Recession Changing Attitudes on Retirement; Government Encouraging "Encore" Careers

Millions of Americans are rethinking their plans for retirement as a result of the worsening recession. According to an article in the Wall Street Journal, one possible side effect is an increase in national service on par with the early days of the Peace Corps.

...with older adults looking for work to help patch broken nest eggs, and nonprofits needing additional manpower, the two groups are finding common ground. The catalyst is the Edward M. Kennedy National Service Act, which Congress has passed and President Obama is expected to sign shortly. The bill is designed to encourage more Americans to commit to national service and expand opportunities for them to do so. For instance, the size of AmeriCorps -- which helps link volunteers nationwide with local needs in education, health care and housing, among other priorities -- will be tripled to 250,000 slots from 75,000.

The aim of the program is to encourage those in their 50s and 60s who are nearing the end o hteir primary careers to move into the nonprofit center. However as the WSJ story notes this won't be easy.

... getting people to volunteer their time when they're trying to find employment can be difficult. But the government efforts could provide the bridge from first careers to later-life careers that many people are seeking.

In addition to social good, volunteerism can provide a tremendous sense of personal meaning and self-worth. Even though the programs are small in comparison to need, they are a rare win-win in our world of trade-offs.

Source: Wall Street Journal