BBG Ventures: Building something valuable for Americans

RETHINKING RETIREMENT We've been investing in the Future of Work since we launched BBG Ventures, targeting underserved segments like deskless workers (Anthill, OX) and solopreneurs (Topline Pro). Over the summer we spent time digging into another deeply underserved segment of the workforce: Boomers. By the end of this decade, the entire generation will have hit retirement age and, for the first time, Americans 65+ will outnumber those under 18. This has huge implications for every aspect of society, and it mandates that we start thinking differently about retirement. The question for all of us is this: Can we re-focus healthy Americans 60+ on a new phase of productivity, a “third act” that enables them to keep learning, keep earning, keep socially-engaged and contributing to the nation’s economic growth? And what role can AI play in helping every senior identify their unique skill set and personal priorities — and connect them with the right opportunities? We have some thoughts on how to make this happen, and we'd love you to give it a read, add your feedback, forward it to a founder who's working in this arena (or who you think might be intrigued), and share it! AgeTech has been too focused on death and decay; it's time we embrace longevity and give older Americans a way to keep working -- on their terms. cc: Carol Magalhães Isaacs, CFA Nisha Dua, Claire Biernacki, Drew Silverman Fennessy

Does traditional retirement still exist? Yes, that retirement construct still exists. Some people want to leave their job at 65 and move to a sunny state to hang out with their friends. That construct has never been disrupted or challenged until now. Re-imagineers, people who are reinventing a dynamic second half of life, have advocated for abandoning that outdated concept and have created a new version that happens later in life. The new retirement is a rewire to their next career. Many have focused on individualized entrepreneurialism, going back to school, following their previous passions and building a bigger life for themselves. They are driving the new longevity economy.

44% of Gen Z say they expect to retire by the time they are 60 years old. With these ambitious goals, members of Gen Z should understand the benefits of saving now to be well-positioned for a comfortable retirement. This group, born between the mid- to late 1990s and early 2010s, are likely just beginning their careers, but are already expecting to retire earlier than those of previous generations. At Huvane Wealth Management we have assisted Gen-Z & Millennials position and strategize retirement & goal setting through financial planning. If you or a loved one would like to learn more, please reach out. Please click the link below to learn more! I hope this is helpful!

Why Retirement At 65 Is The Start Of A New Chapter, Not The End! The aging of #America is more than just a demographic shift—it's a profound opportunity. By 2030, every #Boomer will have hit #retirement age, and Americans 65+ will outnumber those under 18. This seismic shift will reshape our society, but instead of bracing for the impact, we should be asking ourselves: How can we redefine what it means to age? BBG Inc. Ventures published their findings and have been exploring the implications of this transformation. They see an opportunity to reimagine the "Third Act"—a phase of life where people continue to learn, earn, and contribute long after traditional retirement age. Read my thoughts in Forbes: https://lnkd.in/dSru5hpe

How Changing Roles in Retirement Can Boost Self-Esteem by Elizabeth Zelinka Parsons Whether we realize it or not, the roles we play in life often shape critical aspects of our identities and therefore have a significant effect on our “self-regard” – meaning our overall sense of self-worth and self-esteem, which can run along a continuum of positive to negative. With a high level of positive self-regard, we… Read More The post How Changing Roles in Retirement Can Boost Self-Esteem appeared first on Encoraco. #boomers #babyboomers

I am thrilled to share our latest episode of Market Mythbusting, focusing on a crucial topic for all women! Joined by the fantastic Anne Ackerley, we're shattering misconceptions about women and retirement planning. From the gender pay gap and caregiving responsibilities to potential innovative solutions like target date ETFs, we tackle the pesky myths hindering retirement preparation and provide actionable advice to help you empower your financial future. Women face unique challenges in retirement planning, but remember, it's never too late to start! Tune in below to hear more about the insights and tools needed to plan effectively for retirement, wherever you are in your journey.

Great to see our latest analysis in collaboration with Phoenix Group now published. This piece dives deep into the pressing issue of retirement undersaving, showing that by the 2040s, 6 out of 10 entering retirement with a Defined Contribution pension will be retiring with either less than they expect, or less than they need. Click on the link below to find out more

"Michael Clinton('s) best-seller (book) 'Roar: Into the Second Half of Your Life (Before It’s Too Late)' ... examines how the concept of retirement, which is around a century old, is changing as people embark on second (or third) acts... The book hit an unexpected nerve with readers and was the catalyst for creating Roar Forward, in partnership with the Hearst Corporation, his former employer. An online platform to access newsletters, content and storytelling, Roar Forward focuses on 'individuals aged 50 and over who are redefining the second half of life in their careers, passions and lifestyles,' said Mr. Clinton, 70, who includes himself among the growing cohort of people he calls 're-imagineers.' ... Mr. Clinton ... recently sat for an interview about the retirement evolution. The interview has been edited and condensed. ... 𝐃𝐨𝐞𝐬 𝐭𝐫𝐚𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐬𝐭𝐢𝐥𝐥 𝐞𝐱𝐢𝐬𝐭? Yes, that retirement construct still exists. Some people want to leave their job at 65 and move to a sunny state to hang out with their friends. That construct has never been disrupted or challenged until now. Re-imagineers, people who are reinventing a dynamic second half of life, have advocated for abandoning that outdated concept and have created a new version that happens later in life. The new retirement is a rewire to their next career. Many have focused on individualized entrepreneurialism, going back to school, following their previous passions and building a bigger life for themselves. They are driving the new longevity economy. ... 𝐖𝐡𝐚𝐭 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭𝐢𝐚𝐭𝐞𝐬 𝐚 𝐟𝐢𝐫𝐬𝐭 𝐜𝐚𝐫𝐞𝐞𝐫 𝐟𝐫𝐨𝐦 𝐚 𝐬𝐞𝐜𝐨𝐧𝐝 𝐨𝐧𝐞? The first career is what we were 𝘵𝘰𝘭𝘥 to do. The second is what we 𝘸𝘢𝘯𝘵 to do. My generation were linear and stayed in the same industry. Most people made a practical decision and followed a specific career path; the building blocks of a secure life. A second career is based on passion from your younger self, or a new passion you developed in the course of your first career. Reclaiming what you left behind in your younger self that you always wanted to do is the second career.” (words in bold and italics in original) Alix Strauss, Reimagining a Retirement Fit for Boomers, and Those Who Are Next in Line—The people who grew up with the Mouseketeers are now becoming re-imagineers. A Q. and A. with Michael Clinton, author of a book about second acts, 𝘕𝘦𝘸 𝘠𝘰𝘳𝘬 𝘛𝘪𝘮𝘦𝘴, 20 June 2024, https://lnkd.in/gAHEgqjr

A few stats from one of the most comprehensive studies I've come across about the outlook of women's retirement. This was conducted late last year by TransAmerica. Let's work together for a change! #womensretirement

In the face of change, we hold the power to shape our destinies. As professionals and forward-thinkers, the concept of retirement is evolving, guided by our aspirations for a life marked by abundant health, financial independence, and the freedom to explore new vistas. Step Above is at the forefront, enabling individuals aged 40-65 to redefine retirement as a beginning, not an end. Harnessing change as a catalyst, let's pioneer paths to early retirement replete with vitality and adventure. Join us in sculpting a future where every moment counts. DM us: Join #StepAbove #RedefineRetirement #LeadersInChange