Background

In the middle of the last century, planning for life after retirement was a luxury few people enjoyed.

In 1950, the average retirement age was about 68 years. Average life expectancy was also 68 years. Most people worked their whole lives—often in physically demanding, dangerous jobs—and died before their "golden years." Those who lived beyond age 65—8 percent of the population—often struggled with ill health or disability.

Today, the average retirement age is 62. Life expectancy is 78 and climbing. With the rise of the service economy, increased mechanization, and improved labor laws, most jobs are less strenuous and safer. Add to this a growing affluence and increased well-being for some—but, also continued financial insecurity or chronic health issues for others—and many 55- to 79-year-old adults are wondering what's next. 

Enter the third age

Older adults are entering the third age of life—a stage traditionally defined by retirement, as well as by learning solely for personal achievement or self-development. Now, increased longevity is leading many older adults to switch careers, enter college for the first (or fifth) time, start new businesses, or tackle community problems.

A changing landscape

Higher education has a 50-year history of providing lifelong learning opportunities for older adults. But the landscape has changed. This shift in educational needs has significant implications for both older adults and higher education. The expanding demands of older adults—who come from a wide scope of economic, cultural, and educational backgrounds—will test existing higher education programs.

We have much to learn about this growing population's needs, goals, and barriers—and even more to accomplish in the realm of policy and practice. Reinvesting in the Third Age will foster national discussions on promising practices and policies that reinvest in adults aged 55–79.

For more information, please contact:
E-mail: reinvestinginthethirdage@ace.nche.edu
This page last updated: 01/30/2009