Monthly Archives for January 2016

The First of the Generation Xers Starting (Gulp) to hit the Big 50

Published in the Woonsocket Call on January 10, 2016

With the New Year’s celebration on January 1, the first of America’s 62 million Generation Xers are on AARP’s radar screen as potential members. These individuals have hit a demographic milestone, turning age 50 this year.  Now, it’s time for the generation that is following the Baby Boomers, to begin thinking about their later years and what resources they will need if they are thrust into the role of caregiver for their parents and grandparents.

Demographers says that Generation Xers (born between 1965 and 1979) is the middle generation, sandwiched between Baby Boomers and Millennials.  “As they grow older, it is important to acknowledge that they are having a different experience than their cohorts, and that they are more than just an unsung demographic who wore parachute pants and acid wash jeans,” says a recent AARP press statement, announcing the first arrival of this generation into their fifth decade.

The First Vanguard of Gen Xer’s Turn 50

AARP notes in 2015, 4.4 million Gen Xers hit the big-5-0.  This year another 4.1 million are expected to join the ranks of Americans over age 50, notes AARP, predicting that this generation will take on the role of challenging “outdated perceptions of aging and empower people to take control of their futures”

“AARP is excited to welcome Generation X to the 50-plus community and be a resource for them as they embrace their age and live the life that they want,” said Sami Hassanyeh, AARP Chief Digital Officer. “They face different challenges and have different goals than their predecessors, and deserve every opportunity to explore the possibilities that lie ahead.”

According to the Washington, D.C.-based AARP, the nation’s largest aging organization, Generation Xers carry far more fiscal responsibilities than previous generations have or even the next one, the Millennial Generation.  Now, in their 40s and 50s, this generation is financially supporting their children while being caregivers for their aging parents.  With life expectancy increasing Generation Xers must continue working to pay the bills, but like the aging baby boomers must rethink the concept of growing old and where they will put their time and energy in retirement.

“Though Generation Xers feel less financially secure than their parents in regards to retirement, they also plan to work longer and embrace new opportunities in this evolving life phase. Most people turning 50 today can expect to live another 30-plus years, and many are already taking steps towards increasing their longevity – 87% consider themselves in good health and 55% maintain a healthy diet. They are re-imagining this life transition and expect their future years to be more flexible and rewarding than ever before,” says the AARP statement.

Key Generation Xer’s Metrics

AARP Research provides a snap shoot the Generation Xers (www.aarp.org/research/topics/life/info-2015/generation-x-snapshots.html?cmp=RDRCT-GNXNST_DEC08_015).  As to diversity: sixty percent are white; 18 percent Hispanic/Latino; 12 percent are African and 7 percent Asian.  Most are married (64%) but one in five (19%) have never married.  Fifty percent of Generation Xers have children age 18 years or younger living at home while 67 percent of this generation have children of any age living at home.  This generation is well-educated with 35 percent receiving a Bachelor’s degree or higher (35%). Twenty seven percent have some college education.  The median income of this generation is $70,501.

Fifty six percent of this generation feels overwhelmed with financial burden (carrying an average debt of $111,000). Fifty five percent use the internet for on-line banking.

But, when thinking about retirement, 35 percent are confident they will have enough income to live the life they envision in retirement.  But, few Generation Xers are confident Medicare (34%) and Social Security (24%) will be available to them like it is for those currently receiving the retirement checks.

Looking at health, Generation Xers say that “the number one element for a good life is good health.”  They take responsibility for maintaining their health and well- being, too. Eighty six percent of this generation has health insurance.  Seventy two percent say that they trust their physicians the most for health information.

“From my perspective, this age group entering our membership demographic signals an opportunity for AARP to build our relevance in the lower end of the 50+ population,” said John Martin, Director of Communications at AARP Rhode Island. “When I meet these folks I get excited because more likely than not, they have been connected to the Internet for some time and are up to speed when it comes to technology and social media.

Time is on Their Side

“Generation X, the research shows, is quite forward-looking – as well as motivated — when it comes to working and living in one’s 50s with an eye toward health & fitness, retirement planning and having a say in making sure one’s community is heading in the right direction. The good news for Generation X, I would say, is that time is on their side. They can make changes during the final 15-20 years of their work life that will make everything after much better. So, when they embrace online resources and I can keep them current via email on issues relevant to the road ahead it is very exciting,” Martin added.

“I am pleasantly surprised when I meet people across Rhode Island who declare ‘now that I’m 50’ it’s time to join AARP. To me, what they are saying is that they get it,  that membership represents a transition that is all about fulfilling their aspirations and building confidence that they will live out their lives with independence and dignity.”

AARP is no longer the membership organization for just the Greatest Generation (1900 to 1924), the Silent Generation (1925 to 1944) and Baby Boomers (1946 to 1964). It is fr Gen Xers (1965 to 1984), too, especially if they want to take control of the quality of life they will experience in their retirement years and beyond.

For more information about AARP, go to AARP.org.

 

 

 

 

Rhode Islanders Share ’16 Resolutions

Published in Woonsocket Call on January 3, 2016

 

Each New Year, on January 1, we make promises to ourselves to start doing something good or stop doing something bad, either way on a personal and/or professionally level. Here’s a listing of Rhode Islanders, many who you may know, who reflect on their successes of keeping last year’s resolutions and they even share their 2016 New Year Resolutions, too.

Ernie Almonte, 60, Partner at RSM, LLP and former candidate for Rhode Island Treasurer.  The Scituate resident’s 2015 resolution was to find a firm with a “great work culture.”  Did he succeed? Yes, “wildly beyond his expectations,” he says. For his 2016 New Year’s Resolution, he plans to create a great future for his family.

Jonathan Bissonnette, 28, a reporter covering the Pawtucket Beat for the Pawtucket Times. In 2015, the journalist looked to cut back on junk food from fast food restaurants.  He did not succeed.  For this year, he repeats last year’s resolution and continues to look for ways to improve his nutrition.  He again looks to stay away from fast food restaurants.

Rep. David N. Cicilline, 54, representing Rhode Island’s First Congressional District.  Last year, the lawmaker backed legislation that helps create jobs and grow the economy and worked to ensure that government was “fair and more efficient” for his constituents  He was successful in enacted that strengthens America’s manufacturing sector, a bill that renamed a local post office for the late Sister Ann Keefe, provisions in the new education legislation that enhance after school partnerships across the nation, and ensuring Rhode Island receives funding for infrastructure as part of the new multi-year federal highway funding bill fund. This coming year Cicilline looks to curb the skyrocketing costs prescription and education.  He will also focus his attention on fixing the broken campaign finance system and making our communities safer from gun violence.

Scott Davis, 58, owner of Rhode Island Antiques Mall and an Entrepreneur.  The Providence resident worked last year to “eliminate stressors” in his life.  Did he succeed?  “Mostly,” he responded. For 2016, Davis says he will “figure out how to make a living once stressors are eliminated.”

Linda Dewing, ageless, is a broker associate at Places & and Spaces Realty and a seasoned artist.  The Pawtucket resident’s 2015 New Year’s Resolution was “to grow in business and wisdom.”  When asked if she succeeded, Dewing responded “somewhat.”  For next year, 2016 she plans to finish two pieces of art work and continue to contribute to Pawtucket’s growth by bringing more businesses into the City’s historic downtown.

Josh Fenton, 52, CEO and Co-Founder of GoLocal24.  Last year Fenton made a resolution to get up earlier in the morning to be more productive. The Providence resident believes he generally succeed by getting up by 4:45 a.m. “I saw a lot of good sunrises,” he says.  For 2016, his New Year Resolution is to spend more time with close family and friends.

Charlie Fogarty, 60, is the Director of the Rhode Island Division of Elderly Affairs.  Last year the Glocester resident resolved to be mindful of his health and wellness. .He made small lifestyle changes, such as adding a 30-minute walk to each day, resulting in improved health. In the New Year he resolves to promote physical, social, and mental well-being. He says healthy lifestyles for seniors, supported by family, friends, caregivers and the community enables these individuals to remain at home.

Attorney General Peter Kilmartin, 53, Office of the Attorney General.  When asked about his 2015 resolutions he responds “I typically don’t make New Year’s resolutions, as I try to work on improving myself throughout the year.”  For 2016, he says, “I will try to work on improving myself and the Office of Attorney General each and every day.  Every morning I read a spiritual piece which is aimed at recognizing not only what is good in our lives, but also how to keep a positive attitude and improve our lives.  It is my goal to continue this practice each day for 2016.”

Nicholas A. Mattiello, 52, is a self-employed Cranston attorney who serves as Speaker of the House in the Rhode Island General Assembly.  Last year the lawmaker resolved to pass a State budget that would include an exemption from the State income tax for many Social Security recipients.  “Retirees have worked their whole lives and do not deserve to be taxed on Social Security,” he said.  He was pleased to see his chamber pass the budget unanimously, and the Governor sign into law.  For the upcoming year, his resolution is to continue to work hard in improving the State’s economy and job climate.  “I want to see the economic momentum we have built-in the last few years continue to grow and to make Rhode Island once again competitive with other states in the region,” he says.

Edward M. Mazze, 74, Distinguished University Professor of Business Administration, at University of Rhode Island.  In 2015, the Narragansett resident’s New Year’s resolution was to lose weight (become more healthy) and be more optimistic about Rhode Island’s Economic Growth.  He believes that he succeeded.  In 2016, he is looking to continue losing weight and hopes to be more patient with Rhode Island’s Economic Growth.

Lt. Governor Daniel J. McKee, 64, a former Mayor of Cumberland who served 6 terms.  Last year he resolved “to be champion of the family’s annual holiday ping-pong tournament.  “Let’s just say there’s a next year,” he says.  As to 2016 resolutions, McKee says, “While many people are resolving to hit the gym and lose weight, I want to build on my “39 Cups of Coffee” tour (one in every city and town) and support our economy by dining at as many local restaurants as I can.“

John J. Partridge, 75, is Senior Counsel at Partridge Snow & Hahn, LLP.  In 2015, the Providence resident worked “on patience.”  When asked if he succeed, Partridge responded “impatiently yes.”  For 2016, the lawyer who has published three murder mystery thrillers plans on publishing his fourth Algy Temple mystery, “Hanger.”

Governor Gina Raimondo, 44, is the highest elected state official in Rhode Island.  Last year the governor’s resolution was to “bring Rhode Islanders together to grow our economy.”  It’s too early to make judgements if she has succeed, says Raimondo, but the signs of improvement are there.  She resolves to come back in January, “re-energized to keep fighting for Rhode Islanders.

“There are crucial challenges ahead, including our under-performing schools, and our crumbling roads and bridges. We’ve just got to keep the momentum going with more work, more action, and more results,” she says.

Scott Rotondo, 42, is the Accounting Manager at Tivoli Audio in Boston, Massachusetts and a radio talk show host.  The Pawtucket resident’s 2015 resolution was to challenge his own assumptions and opinions.  He believes he “mostly succeeded.”  For the upcoming year his New Year’s Resolution is “to be more patient with others and with myself.”

Ron St. Pierre, over 21, is the Morning Drive host for News radio 920/I Heart Media.

The East Greenwich resident’s 2015 resolution was “to make it to 2016.  Was he successful?  He responds, “to be determined by making it to January 1, 2016.   This year’s New Year Eve’s resolution is “to make it to 2017.”

Charles Steinberg, 57, President of PawSox, at McCoy Stadium.  The baseball executive’s 2015 resolution was to help the Boston Red Sox “enhance bonds with fans through experiences and events at the ballpark and outreach to the community.  Did he feel he succeed?  “I hope so, but the fans are the best judge of that.”  As to this year’s New Year resolution, he hopes to help the PawSox, Pawtucket’s AAA Team bond with its fans by giving them great, memorable experiences and events at the ball park and to reach out to the community.

To all my loyal readers, may you have a Happy New Year and a great 2016.