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The best last place: Wyoming wants to capitalize on baby boomer potential
Forget Florida, baby boomers are pointing their pensions towards Wyoming.
By 2020, Wyoming will have the highest percentage of people over 65 in the entire country, turning the "Cowboy State" into one ripe for retirement, according to U.S. Census projections.
By ALLISON BATDORFF
Gazette Wyoming Bureau
"In eight years, half of Wyoming’s population will be over 50 years old – we’re going to knock Florida out of there," said Joanne Bowby, AARP Wyoming Associate Director of Communications.
Wyoming’s baby boomers, the loosely defined group born between 1946-1964, like the state’s recreation opportunities, positive tax system and small-town "Mom and Pop feel," Bowby said. Safety is a big factor, and crime outranks weather when making retirement decisions, she said. And this new breed of retirees isn’t frightened by Wyoming’s winters.
"The baby boomers don’t want to retire the way their parents did, and they are healthier, wealthier and more energetic than any generation before them," Bowby said.
This demographic shift will change the way Wyoming does business. In order to prepare for the changes in store, AARP, Gov. Dave Freudenthal and the City of Cody will host "Ahead of the Curve II: Economic Planning for Wyoming’s Retirement Boom."
The workshop is the second of its kind held in the last two years. This time around, 70 of Wyoming’s leaders will converge at Cody’s Quad Center Wednesday and Thursday to explore marketing and employing aspects of this population. On the first day, participants from Buffalo, Casper, Cheyenne, Cody, Cokeville, Dubois, Douglas, Glenrock, Jackson, Lander, Laramie, Powell, Rawlins, Rock Springs, Sheridan, Thermopolis, Torrington and Worland will focus on Cody’s strategies in attracting retirees and how the Buffalo Bill Historical Center targets boomers in their marketing plan. Gov. Dave Freudenthal opens day two which centers around employment and how to best incorporate an underutilized segment of the population.
"I’m not like the old horse on the farm. I’m not going out to pasture – I’m just quitting one job and looking to a different phase of my life," Freudenthal said. "When we think of the economy, we need to think about (boomers) as a resource."
Cody was a natural choice to host the conference, as the city is on the "front edge of this demographic bubble" alongside Buffalo, Sheridan and Jackson, Bowby said.
Within Cody’s city ranks, over 70 percent of the workforce is over 41 years old, according to Rob Schoeber, City Recreation Director and coordinator of the conference.
"This means that many of us will be approaching retirement around the same time. We have to plan so that we’re prepared for this," Schoeber said. "I think it would be helpful for any organization to take a good look at themselves and to prepare for the influx."
The City of Cody Recreation Center, where the workshop will be held, is a case in point.
"Sixty percent of our members are 50 and above," said Schoeber. "These people are not ready for a wheelchair. They want water sports and to climb mountains."
To register for the event, contact the City of Cody at 527-7511 or the AARP at (866) 663-3290.
Copyright © The Billings Gazette, a division of Lee Enterprises.
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Retirees ready, but are the jobs? Panel focuses on employment opportunity for those over 50
Associated Press
CODY – Laura Ridley knows she’s going to be asked two questions right off the bat this Thursday: "Where in the world are you from?" and "What are you doing in Cody, Wyoming?"
The city of Cody employee’s melodious Georgia accent inspires the first question, but the second requires explanation. Ridley, 56, is part of the westward movement of baby boomers drawn to the area to start a second career.
"There are so many attractions here-the phenomenal scenery, a small town atmosphere, a chance to see the tourist activity in the summer and get acquainted with each other in the winter," Ridley said.
But Cody is lacking in one important area – employment opportunities for those over 50 years old, she said.
Ridley will join a panel of older workers who will discuss what they want from a job at 10:30 a.m. Thursday in Cody s Quad Center as part of the "Ahead of the Curve II: Economic Planning for Wyoming’s Retirement Boom" state workshop. According to U.S. Bureau of Labor statistics, between 2000-2010, there will be a 33 percent increase in the number of people 65 years and older in the paid workforce.
Baby boomers are staying in the workforce longer than their parents for a few reasons, Ridley said. Finances top the list.
"Often boomers are supporting not only themselves, but their older parents, their children and sometimes their grandchildren," Ridley said. "Your finances are a bit like a pie-you have to have a piece for everybody."
Another, less-tangible explanation for their continued role in the workforce is the "enjoyment" factor, as concluded by a recent AARP study of people 50 and over.
"We can bring so much to the workforce, given the opportunity," Ridley said. "We bring skills, reliability, dependability and we don’t have young children that are going to be sick. We know the value of doing a good job and we like the work."
But if Wyoming’s workforce does not change with the times, the consequences can be severe, according to AARP economist Clare Hushbeck.
"If people don t have good paying jobs because they’re unemployed or losing pensions and health benefits, they can’t purchase. And that becomes a vicious cycle: consumers can’t purchase, producers and sellers don’t sell as much so they don’t produce as much, so they can’t hire and must even fire workers," Hushbeck said. "It all means fewer and less paying jobs and a weakened economy."
Copyright © 2004 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Copyright © The Billings Gazette, a division of Lee Enterprises.
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