Local Legislators Attentive, but Not Presidential Hopefuls

Published in Woonsocket Call on January 1, 2017

As 2017 approaches, it is a time one naturally reflects on the year that has past, the people we have lost, and look towards what the incoming year will hold. Newspapers also look back of the interesting stories that shaped the news, too. This “aging beat” columnist reflected on his coverage of aging, health care and medical issues. During 2016, 47 weekly commentaries appeared in the Pawtucket Times and Woonsocket Call, some even were printed by Golocalprov.com, the Warwick Beacon and Cranston Herald. A myriad of issues were covered in this weekly commentary throughout the year.

During the very heated 2016 presidential I called on both Democratic and GOP candidates in the primary and election to give us the specifics about their policy positions on Social Security and Medicare. But, we saw aging issues mostly ignored in the more than two dozen debates that took place in this election cycle (21 primary debates and four general election debates). With Donald Trump taking the White House from the Democrats and his party controlling both chambers of Congress another commentary sounded the alarm about the GOP’s impending assault next session on Social Security and Medicare, America’s most popular domestic programs. Stay tuned.

Meanwhile, other commentaries covered legislative initiatives on Smith Hill. One looked at Sen. Louis P. DiPalma’s call for increased wages for the state’s direct care workers. These workers deserve this pay raise. Another covered Rep. Katherine S. Kazarian’s successful efforts to mandate holocaust and genocide studies in educational curriculum for all middle and high school studies. With anti-Semitic incidents increasing throughout the Ocean State we “must never forget.”

Of course, throughout last year my commentaries also addressed caregiving issues, making readers aware of scams and to educate them as to how they could protect themselves. One even shared my personal experience of putting down Abby, my 11-year-old chocolate Labrador, to end her suffering. Pet owners throughout the Ocean State have gone through this universal, painful experience and could identify with my painful decision.

Readers also learned about the very interesting details of a Near Death Experience of Tommy Rosa, a Bronx-born plumber, who came back to life with a spiritual knowledge of health and healing. Rosa’s chance meeting at a conference with Dr. Stephen Sinatra, an integrative cardiologist and psychotherapist, seen on “Dr. Oz” and “The Doctors,” would lead to the publishing of a 247-page book, “Health Revelations from Heaven and Earth.” This book is a great read for those seeking spiritual insight into maintaining good health.

Finally, in 2016 one item was scratched off my bucket list. Readers learned about my first book, “Taking Charge: Collected Stories on Aging Boldly,” being published in August. The 313-page book is a compilation of 79 of my weekly commentaries and is chocked full of researched stories and insightful stories with experts and everyday people who shared their personal observations about growing older and aging gracefully. Go to http://www.herbweiss.com for more details.

Below is a sampling of articles from 2016 that will allow you to see the breath and depth of my commentaries (over 200 of these previously published commentaries can be found on my blog, herbweiss.wordpress.com.) Enjoy.

“Older Americans Impacting the Economy,” published in the September 25, 2016 issue of the Woonsocket Call; in the September 26, 2016 issue of the Pawtucket Times

Everyone has heard this comment one time or another during their life — older people are a drain on the economy. But, in 2016 a newly released AARP report shatters this myth once and for all by detailing a rise in spending and workforce contributions of aging baby boomers.

AARP’s 28 page report, The Longevity Economy: How People Over 50 Are Driving Economic and Social Value in the US, takes a hard look at how our nation’s population of 111 million 50-plus consumers impacts the economy.

According to this report, released on September 20, the 50-plus age groups generates a whopping $7.6 trillion in economic activity (a $500 billion increase from 2013), including $5 trillion in consumer spending by people 50-plus. The researchers say the increases reflects the nation’s shifting demographic and spending patterns of this group due to longer life spans and prolonged employment.

“Does Exercised Aid Brain Heath: The Debate’s Yet to be Determined,” published in the August 31, 2016 issue of the Woonsocket Call; in the September 1, 2016 issue of the Pawtucket Times

According to AARP’s latest health aging survey findings released last year, age 40 and over respondents who regularly exercise rate their brain health significantly higher than non-exercisers. They also cite improvements in their memory, ability to: learn new things, managing stress, and even making decisions. On the other hand, the findings reveal an overwhelming majority of these respondents. see the benefits of exercise, but only 34 percent are meeting the Global Council on Brain Health’s (GCBH) recommended 150 minutes of moderate to vigorous exercise per week.

These findings in the 37-page Survey on Physical Activity report, note that having willpower, enjoying exercise, identification as an “exerciser,” lack of enjoyment and feeling like you have the energy to exercise or lack money to exercise are the key factors that differentiate exercisers from non-exercisers.
Although health care experts applaud the benefits of exercise and its positive impact on organs in your body, but the findings on improving brain heath are self-reported at best, not empirically derived.

“AARP Exec Seeks to Change America’s Perception of Growing Old,” published in the March 7, 2016 issue of the Woonsocket Call; in the March 8, 2016 issue of the Pawtucket Times

In 2016, AARP/CEO Jo Ann Jenkins released her new 272-page book, “Disrupt Aging: A Bold New Path to Living Your Best Life at Every Age.” AARP’s top official suggested it is time to redefine what it means to grow old in America. Throughout its pages the Northern Virginia resident encourages readers to re-think the negative stories they consistently tell themselves and others, urging them to come together to change both the conversation about aging and its reality. While sharing these ideas with others, and meeting fearless people working to change what it means to age in America, Jo Ann was inspired to write her book.
In Disrupt Aging, Jenkins focuses on three core areas—health, wealth, and self—to show people how to embrace opportunities and change the way society looks at getting older. Here, she chronicles her own journey and that of others who are making their mark as disruptors to show readers how we can be active, healthy, and happy as we get older. Through engaging narrative, she touches on all the important issues facing people over age 50 today, from caregiving and mindful living to building age-friendly communities and making our money last.

“Experienced Workers to Seek Greener Pastures in 2016,” published in the January 25, 2016 issue of the Woonsocket Call; in the January 26, 2016 issue of the Pawtucket Times

In 2016, an AARP survey found that with an improving economy older experienced workers were seeking new employment, making “more money” was the key motivator.
The “Experience in Work” survey (with its findings detailed in a 47-page report) reported that of the approximately 4 in ten inclined to seek new work this year, 23% are either extremely or very likely to try to find a new job this year, and another 16% say that they are somewhat likely to job-seek during that period.
Researchers say that respondents, ages 35 to 64, cite career growth potential (21%), better work flexibility (25%), more enjoyable work (30%), as well as better health benefits (28%) as reasons they plan to seek new employment this year.

Meanwhile, experienced workers are willing to take the leap outside of their job sector. A quarter (24%) of those likely to switch companies say that they do not expect to remain in the same industry. An even larger percentage (42%) do not even know what type of business they will end up in.
Responding to AARP’s survey findings Ed Mazze, a widely acclaimed Rhode Island economist says that retaining employees is quite simple. “To build a good workforce, the company must make work interesting, recognize the accomplishments of its employees, provide good working conditions, have a competitive compensation system and an opportunity for the employee to be promoted and continue to learn,” he says.
Throughout 2017 I look forward to penning weekly commentaries that will shed light on aging issues, most importantly providing you tips on how to age gracefully.

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Older Americans Impacting the Economy

Published in Woonsocket Call on September 25, 2016

Sometime in your life you might have heard this comment — older people are a drain on the economy. A newly released AARP report shatters this myth once and for all by detailing a rise in spending and workforce contributions of aging baby boomers.

AARP’s 28 page report, The Longevity Economy: How People Over 50 Are Driving Economic and Social Value in the US, takes a hard look at how our nation’s population of 111 million 50-plus consumers impacts the economy.

According to this report, released on September 20, the 50-plus age groups generates a whopping $7.6 trillion in economic activity (a $500 billion increase from 2013), including $5 trillion in consumer spending by people 50-plus. The researchers say the increases reflects the nation’s shifting demographic and spending patterns of this group due to longer life spans and prolonged employment.

Older Adults a Powerful Economic Force

The 50-plus cohort represents a powerful force that drives economic activity and the growth of this age group and has a transformative impact on the nation’s products and services.

According to the report, produced by Oxford Economics for AARP, members of the Longevity Economy are employed longer and making contributions within the workforce. In addition, the economic activity that comprises the Longevity Economy generates $1.8 trillion in federal, state and local taxes. As older people extend their work lives, they are fueling economic growth past the traditional retirement age of 65 as well as combating myths about how aging affects the economy.

“As the 50-plus demographic continues to grow, the market opportunities are too large to ignore,” said Jody Holtzman, senior vice president of market innovation, AARP. “With those in the ‘longevity economy’ wanting to maintain independence, employment and health for as long as possible, opportunities abound for companies to develop products and services to meet the demand. This report offers a strong roadmap for companies to address the needs of the 50-plus population.”

Look for the nation’s Longevity Economy to be more ethnically diverse. The report notes that by 2050, Black, Hispanic, Asian, and other non-white groups will make up 45 percent of the 50-plus population, compared with 26 percent in 2015. Demographic changes will influence the types of goods and services that the 50-plus population consumes and invests in, say the researchers.

Aging baby boomers and seniors will be a “contributing force” in the workplace and heavily into entrepreneurship. The report’s findings indicated that people age 50-plus are working longer, earning wages, spending more money, generating tax revenue, and producing economic value for an extended period of time. Those aged 55-64 have had the highest rate of entrepreneurial activity in the nation and over the last 10 years and one in three US businesses in that timeframe was started by an entrepreneur aged 50 or older.

The report’s findings pierces the long-held stereotypes that as one ages they become less productive, not as quick and agile when compared to younger employees. Researchers say while these observations may be true in some occupations, however, the report’s data suggests that in many instances productivity may increase in your later years. This may occur because older workers who are more highly educated are employed in more knowledge-based professions and less physically active ones.

Researchers observed that the Longevity Economy supported job sustainability. The AARP report found that in 2015 alone, nationwide spending by people aged 50 supported more than 89.4 million jobs and more than $4.7 trillion in the nation’s labor income — 61 percent of all U.S. jobs and 43 percent of labor income was related to this groups’ spending, impacting health services and education.

Meanwhile, the AARP report notes that The 50-plus population has a strong desire to stay independent and active while they age, resulting in businesses developing new technologies – such as remote monitoring, smartphone apps and ambient computing – that cater to them.

Finally, the AARP report found that baby boomers are not stingy. They donate at a larger rate than younger generations, with 80 percent of those 65-plus giving to charity in 2015. When not working boomers spend a lot of their time volunteering, too – individuals 55-64 spend 128 hours per year while those 65-plus spend 133 hours per year. In addition, 83 percent of the nation’s household wealth is held by those over 50 years old, say researchers.

In the Ocean State…

“In Rhode Island, we know that the 50+ population is an economic driver,” said AARP Rhode Island State Director Kathleen Connell. “On the younger end, the demographic represents key leaders in business, education and government. Sometimes it seems as if the ‘young innovators’ get all the press, but this core of established, successful and still quite energetic Rhode Islanders is undeniable. At the other end of the spectrum, $2.9 billion dollars in Social Security benefits are paid out to Rhode Islanders and a large portion of that spending is here in the state. Total economic output is estimated at $4.98 billion. People also would be surprised to know that Rhode Islanders 65 and older comprise 18 percent of the workforce.

“They are caregivers and philanthropists as well,” Connell added. “And their volunteer service is valued at $148 million a year. However, this is not to deny that many older people have real and pressing needs. That will grow as a percentage of the state’s population and we need to plan for those realities.

“Younger entrepreneurs are important to the state’s future,” Connell concluded. “But the brightest, in my opinion, recognize the 50+ population as both a market and a resource. Many are tapping the generation that came before them as an advantage as they grow their own successes. We want to see more of that. It’s a win-win we can’t pass up.”

It is no surprise to economist Ed Mazze that consumers age 50-plus are the most important demographic group for businesses to target. He says there are over 120 million people in this group (the baby boomers (born 1946 to 1964) and the Silent Generation (born from 1925 through 1945).

Mazze, Distinguished Professor of Business Administration at the University of Rhode Island, notes that boomers are willing to spend on technology, use social media, purchase online and represent a good market for many luxury products. “Many new products have been created for the Silent Generation in areas of food and pharmaceuticals and other products have been redesigned and reengineered such as appliances, automobiles and furniture for ease of operation,” he says.

“There are many in both markets still willing to pay full price for the products and services they buy if they feel they are getting full value for these purchases. These are two important consumer market segments that should not be neglected,” adds Mazze.