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This month's winning question is:
Oh, Wise One:
Q. You say that there is always opportunity for mature workers even during tough times. Where are the opportunities your crystal ball predicts?
S−AGE − What I always say is that there is opportunity for mature workers, in good times and bad, if they are prepared. For those that have prepared for the impact of globalization on regular, full−time jobs, for the advances in technology that affect existing careers and create new careers and, most of all, for the demographic change in an aging nation; they − and only they − will be ready to meet the future. The unprepared risk being reduced to "commodity" status − a sure fire way to remain un− or under−employed.
New opportunities for mature workers because of globalization
Outsourcing: Organizations are beginning to see that they should (can) outsource anything that can be done for less cost than they can do the work themselves. Qualified workers can provide work to organizations and offset the high costs of employing regular, full−time contributors. Some mature workers will become entrepreneurs and build small outsourcing businesses. Others, with established reputations for specializing in "hot" niche markets, will become outsourcing solutions of one.
Exporting: I realize that the dollar is weak and that our trade deficit is high. However, other countries, especially those with emerging middle−classes, will capitalize on lower costs of U.S. goods (lower costs because workers can work on demand and keep costs low).
Internet businesses: Everyone uses the Internet these days − well, at least 1.3 billion people do, according to InternetWorldState.com. Establishing an online business is a natural venue for mature workers to sell goods and/or team with others to provide services. What does it take to compete on the Internet? If you specialize, continue to innovate and support niche markets where high demand rules, you have a good chance of success.
New opportunities for mature workers because of technological advances
New breakthroughs are on the horizon that will open up possibilities for you in your traditional career path. When you can see better, hear better, walk better or, indeed do anything better, you can work better and later in life. It's up to you to study and learn how these advances in technology might help you to continue in your chosen career.
New opportunities for mature workers because of demographic change: The senior market is one obvious example of new opportunities that exist today. Figure it out. 78 million Boomers are aging (26% of our population) and want to look better, need to feel better and hope to live longer than longevity tables suggest. Anything that helps Boomers to do these things has a good chance for success. Move up one generation to the Traditionalists and think about products and services that will help them to reach their goal of remaining independent and living in their own homes for their longer lifetimes.
Q. Why, then are you so worried about our future?
S−AGE − Wizards don't worry….we imagine the worst and plan for the best. Here's the worst! 45% of American workers are now 45 or older. Let's break this down just a bit. Collectively Boomers are the wealthiest generation in history, but only 8% are affluent. Translation: One quarter of Boomers have no savings or investments at all. Up to 60% of current retirees have less than $25,000 in total savings and investments. And, nearly half of all current workers have less than $25,000 saved. Older women and women led families are in particular risk of sinking into screaming poverty. Women earn less money over their lifetimes and have more frequently interrupted careers than men. They also live longer which means that they need to finance longer lifetimes. Americans have $14 trillion in debt (much of it in mortgages) and $1 trillion in credit card debt. Even if the government can keep spending, you can't. And if you can't, eventually it can't. Whether or not you vote for more taxes, you may expect more taxes and less take home income. Then, there are the municipal bonds that used to be secure, student loans in default, many government pensions that are under−funded and every entitlement you can name is at risk. But, all of this needn't foretell a bad outcome for you if you learn the ways of Wizards.
Q. Are we in recession?
S−AGE − You know your own answer. It boils down to the re−telling of an old saying. Recession is when others are out of work….Depression is when you are. But, are we "officially" in a recession? As it turns out, it is not two declining quarters of GDP that determines whether the economy is in recession. Instead, a seven person panel of academics (fast−thinking but slow−moving Wizards themselves) determines when we go into and get out of recession. Bet you didn't know this. This fact points out that a lot of life is about finding out "later" that which you should have known "sooner." Check it out.
This brings us to
THE QUESTION OF THE MONTH!
Q. I am 58 and I have just been laid off. I am worried that I won't find a new opportunity because of my age. Any advice?
S−AGE − You're too old if you think you are! Life's journey is filled with people who see themselves in the light of believing that their fate rests in someone else's hands.
This is not the way of Wizards. We are committed to traveling the path of heroes. Joseph Campbell, George Lucas and others have described this path for you using mythological models that include accepting and overcoming disappointments along your life path. Wizards and heroes never − ever − never − ever give into the fear that someone else, or something else, determines their journey. Call the journey spiritual, call it a "mission from God"… call it what you will − But, consider that if you choose to follow the path of heroes, you will find your own life work and − when you align your path with marketplace need − you will never be fearful again.
You can live a life that matters by overcoming your sense of dependency on others. Getting on your path will fill your life with adventure, with heroic endeavor and with good, hard work. Need a blueprint? Read Joseph Campbell's The Hero's Journey, rent the Return of the Jedi, read our first book, Boom or Bust − or − wait a month or two and buy our new book the Return of the Boomers. Watch our website for the publication date.
Carleen MacKay & Brad Taft
info@AgelessInAmerica.com
In response to "popular demand" − The S−AGE SPEAKS, formerly HOT TOPICS, is now published on the 1st and 15th of each month.
© 2008 Cambridge Media, LLC All Rights Reserved
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