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Thursday, October 30, 2008

Retirement work – a fast growing market

There has always been a need for older people to seek new types of employment when they depart their final employer – even if that employer was themselves. Some did it for fun some did it because they needed the extra cash. The events of the past few months means a lot more older people will be doing it for latter reason.

This article provides an insight into the situation in the US. AARP saw dramatic evidence of the demand for knowledge, about working past retirement, when 2,000 people attended its September annual job fair, more than double the previous year's attendance. The UK is in a very similar position. Lots of older people gazing at their pension's statement wondering how the hell they will fund the next 20 years.

This demand for income generating activities is an opportunity in its own right. One UK organisation that is recognising the need to equip the older citizen with enterprise skills is the Government. I will be writing about this is more detail in the near future.

For today I suggest that accountants, franchising operators, recruiting companies …. recognise this market demand and start focusing on the older post-retirement worker. Dick Stroud

2 comments:

Ross Parker said...

I think that many boomers can dig into their past experience and come up with some specialty to leverage in these times. I see more seniors/boomer starting their own businesses to sustain them into retirement. Who wants to wonder "How the heck will I fund the next 20 years"? Better to be doing something about it.

Cathy Warren said...

The reality is that Boomers and Seniors either retired or near retirement are finding it necessary to supplement their incomes in-order to maintain their current standard of living. The mind-set is changing about retirement. Remaining productive and in the mainstream has many advantages, financial stability is one, and self fulfilment is another. These experienced and knowledgeable people continue to contribute to society on every level.

Social networking is a great resource. Networking allows them to share ideas and strategies regarding retirement. Baby Boomers and Seniors are finding the Internet a great source for networking and self-reinvention. These resources are gearing toward retirees and those facing retirement, offering avenues to create supplemental income as rising costs affect their savings. If you are interested in personal reinvention through social networking, please visit www.Over60exchange.com .