Hello fellow EncoreHustlers. Sorry for the delay in posting this week but Mr. EH was off on vacation last week in Los Angles. It was great to escape the cold and snow of the Pacific Northwest for at least a week.
1) Check out this New York Times story and academic paper about how an aging population affects economic productivity. There appears to be conflicting theories about how the aging workforce has resulted in a decrease in overall productivity. One theory has it that older workers refuse to adapt to new technology that could improve productivity. The other theory is that companies are reluctant to train older workers because it would be a poor investment on workers who may soon retire. Of course there are other factors to take into consideration. What about younger workers who receive training and then quit for better jobs. Also older workers can be more productive based on their experience and this advantage is lost when older workers are pushed out the door.
2) Anxiety about having enough money to retire on is a global phenomena. Read this story from Bloombergs that looks at this fear from a European perspective. It turns out that the Spanish have that greatest fear with 67 percent and the Dutch come out best with 40 percent. America has comes in with 62 percent.
3) Pursuing a new career later in life can be daunting. I found this story from NextAvenue about advice from a lawyer who became a career coach in her mid-50's very enlightening.
4) South Koreans are famous for their work ethic, often putting in an astounding hours. This has allowed them to achieve a world-class economy in only a couple of generations. However, due to low birthrates, the aging population is being encouraged to work into their 70's.
5) As an EncoreHustler you should have no problem passing the quiz in this article about Work and Retirement.
Have a great week and check in next week for another High Five.