Financial Security
The Older Workforce Renaissance
Older adults who continue to seek income often also seek flexibility, which makes non-traditional and gig-based employment an attractive option to these workers. AARP MEGATRENDS – The conventional narrative that individuals will retire at 65 is becoming obsolete. Older adults are one of the fastest growing groups in the labor force, and employers who are poised to take advantage of this expanding and experienced workforce with smart, innovative approaches to workforce development/training, benefit packages, and technology that provides flexibility and accessibility can address their own staffing shortages while supporting a more financially stable aging workforce. READ FULL STORY
Early-Stage Workforce Venture Fund, JFFVentures Will Back Tech Startups Connecting Workers with Opportunities to Build a Stronger, More Inclusive Workforce
Early-Stage Workforce Venture Fund Announces $15M First Close – “The SCAN Foundation is proud to participate in the first close of the JFFVentures Fund II, reflecting our unwavering commitment to fostering a world where all older adults can age well with purpose,” said Dr. Sarita A. Mohanty, president and CEO of The SCAN Foundation. “Employment not only provides older adults with a sense of purpose and community, but also enhances their financial resilience. The establishment of this fund is pivotal in driving innovation aimed at creating a more diverse and inclusive workforce that will benefit older adults and enrich the labor market as a whole.” READ FULL ANNOUNCEMENT
Growing Number of Black and Hispanic Middle-Income Older Adults May Be Unable to Afford Housing and Health Care in the Next Decade
New analysis of middle-income older adults reveals financial disparities across racial and ethnic groups and geography. CHICAGO, February 15, 2024 — Millions of Black and Hispanic middle-income older adults will lack the financial resources to pay
Millennials Could Soon See Their Parents Become Their Biggest Expense
By Sarita A. Mohanty, President and CEO, The SCAN Foundation
FORTUNE Dec. 2023 – Most millennials and Gen Xers have little idea of what’s going to happen when their parents hit retirement age. That’s about to become an increasingly real problem, particularly for those with parents in the middle-income stratum. READ FULL STORY
Squeezed: Majority of Aging Adults are Facing a Crisis
The “forgotten middle” represents more than 11 million older adults who will need health care and housing in the next 10 years but won’t qualify for Medicaid to help alleviate increasing costs. We’re hosting a
‘Many older adults are spending three-quarters or more of their monthly, fixed income on rent…’
UC Berkeley’s Investigative Reporting Program shares the challenges experienced by older adults living in community and encourages dialogue around potential solutions. In a video published by The San Francisco Standard, the reporter examines the affordable