Your Voice of Financial Reason

Encore Careers

Wednesday, January 13, 2010

Sponsors of the MetLife Foundation/Civic Ventures “Encore Career Survey” estimate that between 5.3 and 8.4 million Americans, between the ages of 44 and 70,  have already launched “encore careers”—positions that combine income and personal meaning with social impact. 

This study helps to answer an important question with major implications for the American economy: What will 78 million baby boomers do as they continue to work into traditional retirement age?   The final report indicates that a majority of Americans in this age bracket express a desire to use their skills and experience to help others. 

Of those currently in encore careers, 84 percent report a high level of satisfaction and 94 percent say they see the positive results of their work and know they are making a difference.

“The people who are pursuing encore careers are true pioneers,” said Sibyl Jacobson, president and CEO of MetLife Foundation. “They are blazing not only their own path but also one for those just behind them – workers who share their aspirations but have not yet taken the plunge. Their message is clear; social purpose careers are fulfilling and worthwhile.”

“Encore careers provide personal fulfillment, while also offering tremendous gains for society,” added Marc Freedman, founder and CEO of Civic Ventures, a think tank on boomers, work, and aging.  “But to truly capitalize on this tremendous opportunity, we must open minds – and doors – to what is possible and needed.”

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