Archive for the 'retirement' Category



New Report Includes “Call to Action” on Libraries and Active Older Adults

FOR IMMEDIATE RELEASE, April 12, 2006
http://www.imls.gov/news/2006/041206.shtm

As the first of the baby boomers turn 60, public libraries are preparing to offer creative alternatives to retirement…. A new report from Americans for Libraries Council (ALC) and the Institute of Museum and Library Services (IMLS) describes this demographic revolution and offers guidance and examples of model programs to public libraries interested in connecting these active older adults to new opportunities for learning, work, and community service.

Designs for Change: Libraries and Productive Aging gathers insights from a day-and-a-half-long Library Leaders Forum, held September 26- 27, 2005, in Washington, DC. …Forum participants concluded that traditional adult services for “seniors” fall short in appealing to the interests of these older adults, and don’t take full advantage of their willingness to work, volunteer, and impart expert knowledge within the community.

“Libraries have the potential to make the process of re-imagining and revision possible,” said Mary Catherine Bateson, anthropologist, author, and one of the forum’s featured speakers…. A theme throughout the forum was the need to rethink stereotypes of aging and to find new ways in which libraries can connect older adults to opportunities that benefit both individuals and their communities….

Download
Designs for Change: Libraries and Productive Aging

(PDF format; 1.7 MB). Hard copies may be obtained directly
from ALC at 646.336.6236.

Working women over 70 caught in the retirement trap

http://seattlepi.nwsource.com/local/253544_grayingpoverty27.html

At 74, Marie Maes is scrambling to find work.

Even though she spent four decades working in Colorado hospitals and Seattle nursing homes, the veteran licensed practical nurse lives just above the poverty line on little more than $12 a day after she pays her rent.

She is among a near-record and growing number of women working well into their 70s, thanks to smaller Social Security checks, shorter careers, smaller pensions, longer life spans than men and bad financial planning….


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Senior softball champion is an enigma even to his teammates

from Boing Boing

Friday, November 18, 2005
Senior softball champion is an enigma even to his teammates
Sixty-four-year-old John Meeden is regarded as the best player out of the two million aging baby boomers who belong to "senior softball" leagues, but nobody knows much about him, even his teammates. J.R. Moehringer of the LA Times traveled to St. Louis to see if he could find out more about the mysterious Meeden. It’s a wonderfully-written piece.

How much money does a centenarian need for retirement?

October 31, 2005 edition, By Steve Dinnen
http://www.csmonitor.com/2005/1031/p15s01-wmgn.html?s=hns

Q: How much should one have saved when it becomes mandatory to start taking money out of an IRA? What would be a reasonable amount for a comfortable retirement which would include a cruise once a year and account for taxes, home insurance, a car, gasoline, food, and inflation? Would $1 million cover all that? All my relatives are over 100 years old and I need to think in the long term. And staying independent is important.
V.C., Missouri

A: A million dollars might sound like a nice, round – and precise – figure. But before determining how much you need to have saved, Tony Proctor, a certified financial planner from Wellesley, Mass., says that you must calculate how much you plan to spend each year. And you must calculate all of your sources of retirement income, such as Social Security and pensions.

Someone who plans to spend $150,000 per year in retirement, and who only has Social Security to offset their spending, will need much more than $1 million in the bank, Mr. Proctor says. But that amount would be a fortune to someone who only spends $40,000 per year and has Social Security income of $20,000 per year.

The key to determining a reasonable amount to have saved is knowing your "annual cash flow need," he says. Proctor defines that as the difference between your spending and your sources of income.

Age at retirement and long term survival of an industrial population BMJ

http://bmj.bmjjournals.com/cgi/content/abstract/bmj.38586.448704.E0v1?ecoll
BMJ, doi:10.1136/bmj.38586.448704.E0 (published 21 October 3005)

[But, why did early retirees retire early? feeling unwell?]

Age at retirement and long term survival of an industrial population: prospective cohort study
Shan P Tsai 1*, Judy K Wendt 1, Robin P Donnelly 1, Geert de Jong 2, Farah S Ahmed 1

1 Shell Health Services, Shell Oil Company, 910 Louisiana, Houston, TX 77002, USA
2 Shell International, Hague, Netherlands
* Correspondence to: shan.tsaiAT shell DOT com

Objective To assess whether early retirement is associated with better survival.
Design Long term prospective cohort study.
Setting Petroleum and petrochemical industry, United States.
Subjects Past employees of Shell Oil who retired at ages 55, 60, and 65 between 1 January 1973 and 31 December 2003.
Main outcome measure Hazard ratio of death adjusted for sex, year of entry to study, and socioeconomic status.

Results Subjects who retired early at 55 and who were still alive at 65 had a significantly higher mortality than those who retired at 65 (hazard ratio 1.37, 95% confidence interval 1.09 to 1.73). Mortality was also significantly higher for subjects in the first 10 years after retirement at 55 compared with those who continued working (1.89, 1.58 to 2.27). After adjustment, mortality was similar between those who retired at 60 and those who retired at 65 (1.06, 0.92 to 1.22). Mortality did not differ for the first five years after retirement at 60 compared with continuing work at 60 (1.04, 0.82 to 1.31).

Conclusions Retiring early at 55 or 60 was not associated with better survival than retiring at 65 in a cohort of past employees of the petrochemical industry. Mortality was higher in employees who retired at 55 than in those who continued working.

(Accepted 16 August 2005)


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