What's Next For Richmond Encorepreneurs and Boomers

The 2nd Annual

What’s Next? SurveyJanuary 27, 2015

Today’s Host

Don’t Google “Boomers Outside the Box”

Today’s “Golden Nugget”

Think Outside The Box For Your Travel

Today’s Second “Golden Nugget”

Survey Overview• Objectives were to:

• Learn about the people who are currently active and interested

in encorepreneur!

• Find out if we really are thinking outside the box and expanding

our comfort zones.

• See if our breakfasts are on-track

• Get ideas for the future

Who are we and what are we like?

Encorepreneurs…..

Most of Us Are In Our 50’s and 60’s

-4%

-2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

43 46 49 52 55 58 61 64 67 70 73

2014 2015 Poly. (2014) Poly. (2015)

Average Age = 60

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2014 2015

Male Female

We Tend To Feel A Lot Younger Than We Are

35

40

45

50

55

60

65

2014 2015

Encorepreneurs Feel A Lot Younger Than They Are

How Old You Are How Old You Feel

0

2

4

6

8

10

12

14

Encoreprenerurs All Boomers

The Gap Between Reality and Perception Is Wider For

Encorepreneurs

Most of Us Work For For-Profit Businesses

For-profit business

86%

Non-profit organization

7%

Education7%

Most of Us Are In Management or Consultative Roles

0%

5%

10%

15%

20%

25%

30%

Management Professional Consulting Sales Finance Technical

Most Of Us Work For Ourselves

60%

29%

7%3% 1%

65%

18%

6%9%

2%

Own my ownbusiness or self-

employed

Working forsomeone else

Retired Other Unemployed,looking for work

2014

2015

We Are Better Prepared For Retirement Than Most

0%

10%

20%

30%

40%

50%

60%

70%

80%

PersonalInvestments

401K IndividualRetirement

Accounts

PersonalSavings

Sale orRefinancing of

Home

EmploymentDuring

Retirement

TraditionalEmployerProvidedPension

Inheritance Social Security

Major Sources of Retirement Income For Encorepreneurs vs Boomers

Encorepreneurs Boomers

We Plan To Retire Later Than Most

0%

5%

10%

15%

20%

25%

30%

<55 56-60 61-65 66 to 70 >70 Never

When Encorepreneurs Plan To Retire

2014 2015

Average = 68

And, You Are Not Stopping When You Retire

0%

10%

20%

30%

40%

50%

60%

Work part-timeindefinitely

Work part-time for afew years, then

retire fully

Work full-timeindefinitely

Work full-time for afew years and then

retire.

Don't plan to work atall

How Long Do You Plan To Work After Retiring

2014 2015

What Is Important In Planning What’s Next?

0%

20%

40%

60%

80%

100%

Stayingphysically

active.

StayingInvolved

Beingproductive.

Being aroundinteresting

people.

Learning newthings.

Helpingothers

Earningmoney.

Travel

How Are We Thinking “Outside The Box”

Encorepreneurs…..

Thinking Outside The Box?

Expanding Our Personal Lives - 40%• Travel

• To 5 of the 7 continents

• Two are on their way to Cuba as we speak

• Improving Our Health• Weight loss

• Exercise

• Better work/life balance

• Learning Something New• Writing books and poetry

• Drawing and photography

• A second language

Thinking Outside the Box

Expanding Our Business Life - 40%• Start A New Business• Enter new markets• Sell or transition your business• Hire new people

Expanding Our Service to Others - 20%• Management of non-profits• Spend more time as a volunteer• Mentoring• Serving people directly

Thinking Outside The Box?

•Some Specifics•Walk 3,650,000 steps in 2015

• Bake the perfect apple pie

• Learn to cook 10 great meals

•Write novels until I’m 94

• Soar in a glider

• Fly my drone above the fireworks

• See more sunsets

• Play with my grandchildren

Some Bad News and Some Good News…..

Encorepreneurs…..

Retirement “Budget vs Actual”

0

10

20

30

40

50

60

70

80

90What We Want To Do What Retirees Actually Do

Challenges of Aging

Are the breakfasts meeting our goals?

Encorepreneurs…..

Most Respondents Attended Multiple Meetings

0%

10%

20%

30%

40%

50%

60%

None 1 2-5 6-10 >10

Number of Breakfasts Attended

What You Are Looking For

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

Interesting Topics

Speakers

Networking

Are Breakfasts Providing What We Are Looking For?

• Networking

“You don’t see just the "usual" people"

"You can’t help meeting great people"

"The crowd is Intergenerational"

"People are engaged and energetic"

• Speakers and Programs

"Best speakers of any group I attend"

"Compelling"

"Relevant"

Have programs inspired us to make changes?

• We didn’t ask, but 9 of 12 speakers were mentioned

• Dr. Heilman mentioned by roughly 1 in 6 people that saw him

• Some specific inspirations were listed

• To take trips

• To accomplish personal goals

• To work for a named non-profit

• To mentor someone

• Some mentioned they have been inspired • To “do more”

• To stay involved more

• To stay involved longer

What Could Be Added or Changed

• Have meetings during other times of the day

•Ways to focus more on topics covered in breakfasts

•Workshops

• In-depth meetings

•More diversity in speakers

• An easy way to get others involved in encorepreneur

What’s Next?

Encorepreneurs…..

What’s Next for Encorepreneur?

Link

•Upcoming Locations• February Visual Arts Center

• March The Diamond

• April Poolside at the Edge Condos

• May Mobility Supercenter

What’s Next for Encorepreneur?

Link

•Upcoming Speakers• February Parney Parnell – COO of Richmond Braves

• March Cocktails and Baseball (VCU vs. VMI)

• May Jane Henderson – CEO of Va Community Capital

What’s Next for Encorepreneur?

Link

•Locations We Are Working On or Suggested

•Maggie Walker Governor’s School

•Calhoun Center in Gilpin Court

•Various religious venues

•Arts Venues

•Main Street Station

Thank You Again to……