Work, Forever: Why Interning at 60 Is the New Retirement Plan

A growing market for fellowships that targets older workers
connects private sector expertise with nonprofits in need of help. Nancy Diao
works part-time, for a small stipend, at a Bay Area education nonprofit. But at
60, Diao isn't your average intern. She's a former executive who will spend her
fellowship year at Breakthrough Collaborative serving as Acting Chief Operating
and Chief Financial Officer. Millions of baby boomers, like Diao, don't want or
can't afford to check out of the workforce at age 65. And many are seeking a
transition into work that has a social impact. The San Francisco-based
Encore.org helps older workers make that transition by pairing them with
nonprofits in need of their private sector expertise for a fellowship year.
It's an arrangement that fits the needs of all participants, and it has broader
ramifications: As the population ages, keeping older workers in the workforce
could boost the economy, alleviate retirement insecurity, and ease strain on
the social safety net. In 2009, President Obama signed a law that, inspired by
Encore.org's model, allowed for the creation of federal fellowships for those
55 or older in every state. Funding has yet to be appropriated for the program,
but that hasn't stopped Encore.org from creating a 20-city network that placed
200 fellows last year. The organization estimates that 31 million Americans
ages 44-70 want to find work with a bigger social impact.

Source/more: The Atlantic