Operations

Baby Boomers Pushing Off Retirement, Pursuing Encore Careers

LCT Staff
Posted on June 25, 2008

WASHINGTON, D.C. – A growing number of baby boomers are shunning retirement by pursuing late-life second careers that combine social goals and extra income, a new study finds. According to a survey of 3,500 Americans aged 44 to 70 by Washington D.C.-based D. Hart Research Associates, up to 8.4 million baby boomers are embarking on so-called "encore" careers, with many turning to the nonprofit, education, and health sectors.

"Encore careers provide personal fulfillment, while also offering tremendous gains for society," Marc Freedman, founder and CEO of Civic Ventures, a baby boomer trends think tank that partnered in the study, said in a statement. "Instead of encouraging people to leave the workforce, encore careers inspire people to stay longer to help their communities and fill vital workforce shortages," he said.

Eight out of 10 survey respondents who were considering a second career said they were concerned about finding work that didn't cut into their free time. Yet over 70% of those already in encore careers said they found the flexibility they wanted, while nearly 80% reported receiving the pay and benefits they needed. Only 40% said their new careers required further education and training, the survey found.

Source: Inc.com

LCT Staff LCT Staff
Comments ( 0 )
More Stories
Article

How To Get Clients To See Value In Your Rates

NOV. LCT: We fear our own prices when comparing ourselves to TNCs, but we don’t compete with them any more than Marriott does with a Motel 6. Learn how to justify your rates without guilt.

News

2018's Luxury Travel Trends

Among the highlights for next year is a focus on far-flung destinations along with international trips of two weeks or more.

Article

The Art Of Sales

NOV. LCT: In the battle to obtain new clients and retain loyal ones, only those who know the best ways to reach, connect with, and educate them will survive.

Article

How To Handle Conflicts Of Interest

NOV. LCT: Forming relationships with your customers is a vital part of retaining them. But how do you ensure you and your employees never cross the line of professionalism?