Tag Archives for AARP

Winning the Votes of Older Women

Published in Pawtucket Times on October 10, 2016

On Oct. 7, Washington Post reporter David Fahrenthol’s story broke detailing a three minute video of GOP Presidential candidate Donald Trump wearing a hot microphone during a 2005 bus ride with former-host Bill Bush, of “Access Hollywood” to the set of “Days of Our Lives” where the real estate mogul had a walk on cameo on the soap opera. The video captured Trump saying “And when you’re a star they let you do it. You can do anything …Grab them by the p—y. You can do anything” and crudely describing his failed attempts to seduce a woman while being recently married.

Reaction came swiftly to Trump’s locker room banter with Bush. “No woman should never be described in these terms or talked about in this manner. Ever,” said Reince Priebus, the chairman of the Republican National Committee, who was doing damage control to keep woman voters from voting Democrat. The leaked video has also resulted in a number of Republican Senate and House candidates running in November to withdrawal their endorsements of Trump.

This is horrific,” Democratic Presidential Candidate Hillary Clinton said on Twitter, noting a link to the Washington Post article. “We cannot allow this man to become president.”

The embattled Trump initially issued a statement and later a video to try to defuse the controversy and get his flailing campaign back on track 30 days before the November presidential election.

Many political pundits believe that Trump’s off-the-cuff comments that are derogatory to woman, a powerful voting block who decide elections, might just block his chances of becoming the next occupant of the White House.

Women’s Campaign Issues

One day before the politically damaging Washington Post article appeared detailing Trump’s lewd comments in a leaked video, AARP, the nation’s largest aging advocacy group, released survey findings highlighting issues of importance to women voters ages 50 to 69 in key battleground states.

“Older women voters – particularly women of the Boomer generation — could help decide the 2016 presidential election,” said AARP Executive Vice President Nancy LeaMond. “Yet many of their real concerns are being ignored and their questions overlooked in a largely issueless campaign. The candidates still have an opportunity to talk to these women about the issues that matter to them.”

The 27 page report, Women Voters Ages 50 +: Economic Anxieties, Social Security, and the 2016 Election, says that heading into this year’s presidential election, Democratic candidate Hillary Clinton has a whopping 15 point lead (48 percent) over the GOP’s standard bearer Donald Trump (33 percent) among woman over age 50. The findings also indicate that older woman favor Democrats running for Congress by a narrower margin (47 percent are inclined to vote for a Democrat while 36 percent inclined to vote for a Republican).

AARP’s survey results noted that majority of woman age 50 and over believe that Clinton will do a better job than Trump in addressing family caregiving (Clinton, 57 percent; Trump, 27 percent), education (56 percent; 31 percent), environment (55 percent; 29 percent) and health (53 percent; 35 percent). The Democratic presidential candidate is also perceived by older woman as having a slight advantage over Trump in controlling government spending and controlling the budget deficit (44 percent; 43 percent).

“It’s the Economy Stupid”
Plus Retirement Issues

As to the economy, the majority of the older woman respondents across these 15 battle ground states worry about pocketbook issues such as prices rising faster than their income (61 percent) and having to pay too much in taxes (54 percent. Four in ten (41%) worry about having prescription drug expenses they cannot afford. Women with lower household incomes are especially likely to worry about these pocketbook issues.

Also, the AARP survey found that many women also worry about retirement security, including their ability to care for themselves as they age (45 percent), not having financial security in retirement (41 percent), and whether Social Security will be there when they retire (38 percent). These retirement-related issues are of particular concern to women with lower household incomes.

Additionally, most women (53 percent) say that the nearly 25 percent cut in Social Security benefits that would result from not addressing the solvency of Social Security would impact them, including 32 percent who say it would impact them “a lot.”

Fixing Social Security is a key issue to older woman voters. The AARP survey noted that the vast majority of women voters ages 50+ (72 percent) say that the next president and Congress should address Social Security immediately.

Most women (67 percent) also favor giving a caregiver credit in calculating Social Security benefits to people who take time off from work to care for loved ones, says the report.

Social Security is flying under the radar screen of the voter. The survey findings noted that few women say that they have heard about the candidates’ plans for Social Security. About one in three (34 percent) say they have seen or heard anything from Clinton, and even fewer (20 percent) say that they have seen or heard anything from Trump.

The AARP survey found that over 54 percent of the respondents are currently, or have been, a family caregiver providing unpaid care to an adult loved one. More than eight in ten (85 percent) women voter’s ages 50+ think it is important for the presidential candidates to talk about how they would support family caregivers who provide unpaid care to aging parents or spouses or other adult family members.

Finally, four in ten (41 percent) women are not confident that they will be able to cover the cost of care for an aging or elderly parent, spouse, or other family member.

Women: A Powerful Voting Block

According to the Center for American Women in Politics, “In recent elections voter turnout rates for women have equaled or exceeded voter turnout rates for men. Women, who constitute more than half of the population, have cast between four to seven million more votes than men in recent elections.“

Only weeks will tell if embattled Trump can overcome the political backlash generated from his locker room banter degrading woman, political insiders predicting that the gender vote gap might just historically widen.

AARP’s survey findings provide sound advice to Clinton and Trump and congressional candidates who are scrambling for last minute votes, especially from married women, younger millennials and women living in the nation’s suburbs. The women’s voting block might just surely tilt the election to a candidate in many legislative districts.

Older Americans Impacting the Economy

Published in Woonsocket Call on September 25, 2016

Sometime in your life you might have heard this comment — older people are a drain on the economy. A newly released AARP report shatters this myth once and for all by detailing a rise in spending and workforce contributions of aging baby boomers.

AARP’s 28 page report, The Longevity Economy: How People Over 50 Are Driving Economic and Social Value in the US, takes a hard look at how our nation’s population of 111 million 50-plus consumers impacts the economy.

According to this report, released on September 20, the 50-plus age groups generates a whopping $7.6 trillion in economic activity (a $500 billion increase from 2013), including $5 trillion in consumer spending by people 50-plus. The researchers say the increases reflects the nation’s shifting demographic and spending patterns of this group due to longer life spans and prolonged employment.

Older Adults a Powerful Economic Force

The 50-plus cohort represents a powerful force that drives economic activity and the growth of this age group and has a transformative impact on the nation’s products and services.

According to the report, produced by Oxford Economics for AARP, members of the Longevity Economy are employed longer and making contributions within the workforce. In addition, the economic activity that comprises the Longevity Economy generates $1.8 trillion in federal, state and local taxes. As older people extend their work lives, they are fueling economic growth past the traditional retirement age of 65 as well as combating myths about how aging affects the economy.

“As the 50-plus demographic continues to grow, the market opportunities are too large to ignore,” said Jody Holtzman, senior vice president of market innovation, AARP. “With those in the ‘longevity economy’ wanting to maintain independence, employment and health for as long as possible, opportunities abound for companies to develop products and services to meet the demand. This report offers a strong roadmap for companies to address the needs of the 50-plus population.”

Look for the nation’s Longevity Economy to be more ethnically diverse. The report notes that by 2050, Black, Hispanic, Asian, and other non-white groups will make up 45 percent of the 50-plus population, compared with 26 percent in 2015. Demographic changes will influence the types of goods and services that the 50-plus population consumes and invests in, say the researchers.

Aging baby boomers and seniors will be a “contributing force” in the workplace and heavily into entrepreneurship. The report’s findings indicated that people age 50-plus are working longer, earning wages, spending more money, generating tax revenue, and producing economic value for an extended period of time. Those aged 55-64 have had the highest rate of entrepreneurial activity in the nation and over the last 10 years and one in three US businesses in that timeframe was started by an entrepreneur aged 50 or older.

The report’s findings pierces the long-held stereotypes that as one ages they become less productive, not as quick and agile when compared to younger employees. Researchers say while these observations may be true in some occupations, however, the report’s data suggests that in many instances productivity may increase in your later years. This may occur because older workers who are more highly educated are employed in more knowledge-based professions and less physically active ones.

Researchers observed that the Longevity Economy supported job sustainability. The AARP report found that in 2015 alone, nationwide spending by people aged 50 supported more than 89.4 million jobs and more than $4.7 trillion in the nation’s labor income — 61 percent of all U.S. jobs and 43 percent of labor income was related to this groups’ spending, impacting health services and education.

Meanwhile, the AARP report notes that The 50-plus population has a strong desire to stay independent and active while they age, resulting in businesses developing new technologies – such as remote monitoring, smartphone apps and ambient computing – that cater to them.

Finally, the AARP report found that baby boomers are not stingy. They donate at a larger rate than younger generations, with 80 percent of those 65-plus giving to charity in 2015. When not working boomers spend a lot of their time volunteering, too – individuals 55-64 spend 128 hours per year while those 65-plus spend 133 hours per year. In addition, 83 percent of the nation’s household wealth is held by those over 50 years old, say researchers.

In the Ocean State…

“In Rhode Island, we know that the 50+ population is an economic driver,” said AARP Rhode Island State Director Kathleen Connell. “On the younger end, the demographic represents key leaders in business, education and government. Sometimes it seems as if the ‘young innovators’ get all the press, but this core of established, successful and still quite energetic Rhode Islanders is undeniable. At the other end of the spectrum, $2.9 billion dollars in Social Security benefits are paid out to Rhode Islanders and a large portion of that spending is here in the state. Total economic output is estimated at $4.98 billion. People also would be surprised to know that Rhode Islanders 65 and older comprise 18 percent of the workforce.

“They are caregivers and philanthropists as well,” Connell added. “And their volunteer service is valued at $148 million a year. However, this is not to deny that many older people have real and pressing needs. That will grow as a percentage of the state’s population and we need to plan for those realities.

“Younger entrepreneurs are important to the state’s future,” Connell concluded. “But the brightest, in my opinion, recognize the 50+ population as both a market and a resource. Many are tapping the generation that came before them as an advantage as they grow their own successes. We want to see more of that. It’s a win-win we can’t pass up.”

It is no surprise to economist Ed Mazze that consumers age 50-plus are the most important demographic group for businesses to target. He says there are over 120 million people in this group (the baby boomers (born 1946 to 1964) and the Silent Generation (born from 1925 through 1945).

Mazze, Distinguished Professor of Business Administration at the University of Rhode Island, notes that boomers are willing to spend on technology, use social media, purchase online and represent a good market for many luxury products. “Many new products have been created for the Silent Generation in areas of food and pharmaceuticals and other products have been redesigned and reengineered such as appliances, automobiles and furniture for ease of operation,” he says.

“There are many in both markets still willing to pay full price for the products and services they buy if they feel they are getting full value for these purchases. These are two important consumer market segments that should not be neglected,” adds Mazze.

Still getting the job done

Published in the Pawtucket Times on August 15, 2016

In 2010, when Michael Cassidy retired as Pawtucket’s Director of Planning & Redevelopment after working for the municipality for 40 years, he had no intentions of easing himself into full-time employment. While he was retiring to “retirement” he had every intention to remain active for the rest of his life. Cassidy instinctively knew that retirees, who stay active by playing sports, traveling or even volunteering, always seemed to live longer. His father was a good example of this belief, living to the ripe old age of 92. Before the nagenarian died he had worked part-time as realtor, also playing in an Golden Oldies softball league and umpiring three times a week.

Part-Time Job Gives Many Bennies

With Cassidy planning to retire at age 62 from the City of Pawtucket, he went to see PawSox President, Mike Tamburro, asking him, “Do you have a job for an old retired guy.”

Ultimately, he took the position as usher at the Pawtucket-based McCoy Stadium. He says, “the job keeps me on my feet four to five hours.” Each game he puts around 15,000 steps on his pedometer. But the job also allows him to interact with old friends and even gives him an opportunity to make new ones, too.

There are additional benefits of having a part-time job, besides just getting physically active and having an opportunity to mingle with people, says Cassidy. He now has more time to spend with his six grandchildren, travel with Jane-Ellen, his wife of 45 years, and to just putter around his home. Now he even serves as Chair of the Blackstone Valley National Heritage Corridor Organization, he says.

Like Cassidy, according to a new AARP released last Tuesday, older Americans are not choosing to retire, many are now seeking part-time jobs in their post retirement years, not full-time ones.

Work the New Retirement Activity

According to the findings in the 26 page AARP report, “AARP Post-Retirement Career Study,” work seems to be the “new retirement activity.” While many Americans state that they plan to retire between ages 65 and 70 (45 percent), the data indicates that the typical retirement may have changed. Thirty seven percent say they plan to work for pay in post retirement. Of these respondents, 73 percent desire a part-time job and almost half are looking to work in a new field (44 percent). Twenty three percent will stay in the same field, and 33 percent are undecided.

The researchers say that connecting with co-workers, interesting and challenging work, and the desire for a work-life balance are all stated as top reasons why work is enjoyable. Some are seeking to pursue their dream job or dream field in this next stage of life. Sports, hospitality, and education fields are frequently cited. Most are hoping that their new dream jobs will be part-time, flexible with work from home options, and allow time for travel and fun.

The findings also indicate the importance of job training for those who plan to work during their retirement years. Among those who plan to enter a new field, training is seen as even more crucial to succeeding on the job (46 percent vs. 36 percent among those staying in the same field).

Meanwhile, when asked about what they enjoyed most about their current career, most mentioned income, benefits, and the schedule/work-life balance.

According to the AARP survey, regardless of the field, respondents are hoping to work part-time (73 percent), with over half expecting to work for someone else (57 percent) vs. being a contractor (21 percent) or starting their own business (19 percent). Personal contacts and job listings are the primary avenues respondents say they use to find post-retirement work (49 percent and 43 percent, respectively). Professional networking is also a popular way people plan to find work, note the researchers.

When questioned about their dream job, many respondents talk about a profession, for others it may be a particular type of working lifestyle. Jobs in the sports, creative, hospitality and education fields are mentioned frequently by the respondents while those looking for lifestyle benefits seek flexibility, lucrative, opportunities to travel, and employment with a charitable aspect to it.

AARP’s efforts to look into how people spend time in their retirement years is the first survey of this kind and there are no comparative stats from previous years, says Kim Adler, AARP’s Work and Jobs Lead.

The findings suggest that there are major implications for employers, adds Adler. “Americans are living longer, healthier lives and we will see a continuation of the long term trend of working into retirement years. Nearly 19 percent of 65 and older workers are in the workplace and the percentages – as well as the actual numbers – are likely to continue to rise. This will give employers the opportunity to hire and retain experienced workers who look forward to the opportunities and challenges in the workplace,” she says.

According to Adler, “there are shortages of skilled workers in certain industries and many employers report difficulty filling jobs. For these jobs – and all others – employers and employees benefit from an intergenerational workforce that encourages mentoring and knowledge sharing.”

Great Wealth of Experience

“The survey gives us a better picture of what retirement looks like today and, likely, well into the future,” said AARP Rhode Island State Director Kathleen Connell. “But it also is a conversation starter about the value of older workers. Older Rhode Island workers represent a great wealth of experience and accomplishment at every level of the workforce.

“Employers should embrace the willingness of people to work part-time after 65 or 70 as a “golden’ opportunity, if you will. And this is especially true of startups, where wisdom is a critical success factor. Growing the Rhode Island economy might depend on synergies of young innovators guided by experienced leaders and managers.

Adds Charlie Fogarty, Director of the Rhode Island Division of Elderly Affairs, “Many older adults look at retirement as a transition period, and not a defined point in time in their lives.” He notes, “this population has a wealth of experience and knowledge that can be shared while working part-time, making for a more productive and richer work experience for all employees.”

“Our new research shows a fluid workplace, with many experienced workers looking for flexible part-time work in interesting and challenging positions to continue their careers,” said Kim Adler, AARP’s Work and Jobs lead. “The new website [AARP.org/Work] will help experienced workers control their careers and stay connected, competitive and current in the workplace,” Adler added.

This AARP survey, overseen by Gretchen Anderson, AARP Research, was fielded online from July 27 to Aug. 3, 2015 and conducted among adults age 50-64 who are currently employed full time. A total of number of 4,975 surveys were completed. The final data has been weighted to U.S. Census for analysis.