Many older workers have reasons to work beyond the typical age of retirement. Here’s why you should retrain now to remain ‘irreplaceable’.
Baby Boomers, those between the ages of 52 and 70, account for the largest generation among us. Boomers possess a lot of knowledge and practical skills not often found among younger members of today’s workforce. According to a recent article in the Greater Baton Rouge Business Report, as Boomers retire, there will be a very real shortage of available talent and life experience in the workplace. But many older workers either don’t want to retire or need to keep working for financial reasons.
The Economic Policy Institute reports that retirement wealth has not grown fast enough to keep pace with an aging population and other changes. On average, Boomers nearing retirement have a nest egg of around $163, 577. But in reality, the median savings for this age group is only $17,000.
In his article, Why Baby Boomers Are Not Retiring, Robert McGarvey frankly offers this: “The single biggest reason cited by just about every study, mentioned by every expert, and shouted by most aging Boomers is this simple: lack of dough.”
Retrain or Retire?
While many Boomers face the age-old question of “Will my pension be enough, long enough?” The fact remains that others in this age bracket simply desire to stay busy and necessary as they continue to age. The age-old question for this group is: How do I make myself irreplaceable?
A recent National Skills Coalition publication states that Middle-Skill jobs, which require education beyond high school but not a four-year degree, make up the largest part of America’s labor market. This is good news for those with a need to ‘reinvent themselves’. Vocational training is in high demand, and in some areas, employers are out-bidding each other for workers.
But what about those who desire to remain necessary within the careers they’ve chosen; who have invested much over the years, and who still enjoy inspiring, influencing, and impacting those in their field?
3 Effective Ways to Keep Others from Noticing Your Age
- Remain necessary by remaining effective.
- Remain effective by investing in skill training that provides satisfying, measurable results.
- Remain open to learning new skills that also open your eyes and mind to new opportunities.
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