by Lynda Smith
There are several macro trends that are currently impacting the way we work. Each generation is impacted differently. These trends are longevity and technology. These trends have positive and negative implications. Awareness and action are key drivers to understand how to navigate the future.
Longevity has this generation living on average 10 years longer than their parents and 20 years longer than their grandparents. A longer life calls for an extra season to be designed into your life. In most cases this plan will rest in your hands, not your employer.
Technology is driving change at an ever-increasing speed. Some of these changes have moved to fast-forward with COVID 19. It almost feels like 2030 arrived in 2020. The current over 50 generation did not grow up with computer technology.
In a perfect world, many save the most in the years 50-65 once bonds and education are paid off. These are the years where we should be earning the most and as a percentage, it adds great value to our final nest egg. Living longer, means we also need to save for a longer life.
We encourage the business world to be wise in the decisions they need to make. Take care of your employees. Much of the wisdom and skill are still embedded in this group who have years of experience and often can crystallize a solution due to this set of skills. Prepare them for their next season, which will need to include earning in some form. It is not about retirement, but rather re-firing and preparing them for the next season.
For the individual, you need to start planning for a new stage of life beyond the workplace. There may be several pathways and you will need to think through a few options. As you navigate these options, it is advisable to work with a coach, a community and people who can help you think through different scenarios. Our own narrow thought process may not serve us at this time. Create several future paths, build, and reimagine the possibilities for each and then be courageous enough to start the journey. We are all navigating a new world. Be a social pioneer and break old thinking that will no longer serve you.
Our business can help with solutions for both the individuals and big business. We have several solutions on our website. For individuals we encourage joining our membership economy where we are learning and navigating this new path together. It costs R500 to be a member for 12 months from date of sign up. You can read more about it here: https://www.50plus-skills.co.za/individuals/
Lynda Smith is a thought leader around the trends of longevity and technology and how this is impacting the over 50 generation. Lynda speaks, writes and engages in finding solutions as well as manages two companies called The Refirement Network and 50Plus-Skills. Lynda has enjoyed a 40 year career as an employee, executive and as an entrepreneur.
WEBSITE | FACEBOOK | LINKEDIN | EMAIL lynda@50plus-skills.co.za