New Job, Older Worker | AGT The Safe Money People

Some married couples watch a newly divorced friend re-enter the dating pool and think, “Oh thank goodness we don’t have to do that.” Similarly, many older workers who are secure in their career or job thank their lucky stars when they learn that another mature worker has been laid off or, for one reason or another, is having to look for a new job. Let’s face it, some things are simply easier for young folks, and dating and job seeking are generally two of them. But the reality is, many mid-career workers have had to work hard to find a new job during this recent period of high unemployment. At the same time, more people are undergoing career changes midway through their career — and that in itself can cause stress. But here’s some good news: According to a 2014 survey by the American Institute for Economic Research (AIER), a large majority of mid-career workers who sought a career change (whether voluntary or forced) after age 45 found that their new positions led to less stress and felt their results were successful. In fact, 72 percent of respondents agreed with the statement, “I feel like a new person.” Sixty-five percent said their stress levels dropped. One explanation for the lower stress may be explained by another study that revealed older workers frequently move from a management position to a non-management position. And here’s some more good news: Half of the survey participants reported that although they may have initially taken a lower-paying position, eventually their pay increased. Other findings from the study reveal that people with some college education fare best when it comes to making a career change. First of all, workers with no more than a high school diploma are less likely to change careers. Second, professionals with graduate degrees are also less likely to change careers, presumably because they have spent so much time acquiring specialized skills and knowledge that it may be difficult to translate that experience into a new career. So it turns out that your basic college graduate with a general BS or BA degree is more likely to make a career change. Another interesting fact is that older men are slightly more likely to make a career change than older women. Income Differential If you are mid-career or later, you may have noticed that your salary bumps aren’t quite what they used to be. That’s because the greatest salary jumps come between the ages of 25 and 35, and then earnings begin to plateau. In fact, a recent study found that by age 45 to 55, earnings are considered to be shrinking because they no longer keep up with inflation. Here’s another interesting fact from the same study. Higher income earners who experience a salary disruption, such as being laid off, are less likely to recover their previous level of earnings than lower-income earners. At the lowest income levels, a negative shock is likely to return to a previous high level within 10 years, and subsequent increases generally continue. At higher income levels, an income decline may or may not return to a previous high level, and subsequent increases tend to be low. Age Discrimination Does age discrimination still exist in the job market? Most research concludes it does. In today’s job market, about half of all baby boomer job seekers say they felt they were discriminated against due to their age, at least in terms of working as much as they would have liked. One study — narrowly focused only on women seeking entry-level positions — nonetheless found that younger workers were 40 percent more likely to be called back for an interview than older workers. However, legal recourse for age discrimination is much harder to prove than it is for race or gender discrimination. For one thing, it’s difficult to tell if an employer rejects an older applicant due to age or because he or she is overqualified for the position and therefore seeking a higher salary than is necessary to pay for that particular role. It is also difficult to tell if an older worker is laid off due to his or her age or is one of many as part of a workforce reduction or reorganization. In order to win a lawsuit for age discrimination, there must be concrete evidence to that effect. For example, either written documentation (such as an email or memo) or witnesses to a verbal confrontation in which a supervisor referred to the worker as some type of derogatory term that indicates ageism discrimination. Late last year, another study found that it takes five months longer for an older worker to find a job than a younger person with similar qualifications. Unfortunately, the study could not determine if older people are less aggressive in their search because they have enough financial resources to be patient and discerning. Boston College Center for Retirement Research. April 23, 2015. “Late-Career Job Changes Reduce Stress.”http://squaredawayblog.bc.edu/squared-away/late-career-job-changes-reduce-stress. Accessed May 6, 2015. Boston College Center for Retirement Research. April 28, 2015. “Around 50, U.S. Workers’ Earnings Fall.”http://squaredawayblog.bc.edu/squared-away/around-50-u-s-workers%E2%80%99-earnings-fall/. Accessed May 6, 2015. Boston College Center for Retirement Research. April 21, 2015. “Employer Bias Against Aging Boomers?”http://squaredawayblog.bc.edu/squared-away/employers-bias-against-aging-boomers/. Accessed May 6, 2015.

Palliative Care: What It Is, What It Is Not

Palliative care emerged in the 1980s as a holistic, team approach to supporting patients suffering from serious medical conditions. It is not the same thing as hospice care. While both focus on making the patient more comfortable, the difference is that hospice is called for when the patient has a prognosis of impending death. Palliative care, quite on the other hand, focuses on life. The difference between the two is significant, but not widely known. In fact, more than 78 percent of adults in the United States are not exactly sure what palliative care is.

1 Even some members of the medical community believe that palliative care is just a synonym for hospice. Some doctors understand the difference but don’t recommend palliative care because they’re concerned the patient may interpret it to mean hospice and believe that they’re dying. Moreover, more than 50 percent of directors of nursing do not understand the basics of palliative care, according to new study. This research found that the more familiar the director of nursing was with palliative care, the greater the chances that their patient’s experienced end-of-life cares aligned with a higher quality of life focus. While hospice patients no longer receive curative treatment for their underlying disease, palliative care is available at any stage of illness and can be deployed in conjunction with curative treatment.

It is not associated with any particular age, illness or stage of illness, and is appropriate for anyone suffering from a serious illness, whether chronic or acute. Team Approach, Palliative care is provided by a team of professionals, usually in concert with the patient’s primary physician for a specific condition. This team is developed to meet the special needs of each patient and therefore can vary significantly. Examples of palliative care team specialists include trained palliative care doctors and nurses, social workers, psychologists, dietitians, nutritionists, massage therapists, pharmacists, chaplains and even art or music therapists — whatever is most appropriate for the patient.

Even if the primary physician is not technically a member of the palliative care team, he supervises the patient’s care and plays an active role in ongoing treatment. The healing scope of the palliative care team is broader than that of traditional doctors. Their focus is on preventing pain, alleviating suffering, improving quality of life and helping both the patient and his loved ones cope with the stress and burden of caregiving. The team works to make the patient become as independent as possible, emphasizing what the patient actually wants instead of what a traditional medical approach might dictate that he needs. This approach gives patients more control over their treatment plan. For example, an aging parent diagnosed with cancer may be worried about who will care for his mentally incapacitated adult son to the degree that he forgoes scheduled treatments to stay home with the dependent. This scenario may call for a social worker who is able to procure resources to help care for the son and provide transportation to and from chemotherapy sessions for the father.

 A palliative care team addresses physical, mental and social conditions, and studies have revealed that curative treatment can also be more effective when accompanied by palliative care. Access Because palliative care is not that well known, access is an issue. Most of the time it is recommended by the treating physician and frequently provided by on-site teams in a hospital setting. However, palliative care can be provided wherever the patient is located, including outpatient clinics, long-term-care facilities, hospices and even at home.

Palliative care also can be recommended via other sources, such as health and mental health agencies, day care and senior centers, schools, courts, child welfare and family service agencies, correctional systems, agencies serving immigrants and refugees, substance abuse programs and employee assistance programs. While the foundation of the program is to provide pain and symptom relief, these types of organizations may be engaged due to the patients’ lifestyle, socio-economic factors, immigration status and/or living environment. Social service agencies are frequently able to identify these factors and refer patients who would benefit from palliative care before their conditions are exacerbated and require more costly treatment.

Palliative care is generally covered all or in part by Medicare, Medicaid and most insurance plans. However, Medicaid coverage can vary depending on the state program.

1. Health Affairs Blog. March 10, 2015. “Effective Public Engagement To Improve Palliative Care For Serious Illness.”http://healthaffairs.org/blog/2015/03/10/effective-public-engagement-to-improve-palliative-care-for-serious-illness/. Accessed April 14, 2015.

 2. Journal of Hospice and Palliative Nursing. October 2012. “Opportunities and Challenges for Palliative Care Professionals in the Age of Health Reform.” http://www.nursingcenter.com/lnc/cearticle?tid=1429239. Accessed April 8, 2015.

 3. NYmag.com. “Many Nursing Homes Fall Short at Palliative Care.” March 24, 2015.http://nymag.com/scienceofus/2015/03/many-nursing-homes-fall-short-at-palliative-care.html. Accessed April 8, 2015.

 4. Pharmacy Practice News. March 2015. “Palliative Care a ‘Foreign’ But Vital Role for Pharmacists.”http://www.pharmacypracticenews.com/ViewArticle.aspx?d=Clinical&d_id=50&i=March+2015&i_id=1155&a_id=30832. Accessed April 8, 2015.

5. National Association of Social Workers. “NASW Standards for Palliative & End of Life Care.”https://www.socialworkers.org/practice/bereavement/standards/default.asp.” Accessed April 8, 2015. 6. GetPalliativeCare.org. “Frequently Asked Questions.”http://getpalliativecare.org/whatis/faq/#how-do-i-know-if-palliative-care-is-right-for-me. Accessed April 8, 2015.