Anthony LoPinto

When baby boomers were in their peak earning years, most looked forward to “The Golden Years” a time when they were supposed to retire and enjoy the fruits of their labors.  Alas, Americans are approaching retirement age in worse financial shape than the prior generation.  Shockingly, more than 40% of US households aged 55 – 70 have insufficient resources to maintain their living standard, and that translates to 15 million households according to a Wall Street Journal Study.  To make matters worse, 70% of this group has debt, up from 50% twenty years ago.

One of the major effects of this situation will be that boomers will remain in the workforce longer, beyond 70, to attempt  to bridge the financial gap.  One ramification is that the advancement opportunities of the generations beneath them will be limited, as will the development of a more diverse workforce.  However you slice it, this is an emerging megatrend that will have a material impact on our economy and our society, aggravated of course by Washington’s failure to address Social Security, Medicare, and a host of other timebombs.

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Anthony J. LoPinto

Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago.

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