Scott Talan’s Post

From Mouseketeers to re-imagineers! Discover how baby boomers are redefining retirement in this Q&A with Michael Clinton, author of a book about second acts. #RiversEdge #luxuryseniorliving #seniorliving #lifeplancommunity #nyclifeplancommunity #retirement #reinventingretirement #retirementreimagined

"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 Re-imagineers, people who are reinventing a dynamic second half of life, have advocated for abandoning that outdated concept and have created a new version that happens later in life.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

At BBG Ventures we continue to think about changing demographic shifts and the groups of overlooked Americans at the centre of those shifts. We ask: what are the opportunities to build something valuable for those groups across the biggest areas of the economy to drive prosperity, growth and wellbeing for all Americans, not just some. Future of Work and underserved workers is an arena we've long dug into. This summer, my partner Susan Lyne and investor Carol Magalhães Isaacs, CFA went deeper on Boomers - by 2030, Boomers will outnumber under 18s - living longer, working longer, spending longer - what will their Third Act be? How might AI supercharge their productivity? Check out their post below and share your thoughts with us. Longevity and Prosperity > Death and Decay. If you're building at the intersection of Aging x Work reach out!

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

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!

As parents, we want to set our children up for success—whether by sharing lessons we’ve learned in our own lives, or by conveying information we think may be helpful. That’s what I’ve tried to do with my son, but in the end our children are free to make their own choices, and we are not their only influence. This point is reinforced in a new report from TIAA Institute. It finds that 61% of Gen Zers look to their parents for financial guidance, but many Gen Zers are nonetheless redefining the concept of a career and retirement. For more on Gen Z’s perspectives, watch this video featuring the Institute’s Sofia Raymond and check out our report. https://lnkd.in/eFqfqB_S #GenZ #retirement #lifetimeincome

In my view, now that healthy people are able to make positive contributions well into their 80's, we should not be looking to "retire". Rather we should treat the time when we stop full time work as just another career transition. To have a successful life after you cease full time work requires exactly the same thinking and investigation process that works when we face any career transition. I set out this process in my book: "BUILDING A WINNING CAREER".

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

Advisors - People are postponing their retirement from jobs they don't truly enjoy and are underspending in their retirement years. I believe one of the core reasons is because they have a lack of clarity & motivation. And, I don't mean financial clarity (even though that is a crucial part as well). I mean that so many people are unclear on the priorities of their lives... They continue to go through the motions without ever stopping to define their dream lives. Often, it's because they're "too busy." But, I rarely buy that. We all have 24 hours in a day. We're ALL busy. It's something much deeper within that is causing this. What do you think are the reasons why people who clearly can afford to retire continue to work at stressful jobs that they don't enjoy? Why do you think many savers end up shortchanging their retirements by underspending and then typically dying with millions and regretting it? #financiallifeplanning #wealthmanagement #retirementplanning

As Generation X, born between 1965 and 1980, approaches retirement, many face significant financial challenges. Often dubbed the "forgotten generation," the oldest Gen Xers will turn 60 next year, but many are unable to retire. This generation entered the workforce during a major shift from pensions to 401(k) plans, leaving their retirement security in their own hands. The 2008 financial crisis and ongoing student debt troubles have compounded these challenges. With adult children living at home and aging parents needing care, financial strain is prevalent. Alarmingly, Gen Xers are currently worse off financially than their baby boomer counterparts, with a median household net worth of $250,000 in 2022—7% lower than that of baby boomers at the same age in 2007. #GenerationX #Retirement #FinancialChallenges #EconomicReality #StudentDebt #WealthInequality #AgingParents #CareerShift #PensionCrisis https://lnkd.in/ghzK-9zs