Spring 2012. Colleges and universities have sent out their acceptances and rejections. Anticipation (and anxiety) strike older Americans nationwide as they check their mailboxes or click on admissions websites. This year the excitement over college is not for their children or grandchildren but for themselves.
About to step down from their companies, law firms, hospitals, or government posts, these eager 50-plus leaders are planning to step up to their next productive years of significant service. They hope to enter the Advanced Leadership School at their favorite university. They can't wait to grab a book bag and head to campus.
Imagine that future: fifty- and sixtysomethings gathering on a college campus for a year or two of advanced study to prepare for the rest of their lives. They want to eradicate diseases, end poverty, reverse global warming, raise literacy rates, create ventures to produce peace in the Middle East—there's no cause too big. They have drive and energy; they have a treasure trove of wisdom, experience, and connections. Now, they want the knowledge and credentials to take their leadership to the next level.
Someday soon, going to a university at 50 or 60 could be the norm. Someday, every major university will have graduate schools designed specifically for accomplished professionals who want to make the transition from their primary income-earning careers to their years of flexible service. Someday, corporations will include tuition for these schools in retirement packages and will support scholarships through their foundations. Someday, the federal government will offer tuition grants and tax breaks for attending universities after 50, to support new forms of philanthropy and public service that truly solve problems.
That's the vision I'm developing with Rakesh Khurana, Nitin Nohria, David Gergen, and our colleagues from five professional schools at Harvard University. The idea is a new stage of higher education—call it "even higher" education—that turns experience into significance and produces a pool of much-needed leaders to improve communities, nations, and the planet. Higher education can redefine later life as a time for social entrepreneurship and public service.
This isn't going back to school. It's using school to move forward. Retirement options once ran the whole gamut from A to B. The two most common pictures were a life of aerobics and athletics (golf in particular), or running a bucolic bed-and-breakfast. Think of it as the Gerald Ford model. Now a more appropriate aspiration is to be a Bill—Clinton or Gates—and have the impact of a Jimmy Carter by starting a foundation and championing social causes. New models can include retired Chrysler CEO Lee Iacocca's campaign to find a cure for diabetes, or actor Paul Newman's business venture to raise money for charity.
More and more Americans are expressing an interest in performing community service, but those who came of age in the 1960s seem to lead the charge, according to a recent survey by the MetLife Foundation and Civic Ventures.
Baby boomers, now starting to turn 60, grew up under post-World War II child-centered philosophies, which gave them a clear sense of their own importance. The influence of Dr. Benjamin Spock was believed to be one reason the first wave of boomers so naturally felt like world changers back in the 1960s. Having been told from birth about their own significance, they aren't going to feel less significant simply because they've hit a career ceiling called retirement age.
The Civic Ventures survey shows that a majority of Americans between the ages of 50 and 70 want to benefit their communities by helping the poor, the elderly, and children, or by improving quality of life through the arts or the environment. Leading-edge boomers, ages 50 to 59, are the most emphatic about this. Many say they want to switch to a career in service now, not just in retirement. And nearly two thirds of those who never expect to retire say they're interested in a service career.
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