America Has Never Had So Many 65-Year-Olds. They’re Redefining the Milestone.
Almost 4.1 million 65-year-olds will retire this year. Yet in our new survey from The Harris Poll and Age Wave featured this weekend in The Wall Street Journal, many are thinking of retirement as anything but a winddown.
It’s a new chapter:
“Being 65 is not just thinking about who you were, but what you might become in a new chapter,” says Ken Dychtwald, CEO of Age Wave, a California-based consulting firm specializing in aging-related issues in Clare Ansberry's reporting (Ansberry Clare).
Keep on working:
True, far from the traditional shuffleboard stereotype, today’s new retiree is saying, “I can’t drive 65. " Data from Pew shows that close to two-thirds of 65-and-older employees are working full time, compared with nearly half in 1987.
More discretionary spending:
And the medium net worth of 65-74-year-old households (adjusted for inflation) was $410,000 in 2022, up from $283,000 in 2010, according to the Federal Reserve.
Have a purpose:
Another important trend is turning inward rather than chasing fading youth or beauty. In our Age Wave/Harris survey, having a purpose matters more than having youthfulness among people 50 and older.
While all the talk veers toward Gen Z, businesses need to consider Boomers in the workplace and marketplace. Stagwell #aging #retirementplanning #boomers #seniorliving #futureofwork #marketingandadvertising
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1moAny medal for community service?