In the last decade or so, Merrill Lynch Wealth Management and Age Wave, a consulting firm specializing in issues related to aging, have co-launched a variety of studies to learn more about the goals, attitudes, and desires of today’s retirees. In a 2013 study, one of the most commonly expressed wishes among seniors was a yearning to leave a legacy—and not just of the real estate or monetary kind. 75% of respondents said that it was important for them to be able to pass along their values and life lessons.
The fact that seniors have a wealth of knowledge and experience to share has not been lost on academia and industry. The Kenan-Flagler Business School at the University of North Carolina has developed a program called “Pass the Torch” for companies to use in order to ensure that those approaching retirement are able to effectively transfer what they know.
Across the world, a variety of different organizations have established programs that allow seniors to pass along their skills and mentor students both young and old through talks, workshops and classes. One such enterprise, “The Amazings,” established in the U.K. in 2012, has been billed as “a marketplace for wisdom,” providing the opportunity to learn from seniors about a broad range of topics—everything from guitar playing to gardening, chess, and, yes, even nuclear physics.
At Trillium Woods, we too actively support our residents’ desire to experience the rewards of leaving a legacy by offering a variety of volunteer opportunities in the Plymouth and Minneapolis communities, as well as the chance to serve on a range of resident committees here on campus.
Leaving a legacy of accumulated life wisdom and vocational expertise has certainly been important to resident Gene Spichke. Prior to retirement, Gene worked the farm that had been in his family for three generations. Now, for over a decade, he’s contributed his time, talents and extensive knowledge of farming to the nonprofit organization Farm Rescue.
“The program was started in 2006, organized as a nonprofit to help farmers who had a serious illness, injury or natural disaster,” explains Gene. “Farm Rescue plants and harvests crops for them to take them through this hard time in their lives, just to keep the farm going and help the family out.”
The benefits for his fellow farmers are obvious—Farm Rescue has helped over 500 family farms to date—but Gene also recognizes the positive effects he’s experienced by being a volunteer for the organization.
“For me it’s just a wonderful transition from being retired from farming all my life. I can still operate farm equipment and help others and just enjoy it without the pressure of managing my own farm.”
Of course, many seniors also find leaving a financial legacy to benefit their family or charity of choice to be incredibly rewarding as well. At Trillium Woods, we can help facilitate that desire through our Return-of-Capital® Plan which refunds up to 80% of the original entrance payment to the resident–or to his or her estate–no matter how long the resident stays in our community.
If you would like to learn more about our how our Return of Capital Plan works, or other ways in which the activities, services and amenities of Trillium Woods support the lifestyles and desires of our residents, please contact us at 763-553-7600.Contact Us