as we get older.
Taking control of your lifestyle health is more than a handful of vitamins and a walk around the block. It takes work, changes, and maybe some sacrifice, but the rewards will be worth it. You will feel better, confident, and in control; imagine losing 20 pounds and shopping for a new outfit because your old ones are too big. How about having the energy to play catch with your children or grandchildren when they visit?
If you have already made the commitment to yourself to be healthy, don’t stop or slow down. If you are ready to make some changes to your lifestyle there are steps you should follow:
1. Before beginning any exercise program or lifestyle changes consult your physician. Discuss your intentions and ask about any restrictions, limitations or concerns the doctor may have, if diet changes are needed ask for a recommendation to a dietician or nutritionist.
2. Work with a trainer, if you are unfamiliar with setting up an exercise program. Let the trainer know what you want to accomplish, (lose weight, lower blood pressure etc), and any concerns from your doctor. Work together to set goals, short and long term.
3. Realize that creating a healthy lifestyle is more than dieting to lose ten pounds before your high school reunion. Just like a financial plan your plans to create a healthier lifestyle must have strategies that are implemented, monitored and tweaked as time goes on.
Exercising and maintaining a healthy lifestyle doesn’t guarantee we will live longer or healthier but it certainly increases the odds. By taking care of our health we can extend the quality of life needed to enjoy the later years of life. I saw a great quote the other day “it is not how long you live, it is how you live long.”
Monday, August 31, 2009
How Will They Remember You?
I have gotten into the habit of reading the obituaries in the newspaper each Sunday morning, I jokingly tell people I am checking to make sure my name isn’t listed. There are two types of listings; on the first page the listings are informational name, date of birth, family and arrangements, listings on the second page are more biographical, they mention accomplishments, honors and awards.
I rarely look at the names on the first page, I go straight to the second page, it isn’t that I am interested in who has died but what is written about them. As I read their obits, I think about how I would like to be remembered.
Last week my wife’s father died, his obituary mentioned his wife and family, his time in the military, and his work history, but not much about him.
At his wake, there were some tears but, a lot more smiles laughter and story telling. Children, grandchildren, nieces, and nephews all had stories about Fred. How he started a fishing club with a disgusting initiation involving fish guts, and taught them limericks about the, “man from Dundee”. Camping trips, bonfires so big they could be seen from outer space, the annual golf outing (which still continues 24 years later) and more practical jokes and quotes than I can list, eighty-seven years worth.
There were no secrets about how his family felt, they will miss Fred, but whenever any members of his family get together they will remember one of his stories, or recite one of his famous sayings, and then they will laugh.
I didn’t have the chance to know Fred well, I met him after Karen and I had started seeing each other six years ago, his hell-raising days long past, most of what I know of Fred comes from the stories told.
Next week when I read the obits and think about how I’ll want to remember me when I’m gone I will think of this: it is nice to have a big fancy write-up about your life but will you be remembered a week later when the paper has been thrown out? I like the way people will remember Fred they will be telling his stories long after the newspapers have decomposed.
I rarely look at the names on the first page, I go straight to the second page, it isn’t that I am interested in who has died but what is written about them. As I read their obits, I think about how I would like to be remembered.
Last week my wife’s father died, his obituary mentioned his wife and family, his time in the military, and his work history, but not much about him.
At his wake, there were some tears but, a lot more smiles laughter and story telling. Children, grandchildren, nieces, and nephews all had stories about Fred. How he started a fishing club with a disgusting initiation involving fish guts, and taught them limericks about the, “man from Dundee”. Camping trips, bonfires so big they could be seen from outer space, the annual golf outing (which still continues 24 years later) and more practical jokes and quotes than I can list, eighty-seven years worth.
There were no secrets about how his family felt, they will miss Fred, but whenever any members of his family get together they will remember one of his stories, or recite one of his famous sayings, and then they will laugh.
I didn’t have the chance to know Fred well, I met him after Karen and I had started seeing each other six years ago, his hell-raising days long past, most of what I know of Fred comes from the stories told.
Next week when I read the obits and think about how I’ll want to remember me when I’m gone I will think of this: it is nice to have a big fancy write-up about your life but will you be remembered a week later when the paper has been thrown out? I like the way people will remember Fred they will be telling his stories long after the newspapers have decomposed.
Monday, August 10, 2009
Time For a Plan Review
We are a little more than halfway through summer and it has been an odd one to say the least. Here in New England June and July were rainy and raw. Now that August has arrived, it seems as though summer is finally here, hopefully it will last into September and October.
Since many of us take advantage of down time to recharge and regroup during the summer, this is a good time to set aside a bit of time to review your life/financial plan. Some of the areas you want to touch on are:
1. Personal goals and timelines; are you still on track or do you need to extend or adjust your original thoughts?
2. Finances; are your investments and savings strategies aligned with your goals? Have you reviewed your current cash flow; is it in line or are you running a deficit each month? Do you foresee any major expenses or windfalls in the near future?
3. Are you maintaining enough insurance on your life and property?
4. Have you created an estate plan and have you reviewed it recently? Review your wills, trusts, and beneficiaries every few years to make sure they are current with your wishes.
5. Have you considered a Power-of Attorney for finances, Power-of Attorney for health care, and Living Will?
These are just a few of the topics that make up a life/financial plan, your situation and needs determine priority. Remember your plan is not a static document, life changes, tax and law changes, good events, and bad events will all cause an adjustment in your plan.
Since many of us take advantage of down time to recharge and regroup during the summer, this is a good time to set aside a bit of time to review your life/financial plan. Some of the areas you want to touch on are:
1. Personal goals and timelines; are you still on track or do you need to extend or adjust your original thoughts?
2. Finances; are your investments and savings strategies aligned with your goals? Have you reviewed your current cash flow; is it in line or are you running a deficit each month? Do you foresee any major expenses or windfalls in the near future?
3. Are you maintaining enough insurance on your life and property?
4. Have you created an estate plan and have you reviewed it recently? Review your wills, trusts, and beneficiaries every few years to make sure they are current with your wishes.
5. Have you considered a Power-of Attorney for finances, Power-of Attorney for health care, and Living Will?
These are just a few of the topics that make up a life/financial plan, your situation and needs determine priority. Remember your plan is not a static document, life changes, tax and law changes, good events, and bad events will all cause an adjustment in your plan.
Monday, August 3, 2009
Living Longer and Retirement Planning
Last week I watched a video about the oldest practicing lawyer in India, he is 99 years and has been practicing law for 74 years. He will not take any new cases, but he has 15 left to finish this year then, at the age of 100 begin a “long and happy retirement.”
Today this is considered an oddity but, could it become the norm at some point? The world population is getting older, the number of people 65 and older is expected to increase from 516 million in 2009 to 1.53 billion in 2050, according to data released by the US Census Bureau.
The number of centenarians (100 years) has increased to more than 340,000 worldwide versus a few thousand in the fifties. By midcentury, the number of centenarians in the US could grow from 75,000 to 600,000.
Advances in medicine, healthcare and education concerning lifestyle choices have been big factors in longer living. Problems like heart disease, and many types of cancer a few years ago were the beginning of the end, now with proper treatment and monitoring they have become health issues rather than life-ending.
As a segment of the population grows fast another slows down, while the age group over 65 is expected to see a jump by 2050, the group under 15 years old will grow at a much slower rate, from 1.83 billion to 1.93 billion. In 2017, the number of people over 65 will exceed the number under age 5.
The aging population will stress Social Security, Medicare and health services, while the disappearance of pensions and lack of savings for retirement will them modifying their original thoughts of retirement. Longer and healthier life expectancies will find people working longer at their current job or starting a new career to provide income, benefits, or to remain active will be the norm rather than the exception.
Today this is considered an oddity but, could it become the norm at some point? The world population is getting older, the number of people 65 and older is expected to increase from 516 million in 2009 to 1.53 billion in 2050, according to data released by the US Census Bureau.
The number of centenarians (100 years) has increased to more than 340,000 worldwide versus a few thousand in the fifties. By midcentury, the number of centenarians in the US could grow from 75,000 to 600,000.
Advances in medicine, healthcare and education concerning lifestyle choices have been big factors in longer living. Problems like heart disease, and many types of cancer a few years ago were the beginning of the end, now with proper treatment and monitoring they have become health issues rather than life-ending.
As a segment of the population grows fast another slows down, while the age group over 65 is expected to see a jump by 2050, the group under 15 years old will grow at a much slower rate, from 1.83 billion to 1.93 billion. In 2017, the number of people over 65 will exceed the number under age 5.
The aging population will stress Social Security, Medicare and health services, while the disappearance of pensions and lack of savings for retirement will them modifying their original thoughts of retirement. Longer and healthier life expectancies will find people working longer at their current job or starting a new career to provide income, benefits, or to remain active will be the norm rather than the exception.
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