News

Next Avenue: This massive untapped force for social good has the energy, skills and wisdom to make a $6.8 trillion contribution to society

0

This article is reprinted by permission from NextAvenue.org.

For millions of years, large tectonic plates slowly moved and ground against each other far below the sea that we now call the Pacific Ocean. As these forces converged, masses of land rose up and ultimately surfaced as beautiful Polynesia. So it is with longevity.

Throughout 99% of human history, the average life expectancy was under 18 years. Over the past few centuries, medical, economic, social and demographic forces have been shifting and grinding against each other. From this interplay, the average life expectancy has vaulted from 47 in 1900 to around 78 today (albeit with some temporary backsliding during COVID-19) and a new, uncharted stage of life has risen to the surface.

Globally, more than a billion people are now over 60 and, incredibly, that number will double by 2050. What should this new cohort of modern elders be doing with their third age? What roles might they play in their families, communities and society at large with their extra years?

What to do with our extra years

Should they seek to be youthful or useful—or maybe both? Most important, what could be the purpose for all the underutilized experience and talent of a billion elders? And might the timing be right for a whole new vision of both aging and elderhood?

Also read: How would winning $10 million change your life? And other insights into aging

In the 47 years I’ve been studying aging, older adults and retirement in the U.S. and abroad, I’ve noticed that there’s a lot of confusion among retirees regarding what they should be doing with their newfound decades of free time. Different than our grandparents who imagined they’d only have a couple of years post-work before their expiration date, it’s dawning on many of us that we now need to reimagine our lives, restructure our time and maybe even find a new purpose.

How have we been doing? Not so well. Over the past decade, the average American retiree watched 47+ hours of television a week, while less than a quarter volunteered at all.  

How have we gotten to where we are today with such an uninspired vision of the purpose of older men and women?

In the early decades of the 20th century, developed nations began introducing the new idea of retirement to give older adults a short, subsidized break after a life of hard work — and to make room for legions of unemployed young workers. On the day Social Security was introduced, the average life expectancy was 63 and the unemployment rate was an unnerving 25%. Social Security was an ingenious social, economic and labor intervention. Back then, not much was asked of older folks and Merriam-Webster’s dictionary defined retirement as a time “to disappear,” “to go away.”

See: Coming fixes to Social Security and Medicare are going to hurt

Then in the early 1970s, with the arrival of Sun City, Ariz. and other retirement conclaves, the idea was promoted that maturity was meant to be the “golden years” of life, a time for fun and play 24/7, like an extended vacation. Thanks to improvements in medicine and self-care, longevity was blooming and more people were aging more healthfully and youthfully.

Like a piece of taffy, retirement was being stretched longer and longer.

Maybe what’s needed now is another grand-scale social revolution to make better use of our multiplying legions of elders and give them greater purpose in their third age.

In a new study titled “The Four Pillars of the New Retirement: What a Difference a Year Makes,” conducted by my firm Age Wave, along with Edward Jones and Harris Interactive, we uncovered the awakening tremors of a massive untapped force for social good.

How retirees want to spend their time

Eighty-six percent of all adults and 89% of retirees now say, “There should be more ways for retirees to put their talents and knowledge to use for the benefit of their communities and society.” When probed about whether this volunteerism would require that they give up their freedom to relax and have fun, retirees indicated they would ideally like to volunteer or work pro bono a non-back-breaking 3.3 hours a week on average, which would be nearly four times the current retiree volunteer rate.

Read: How to find the best volunteer gig in your retirementHowever, they also said they need more direction, guidance, and user-friendly resources to help them connect with volunteer opportunities that leverage their experience, talents and interests.

Just as the Peace Corps was conceived and activated by JFK and Sargent Shriver 60 years ago, it appears that an army of new older helpers — a massive elder corps — is just waiting for the opportunities, infrastructure and social nudge to get them going.

Imagine all the potential good that could come from 70 million U.S. retirees each volunteering 3.3 hours a week. Over the next 20 years, that would be a total of 238 billion hours. With the value of volunteering usually set at just over $28 an hour, this would translate to an incredible $6.8 trillion contribution to society of energy, brains, experience, insights, skills and wisdom.

See: This worker found a new career that transforms the lives of seniors

Think about it. We could have thousands of thriving schools and nonprofits boosted by retirees’ savvy, life experience and connections; millions of disadvantaged students on the path to higher education thanks to the loving support of elder mentors and sponsors; fragile elders in nursing homes looked after by healthy elder advocates; countless young workers and parents benefiting from being coached and mentored by older adults; more widespread social justice thanks to legions of elder watchdogs and whistleblowers and thousands of communities blossoming from new intergenerational interdependencies.

Born in 1950, I’m now an elder myself and while I find full-time work less appetizing than I used to, I have no interest in being put out to pasture. With all of the experience and wisdom people around my age have accumulated, we have the ability to mindfully assess society, help heal what ails it and plan for a healthy, safe and equitable future.

The scope of this potential is enormous and unprecedented in human history.

Read: How to extend your life by as much as two years

From this perspective, modern elders could serve in a generous and generative role, and by so doing, we could avert the growing perception that older adults are financial drains, social outcasts or “OK Boomers.” Instead, we could serve as a living bridge between yesterday, today, and tomorrow — a critical evolutionary role that no other age group is as well-suited to perform.

Where to volunteer

In addition to reaching out to nonprofits, houses of worship, libraries and recreation centers in your community to see if they need assistance, here are some additional resources to join the social force for good:

Ken Dychtwald is a Next Avenue Influencer in Aging and a psychologist, gerontologist, CEO of Age Wave and author of 18 books, including his two new books “What Retirees Want: A Holistic View of Life’s Third Age” and his memoir, “Radical Curiosity: One Man’s Search for Cosmic Magic and a Purposeful Life.” 

This article is reprinted by permission from NextAvenue.org, © 2021 Twin Cities Public Television, Inc. All rights reserved.

More from Next Avenue:

London Markets: U.K. GDP expands a mere 0.1%, sparking worries about stagflation

Previous article

Market Snapshot: Dow, S&P 500 set to break string of losses with producer prices on deck

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News