August 11, 2020
Same Arthritis. But Some Feel More Pain
The X-rays look very similar for two 60-year-old women with arthritic knees.
But the less-educated woman has more severe pain than the person who graduated college.
A new study of men and women finds that the degree of knee-joint deterioration visible in an X-ray isn’t the primary reason one person experiences more knee pain than someone else. Instead, the overwhelming reason is knee strain caused by obesity and the toll taken by physically demanding jobs – both of which are more common among less-educated workers.
The researchers focused on knee arthritis, because musculoskeletal pain is one of the leading causes of Social Security benefit payments to people who develop a disability and can no longer work.
Understanding what’s behind the pain differences is important, because the need for workers in certain jobs requiring physical strength – home health aides, janitors, and construction workers are examples – is expected to increase in the future.
Given this growing demand and predictions of a continued rise in obesity, the researchers conclude that “pain is expected to contribute to an increase” over time in the percentage of the population who will be impaired by their pain.
The people in the study fell into three educational groups: a high school degree or less; some college; or a four-year college degree. The researchers also had information about their occupations, as well as several data sources that gauge the severity of their knee pain, including the ability to do things like walking a quarter of a mile.
Knee arthritis worsens with age. However, a surge in reports of severe knee pain came about a decade earlier for people with no more than a high school degree than the surge for college graduates. …Learn More
June 23, 2020
Recessions Hit Depressed Workers Hard
Anyone who’s suffered through depression knows it can be difficult to get out of bed, much less find the energy to go to work. Mental illness has been on the rise, and depression and myriad other symptoms get in the way of being a productive employee.
So it’s not surprising that men and women with mental illness are much less likely to be employed than people who have no symptoms. But the problem gets worse in a recession.
In 2008, the first year of the Great Recession, the economy slowed sharply as 2.6 million workers lost their jobs. During that time, people who suffered from mental illness left the labor force at a much faster pace than everyone else, according to a new study from the Retirement and Disability Research Consortium.
The researchers compared average labor force participation, as reported in the National Health Interview Survey, for three periods. Two periods of consistent economic growth bracketed a period that included the onset of the Great Recession: 1997-1999, 2006-2008, and 2015-2017.
Labor force participation for people with no mental illness dipped less than 1 percent between the late 1990s and the period that included the recession. By 2015-2017, roughly three out of four of them were still in the labor force – only slightly below pre-recession levels.
Contrast this relative stability to large declines in activity for people with mental illness – the more severe the condition, the steeper the drop. Participation fell 17 percent among people with the most severe forms of mental illness between the late 1990s and the period that included the recession. By 2015-2017, only 38 percent of them remained in the labor force – well below pre-recession levels. …Learn More
March 26, 2020
Money Shame Surfaces in Tough Times
It’s easy to overlook the emotions that swirl around money. But they often come to the surface when our financial security is thrown into question.
The spread of the coronavirus has kicked Americans’ financial anxieties into high gear, a Kaiser Family Foundation poll found last week. More than half of the workers who were surveyed fear they will lose income when their workplace is closed or their hours are reduced.
Reduced income is hitting low-wage, part-time and hourly workers hardest and fastest. But even among people with more financial resources, more than half are concerned they’ll have to dip into retirement savings or college funds.
Even when financial problems stem from events that are outside of an individual’s control, a feeling of shame can take over. Shame is the thread running through three TED videos that explore the emotions around money.
With economists increasingly predicting a recession in the wake of the virus, it might be useful to keep in mind the insights and coping mechanisms discussed by the speakers in these videos.
Shame is that “intensely painful feeling or experience of believing that we are flawed … based on our bank account balances, our debts, our homes, or our job titles,” Tammy Lally explains in the first video.
Lally, a financial coach, believes her brother was driven to suicide by his shame about his bankruptcy filing earlier that same day. She said she was judgmental at first but, after encountering financial problems of her own, came to a better understanding of the intense pressures her brother was feeling.
Lally’s and her brother’s shame around money was rooted in their childhood, she said: the siblings learned from their parents that money would make them happy. “We internalized that into the money belief that our self-worth was equal to our net worth.”
As the coronavirus pummels the stock market and slows the economy, many workers are feeling under enormous financial pressures. But Thasunda Duckett, who runs the consumer division of a major bank, said in a second video that people only compound the pressures when they blame themselves.
“We have a fraught relationship with money, because it comes with judgment,” she said.
Duckett and Lally both recommend one thing people can do if they’re experiencing money issues. To overcome some of the shame and anxiety requires letting the burden go by talking openly with others about money – you will quickly learn that you are not alone.
“Money can no longer be a taboo topic,” Lally said.
In 2007, a year before the financial crisis hit, Elizabeth White, a Harvard Business School graduate and one-time international consultant, was tumbling into “economic freefall.” …Learn More
February 27, 2020
Retirement is Liberating – and Hard Work
Most baby boomers find the first weeks of retirement liberating. But it takes some work to ensure the feeling lasts.
“Almost everyone is just thrilled with the first days of retirement, and the big thing is: ‘I do not have to set my alarm,’ ” said Harvard Business School professor Teresa Amabile. Eventually, another thought dawns on a new retiree: “I don’t want to turn into one of those people who sits around in their jammies half the day. I need more of a routine.”
That’s when they start investigating what they’ll do with their time, said Amabile, who, with a team of researchers, interviewed 83 older professionals during their pre- or post-retirement years (or both) to understand the transformation from worker to retiree.
For a smooth transition, the planning should start well before leaving your job, as you process the question of how and when to retire. A critical part of the retirement decision is making sure you can afford it. But the psychological preparation is just as important.
This work, which boils down to four essential tasks, can take several years before and after the retirement date to complete. The first task – the decision to retire – was covered in last Thursday’s blog. Here are the remaining three:
Detach from work. Some people already have one foot in retirement while they’re still working. This can happen organically as an older worker starts to feel marginalized, or it can be a self-directed detachment as he or she becomes psychologically more distant in preparation for leaving. Amabile said completing the process of detaching from work can take weeks or years after retirement day. …Learn More
February 20, 2020
Mapping Out a Fulfilling Retirement
One might say that baby boomers on the cusp of retiring come in two varieties. Some cannot wait to retire and already have a plan. For others, the unknowns fill them with dread.
How will I occupy my days? Should I do something meaningful, or is the goal just to have fun? And how do I figure this out? At 62, this writer really has no idea.
For the other boomers who are feeling this way, take some comfort in knowing you are in good company.
“I can’t say this strongly enough. There are some people who seem to literally not think about what their retirement might look like before they retire,” says Harvard Business School professor Teresa Amabile, whose research team interviewed 83 professionals in their pre- or post-retirement years (or both) to study how they navigate the transition years.
A big part of retiring is letting go of what can be a strong identification with work, and people are reluctant to give that up, she said. This identity might be attached to one’s profession – doctor, professor, carpenter – or to an employer, a specific experiment, or the team on your current project. For others, identity is tied to being the family breadwinner. For many people entering retirement, the basis of that identity is “profoundly shaken,” Amabile said.
Of course, not everyone confronts an identity crisis. Older people who are eager to start a new chapter of their life or are simply burned out by work may find that it’s liberating to shed that old identity and move on.
But, according to Amabile, a more arduous process is common. Many older workers begin to realize, “My identity as a person and my work are really bound up together, so I need to work through that.” A crucial part of planning for retirement is determining “what life is going to be like without work, because work structures your life,” she said.
Amabile described the problems one couple in the study encountered because they didn’t have a solid plan. After retiring, they moved out of the community they’d lived in for 25 years and relocated near some family members. But two years later, they still hadn’t settled comfortably into their new life and “felt at loose ends all the time,” she said.
To prevent this from happening to you, consider that boomers typically must go through four tasks as they transition to a satisfying retirement; Amabile and her team members – Lotte Bailyn, Douglas Hall, Kathy Kram, Marcy Crary, and Jeff Steiner – saw these four tasks in many of their interviews with baby boomers.
The tasks – described below and in a follow-up blog – don’t have to happen in any particular order, though the most common sequence is: Decide to retire. Detach from work. Explore a new life structure. Consolidate a new life structure. …Learn More
December 31, 2019
Boomers Want to Make Retirement Work
The articles that our readers gravitated to over the course of this year provide a window into baby boomers’ biggest concerns about retirement.
Judging by the most popular blogs of 2019, they were very interested in the critical decision of when to claim Social Security and whether the money they have saved will be enough to last into old age.
Nearly half of U.S. workers in their 50s could potentially fall short of the income they’ll need to live comfortably in retirement. So people are also reading articles about whether to extend their careers and about other ways they might fill the financial gap.
Here is a list of 10 of our most popular blogs in 2019. Please take a look!
Half of Retirees Afraid to Use Savings
How Long Will Retirement Savings Last?
The Art of Persuasion and Social Security
Social Security: the ‘Break-even’ Debate
Books: Where the Elderly Find Happiness
Second Careers Late in Life Extend Work …Learn More
October 3, 2019
The Secret to Feeling Younger
You’re as young as you feel!
This cliché is meant to be uplifting to older people. But it really just begs the question: what, exactly, is it that makes a person feel young?
Having a sense of control over the events in one’s life is the answer that emerged from a 2019 study of 60- to 90-year-olds in the Journal of Gerontology. “[B]elieving that your daily efforts can result in desired outcomes” lines up nicely with what the researchers call “a younger subjective age.”
This makes a lot of sense. Feeling in control becomes important as we age, because it counteracts our growing vulnerabilities – we can’t move as fast, hear as well, or remember as much. Wresting back some control can rejuvenate older people, instill optimism, and improve memory and even longevity, various studies have found. …Learn More