When Baby Boomers Retire
What Will Happen?
As the baby boomers retire, there will be a shift focus to the next generation, who are the children OF the baby boomers (myself included). So far, we're becoming the next big demographic, stuck between starting out and competing with our elders. The number of jobs available these days are catered more towards the younger crowds, slowly pushing out those from the baby boomers out of work. Those who are able to still find jobs do so only because of their desire to keep up with today's technology.
Eventually, their entire generation will be living off of the social security I am paying into now, which will mean the less experienced, younger workers will fill the roles of the retirees. The standard of society will incorporate the majority rule of my generation, rather than the wisdom of the baby boomers. Some good will come of that, as technology continues to remain the hot trend. But in other ways, the economy might suffer all the more, as people from my generation have yet to really adjust and learn from economic pressures set before them and know how to cope. We have not experienced major wars (only intermittent conflicts, which pale in comparison to WW I and WW II). Granted, the tragedy of 911 exposed us all to a new dimension of terror and bloodloss, but still it is vastly different to the past horrors our forefathers have had to endure.
Those baby boomers who don't die of cancers will live longer, healthier lives into retirement, which might mean fewer needing nursing home care. Who knows what new industries might be created! That is good news for those of us worrying about whether or not we'll go into debt on behalf of our parents' care. Plus, the healthy baby boomers will be more readily available for their children and grandchildren, helping our generation to focus more on our busy careers.
As far as politics go, I think the mindset of the public will differ almost completely from what we've ever known the past 20 years alone. There might be more divisions between political parties, which might eventually lead to disasterous consequences within the U.S. itself. But, if the baby boomers have taught us anything thus far, it's that we have to roll with the punches and fight for what we believe in. And as long as we do that, we all just might make it.