Governments are in debt and raising the age in which citizens can receive retirement benefits. Boomers have for the most part failed to save enough to finance retirement. Those who have saved have seen little to no growth in their investments due to the collapse of financial markets since 2008. All this points to the fact the we will likely be working at the age of 70.
Michael Schrage writes about the “…end of retirement as we know it — an emerging unpleasant reality that will (re)shape the quality of life and standard of living for billions.” He asks that we take 15 minutes to consider what the five years after we reach the age of 65 will look like. Learning and development, for one, will be critical:
You will, of course, be taking web-enabled professional/technical development courses at 58 or 62 or you will be fired for cause.
You will also need to figure out how to provide value to the organization for which you work. You’ll likely be slower, frailer, and will be working with people young enough to be your grandchildren.
Clearly, all this will take more than 15 minutes of planning and will have a massive impact on the management and development of our workforce. (RN)
The 15 Minutes that Could Save Five Years | Harvard Business Review | Michael Schrage | 16 June 2010
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