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United States
Low paid, altruistic jobs on the rise for high-flying boomers

Mis en ligne le 20/06/2006

Close to 70% of baby boomers plan to work during their retirement. But why and what are their ambitions ? If lay-offs are a major reason for launching into a new career, many choose to leave highly paid jobs for more altruistic activities. Teaching, working for non-profit organisations, are especially popular among baby boomers. The trade-off is simple, boomers get lower pay and less financial security. But at last they may turn their passions into their job and contribute to improving society.

Later life is increasingly seen as a time for opportunity and reinvention rather than one of rest and relaxation. For baby-boomers, it's a time to launch into a new career. 70% of baby boomers say they will work during their retirement, but not all of them approach their post-retirement activities in the same way or for the same reasons. Some are leaving highly paid jobs to work for nonprofit or government organisations. Such career changes are motivated by altruism and by a wish to contribute to society. Some high earners are ready to put their skills to a good cause late in life, and take a pay cut. Other baby boomers are ready to leave less fulfilling jobs for public sector employment. Teaching is a favourite and boomers are ready to swap good pay for high social involvement. The post-war generation is ready to make many sacrifices for a job that is meaningful.
For others, career change is a necessity following a lay off. According to economist Louis Uchitelle, more then 30 million workers – a majority of them baby-boomers – have been laid off since the 1980's. Instead of seeking to conform to the requirements of the job market, boomers are using their expertise to create new businesses and be their own boss. Nevertheless the result is that many of them are increasingly suffering from high stress during the first few years. Nevertheless ultimately, they reach some sort of balance and welcome the change after years working at the same job. At last they are able to turn their passions into their careers.

(Newsweek, 19/06/06, "Second Time Around; After pink slips and midlife crises, a generation of seekers is beginning to create Career 2.0. In doing so, they may redefine the idea of retirement")

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