Companies these days are looking to fill the management ranks with people who are “digital natives,” which frequently translates to millennials and Gen X-ers. Meanwhile, more baby boomers are staying on the job longer, and some retirees, looking for a second act, are rejoining the ranks of the employed, at least part time. Consequently, the odds are increasing that older workers will be answering to managers young enough to be their children.
“The context of aging and work is changing,” said Jacquelyn B. James, a psychologist and co-director of the Center on Aging and Work at Boston College. In addition to health and longevity, she said education is a factor. “This is one of the most educated generations in history,” Dr. James said. “A lot of the jobs people are continuing in are fields in which you use the mind, not the body.”
As we live longer, our society is being transformed in ways we couldn’t have imagined. It’s vital that individuals and businesses recognize the tremendous potential of this longevity revolution. Far from being an economic challenge, our aging population could generate the most significant economic opportunity of our lifetime.
Facing five times the debt of previous generations and relatively small savings, many retirees are making fundamental lifestyle changes; Ms. Wolf trades California for Iowa.
President Donald Trump has begun killing off an Obama-era retirement-savings rule unpopular with Republicans and some financial-industry executives who say it would harm consumers more than help.