Boomers Also Returning to the Classroom this Fall
BMO Podcast explores growing trend

– Media Alert –

As university students across the country settle into the new school year, there’s a good chance a 20-something might find themselves sitting next to a 50-something, as more and more boomers head back to the classroom. In BMO’s latest Retirement Your Way podcast, Diane Zorn, Course Instructor at York University for more than 10 years, says nearly 10 per cent of her Atkinson Faculty of Liberal and Professional Studies classes are made up of students over 30 years old.

According to Zorn, adjusting to the culture of higher education is the biggest challenge they face. Based on her research, Zorn theorizes that boomers going back to school are more at risk of falling prey to the “Imposter Phenomenon”: the constant fear of being exposed as an intellectual phony, despite a solid record of achievement.

However, Zorn’s theory is put to the test by Jim Lang, a boomer who after more than 30 years has recently returned to the classroom to continue his PhD. During the podcast, Jim discusses how his life path led him back to school and reviews some of the challenges and opportunities boomers can expect as they head back to school, both in the classroom and at home. They also discuss:

• Adjusting to student life and relating to younger students
• Things to consider before heading back to school
• Services that are available to baby boomer students
• Balancing life and education – how to have the best of both worlds

The podcast can be found at bmo.com/regeneration.

Kris Vikmanis, Head of Retirement Market, BMO Financial Group, is also available to discuss the podcast series and BMO’s research findings related to how retirement is being redefined by boomers. She can also offer her tips for boomers contemplating returning to the classroom, such as:

• Do your homework before you enrol - What is your goal when you go back to school? Investigate the full range of options. Distance learning or classroom? Evenings or daytime? Continuing education or degree programs?
• Build education into your financial plan (including costs and funding options) - Life transitions have financial and non-financial impacts. How will it impact how you spend your time? Implications for other obligations (care giving, work, charitable activities, sleep)? Is it part of your retirement transition?
• Find a mentor - Find someone who has gone back to school recently who can show you the ropes. School, students and teaching styles have changed a great deal over the years.

BMO Financial Group has created a series of podcasts about Canada's new retirement reality. Each episode examines an emerging issue facing Canadian boomers who are approaching retirement and offers practical advice on how they can manage these issues in the context of family, health, finances, work and play. Pamela Wallin, a seasoned journalist and member of BMO Financial Group's Advisory Council on Retirement, hosts the series.

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Contacts:

JoAnne Hayes, Toronto, joanne.hayes@bmo.com, (416) 867-3996
Lucie Gosselin, Montreal, lucie.gosselin@bmo.com, (514) 877-8224
Laurie Grant, Vancouver, laurie.grant@bmo.com, (604) 665-7596