Seniorprenuers start businesses at twice the rate of Millenials driven by their hobbies, lifestyle, necessity and innovation. To get started: Consider your passion – from baking, gardening, photography, crafting or education; Use your knowledge and experience; Hire freelancers when you don’t know how to do something (they have expertise, work job-by-job and are part of the “gig” economy); Consult your own network – you’ll learn from your personal and professional tribe; and Tap into entrepreneurial resources to get started.
Seniorpreneurs Start it Up
Seniorpreneurs, Silverpreneurs or Olderpreneurs are people who start businesses after age 50 like Matt and Karen Smith whose books about their adventures in National Parks are big sellers. Seniorpreneurs use their passion, expertise, networks and access to capital to start businesses. For more info on Seniorpreneurs click to ABC News, “Seniorpreneur” Movement Grows as Retirees Embrace Start-ups by Annette Marner and Khama Reid and to experience the beauty and fun visit Matt and Karen’s website.
Seasonal Workers Needed
Seasonal employers are hiring and hospitality companies appreciate workers over 55 due to their work ethic, interpersonal communications and problem solving skills. Captain Robie (age 79) loves his encore career, ”The boat is my office and when people are on vacation, their smiles are infectious.” Find job resources at aarp.com, monster.com, and indeed.com.
Your Next Job
Older workers looking for that next job, the expanding labor market is helpful yet it takes time. For unemployed 55+ it took 33.2 weeks to find a new job, while those 65+ was 31 weeks (all workers 22.7 weeks) as recently reported in forbes.com. For the data behind this recap go to Older Workers Need Further Labor Market Imporvements by Christian Weller, 1-4-2019
Technology And Aging
Technology may help us age easier. New products monitor home & movements, give medical feedback to your handheld device, prevent fall injury with hip airbags, retrain your brain and muscles, let you hear about everything and more. Read about these and other products recently seen at the annual Computer Electronics Show (CES) in Laurie Orlov’s blog Ten More Technology Offerings from CES 2019–Beyond Gadgets, aginginplace.org, 1-17-2019.
Are you a Seniorpreneur?
Are you a Seniorpreneur? People ages 55-64 are 2X as likely to start a business than Millenials and founders ages 50+ are 1.8X more likely to achieve upper tail growth than 30-year-old founders. Use your passion, networks, experience and other resources to get started. For more information click Age and High-Growth Entrepreneurship by MIT Azouay & Kim or Forbes.com Proof That The Most Successful Entrepreneurs Are The Older Ones by Kerry Hannon.
De-Age Your Resume
How to Age-Proof Your Resume and LinkedIn Profile Age discrimination has been reported to start as early as age 48. Take steps to de-age your resume by removing graduation dates (unless you have earned a current certificate or degree), omit Objective Statement, estimate years of experience to 20+, eliminate your physical address and more. Click the article link to read the whole article. Nancy Collamer, Work & Purpose Blogger, nextavenue.com, 10-1-2018
10 Industries Adding Jobs
Working benefits our pocketbook and our health. Money is flooding into these 10 industries that are adding jobs and thriving. They include: Technology, Health, Energy, Media, Consumer Retail, Media, Construction, Hospitality, Finance, Real Estate and Transportation. Emmie Martin, cnbc.com, 10-16-2018
15 In-Demand Jobs for Seniors Second career jobs for Seniors in this hot job market include: teaching high school & college classes; in-person & virtual assistants; child, home health & elder care; real estate agents or support staff; bus, taxi & Uber drivers, writers & authors; financial advisors & tax preparers and more. Emily Brandon, money.usnews.com, 5-8-2018
Maye Musk, 69, Is Now a CoverGirl Maye Musk, 69, Is Now a CoverGirl Maye Musk joins 61% of those surveyed who would like to work part-time after their main career. This photo is from when CoverGirl announced her as their new brand ambassador to target diversity. Ms Musk is age 69. Valeriya Safronova, The New York Times, 9-27-2017
How To Change Careers After 50 and Seize Success Your ENCORE career might include an industry change, a functionality change or both. Do some research, network in-person and online, consider getting a career coach or take classes for a current certification, plus more ideas from experts in this Forbes article. Richard Eisenberg, forbes.com, 6-26-2018
The Mixed Signals Businesses Send Older Workers With 5 generations in the workplace, aging is the last frontier for diversity and inclusion. Some benefits of older workers include: they are loyal and don’t job change, they embrace problem-solving, their “spill-over” aids co-worker productivity, they serve as genuine mentors, they strongly value customers, and they add to group unity. Patricia Milligan, Next Avenue Contributor, forbes.com, 5-4-2018
How Older Entrepreneurs Can Turn Age to Their Advantage Nearly 25% of new entrepreneurs are aged 55-64 (compared to 1997 at 15%), as reported by Entrepreneur Magazine. These entrepreneurs have decades of work experience, financial resources and professional networks. Roger St. Pierre, entrepreneur.com, 5-26-2017
A New Study Says Older Generations and Millennials Want the Same Thing in a Job-But That’s Not Entirely True It’s challenging to get hired as an older worker; first Millennials are more than half of the work force and employers rationalize they can hire two inexperienced workers for the cost of a seasoned one. A suggestion is for older workers to convey passion for the company’s mission and re-think their approach to interviewing in today’s environment. J.T. O’Donnell, Founder and CEO, WorkItDaily.com, Inc.com, 4-16-2018
How to Get A Job If Your’re Over 50 An interview recap with author, Lori B. Rassas, “Over the Hill But Not the Cliff” about the challenges and strategies of finding a new job over a certain age. Richard Eisenberg, Contributor, Next Avenue Contributor Groub, forbes.com, 5-1-2017
10 Great Part Time Jobs for Retirees 1)Teacher’s aide 2)Retail 3)Tour Guide 4)Driver 5)Non-profit work or volunteer 6)Blogger 7)Event staff or security staff 8)Personal assistant 9)Senior model 10)Athletics coach or assistant coach. businessadvicesource.com 11-01-2017
Workforce 2020: what you need to know With boomers choosing to continue working and digital natives becoming managers, new workplace strategies are emerging. Millennials are mentoring seniors on the use of social media, meantime experienced workers are coaching younger team members on face-to-face dealings especially when building trust and constructing long-term business relationships. Debra Donston-Miller, forbes.com, 5-6-2016
The Workplace Modern Elder Be a workplace Modern Elder…what the heck is that? Chip Conley shares his Inter-generational insights on simultaneously being a Mentor and an Intern : Listen, Trade skills, Continually Learn & be a Strategic Adviser. He complied this learning while working at Airbnb. Wisdom 2.0 video, 2017
The Suddenly Hot Job Market for Workers Over 50 With a low unemployment rate and new jobs being added to the economy, more companies are turning to experienced talent including boomers who are not ready to retire. Adults ages 55-70 are more likely to work now than in previous generations and companies are noticing that today’s retirees are more educated than past generations and they tend to stay in a position longer. The Bureau of Labor Statistics states that workers 65+ will be the fastest growth cell by 2024. cnbc, Julie Halpert, 3-20-2018
Ted talk: How I became an entrepreneur at 66 Paul Tasner describes his journey upon being fired after 40 years of continuous work;. Retirement was not an option and his passion to help the environment led him to launch a clean packaging company at age 66. Tasner offers great advice and inspiration. TED Residency, Nov 2017
Technology at the Next Door Develop a CAN DO attitude about technology. Use free online resources like The Senior’s Guide to Computers, TechBoomers.com, SeniorNet.org, Oasisnet.org and AARPTEK.org. fantastic55.com, 1-9-18
5 Ways Workers can Combat Age Discrimination 1)Work your network 2)Offer your services and share ideas 3)Maintain a polished image both in-person and online 4)Use 9999 when you don’t want to reveal your graduation year in online applications 5)Create your own job. Anne Loehr, fastcompany.com, 12-11-16
Suze Orman Says This is the Age You Should Retire-Not a Month or Year Before Suze says 70 is the new retirement age because of people living longer – healthy people in their 60’s have a 50% chance of living into their 90’s. Don’t take Social Security until you have to do so, lay a foundation to work later in life to enjoy a secure retirement. money.com 10-23-2017
4 Tips to Become a Consultant for Your Second Career Book author, Jonathan Dison’s The Consulting Economy: How to Manage Your Career in the Coming Workforce Revolution suggests that 1)Be Trusted 2)Become Indispensable 3)Know what skills are in demand 4)Know the tax benefits of being a consultant. 10-11-2017
Let’s Agree on An Age to Retire The average worker is now retiring later, so there are fewer jobs for younger workers. And the fact that mandatory retirement and age discrimination are illegal, cross-generation challenges arise. For people in their 50’s seeking a position, companies worry the risk is too big. The status quo is changing and in their new book being released Nov 1, Aging Thoughtfully: Conversations About Retirement, Romance, Wrinkles and Regret co-authors, Saul Levmore and Martha Nussbaum explore them. Wall Street Journal, 9-23-2017
Some people learn to code in their 60s, 70s or 80s Codecademy (www.codecademy.com) teaches online coding lessons and about 1 Million of their students are over 55 years old. Older coders are looking to develop new skills or start second careers. Check out coding classes by attending a meetup or searching online. Vivian Marino, The New York Times, 9-22-2017
Small Business Owners Are Retiring & Why Millennials May Not Fill The Gap on America’s Main Street Between retail internet pressure and a lack of loyalty from younger-higher consuming customers, store owners ready for retirement aren’t finding interested buyers. For mom & pop store owners, selling the store is critical to retirement income. The average age of a small business owners is over 50, so change will occur. Millennials are less entrepreneurial than in the past, possibly due to student debt and a low risk profile. Interestingly, entrepreneurship is rising among those 55 and older. Joseph Coughlin, Forbes, 9-16-2017
Working Later in Life: Hope vs. Reality, People say they want to keep earning income. The facts tell a different story. In a recent Gallop poll published May 2017, 31% of non retired adults said they plan to retire at age 68 or older. An Employee Benefit Research Institute study published in March, 38% of workers say they expect to retire at 70 or beyond. And in a report from the Federal Reserve, 38% of surveyed adults report they plan to work in retirement. However, the facts show that people stop working at age 61. Why? Workers’ plans are interrupted by health problems, layoffs, age discrimination, caring for a loved one, scarcity of jobs in your town. Glenn Ruffenach, Ask Encore, Wall Street Journal, 9-11-2017
How to get on a Board of Directors discusses the types of Boards, skills sought after asks potential members to reflect on topics of your personal values aligning with the organization, your skills, experience or expertise that might assist the organization, and the responsibility of time and money expected of Board members. Nancy Collamer, nextavenue, 9-11-2017
The Future of Work For People 50+ Will Surprise You, Richard Eisenberg helps us look ahead to 50+ in the workplace. In five years: 1) 32% of Americans age 65-74 will still be working by 2020 according to U.S. Bureau of Labor Statistics, up from 18% today. 2) Job flexibility between 50+ workers and companies will be normalized. 3) Those 50+ will take on “encore” careers. 4) Many boomers will volunteer which will act as a bonus to organizations and communities. In ten years: 1) The swell of retirees will pull together to maximize their efforts 2) Companies will create programs and accommodate older workers. 3) Millions of 50+ will move from full time to part time work. 4) Volunteering and service will become a status symbol. Further into the future: 1)Working into 70’s will be the norm. 2) Working “alongside” will take shape while working with artificial intelligence technology. 3) Pay equates to value-added. 4) Life, education, work and post-work will be intermittent and nonlinear. 5) Groups, organizations and clubs will rise up to facilitate older workers. 6) Those 50+ will leave a legacy of philanthropy both of time and money. Forbes, 2017
Caregiving is Forcing Women 50+ to Leave the Workforce presents summations from 18 years of study. About 1/3 of boomer women are currently caring for an elderly parent and women make up about 60% of the caregivers. This has a tremendous financial, emotional and physical impact on women. John Schall, nextavenue, October 10, 2016