With 65 % of the population being Baby-Boomers, what do you think will happen when they retire ?
It has been stated over and over that the population consists of 65 baby-boomers, with many of these people are retiring now. The medical, social security, retirement funds and increased costs, what do you think will happen to the economy, the banks, the hospitals, the job market, retail and taxes?
I believe this is another case of Y2K where everyone is exaggerating a pending "doomsday scenario" that will not occur as predicted.
Unlike previous generations of senior citizens the "baby boomers" for the most part have not been in a rush to embrace old age and retirement. In fact membership in AARP has dropped over the years.
The image of old men sitting on a porch in rocking chairs playing checkers and smoking cigars while old women dressed in aprons are pulling cookies out of the oven to feed grandchildren does not fit today's senior lifestyle.
We're going to the gym, having cosmetic surgeries, starting new businesses or second careers, and working beyond the age of 65. We're healthier, living longer, and leading (productive) lives. Tony Bennett is still recording and touring at age 87. Betty White is 92 and still acting. Mick Jagger is 71 and still touring with the Rolling Stones rock and roll band, Paul McCartney will be 72 next month and is also still recording and touring. With a lower population of younger people there will be less pressure to push the elderly citizens out to pasture.
Check out Raquel Welch at age 73. Not bad at all! :-)
The paradigm of old age as retirement, decline/decay,and retreating from society is dying fast.Old age is spicy & Baby Boomers are MAKING it MORE SPICY.Old people are HIP,dressing stylish & living a FULL life. Old is NOW ever evolving and gro
Some seniors are doing all of the things mentioned here, but most really are not. Those who are young retirees, yes...if their health is good, but many suffer debilitating health issues that do not allow them to be active, etc. Don't be fooled.
TIMETRAVELER2, I can only speak about where I live and the people who run in my circle. We're all going to the gym, jogging, pursuing dreams and living life to the fullest. The last thing on our mind is waiting for Social Security $$$
Age NEVER precludes one from pursuing dreams.Further one's education, get in shape,eat healthy,get some restorative alterations to one's looks,TRAVEL,pursue a NEW/UNUSUAL hobby.There's so much for 65+ ppl to DO besides waiting for SS!Old old is GONE!
Baby Boomers are one of the YOUNGEST older generations in history. While some Baby Boomers will permanently retire, there are others who will reinvent themselves by returning and/or furthering their education and having second, even third careers. We Baby Boomers AREN'T going into the sunset. While our parents, the GI generation of World War II, went into retirement communities however still remaining active, we Baby Boomers are going to the NEXT level. We will become MORE INVOLVED in our communities than our GI generation parents. We will reinvent the definition of old age as we have reinvented the previous stages of childhood, adolescence, young adulthood, and middle age.
Baby Boomers will continue to be involved in the world around them. We refuse to become......old. To us, 65 and beyond is yet a new and exciting stage of life. Baby Boomers are exploring new methods of being youthful through medical enhancements, medical care, healthful food, and exercise. Being actively engaged in life is one of the ways one does not become old in the more traditional sense physically, economically, and psychically. Besides, Baby Boomers are one of the most affluent and educated of all modern generations. This means that many Baby Boomers have retirement investments and savings beyond social security i.e. many do not have to depend solely upon social security to live.
Baby Boomers are also one of the healthiest generations alive and many practice preventive care. Being 65 and over does not necessarily mean declining health. As far as the economy goes, Baby Boomers are quite affluent and have much spending power thus being a boost to the economy. Baby Boomers AREN'T going anywhere, we will be still ACTIVE in our communities, contributing to the economy in one way or another, and perhaps working in one way or another. Life is exciting and becoming older in no way precludes living and participating fully in life. The old paradigm of being in eventual decline and decay once one hits 65 years of age and over is vanishing........and FAST. One can be 65 years of age and over and still be WITH THE PROGRAM and IN THE GAME.
I am near 60 and REFUSE to think of myself as old. Hell, I have plenty of things to still do. I will succumb to the old paradigm of being 60 years and over is the so-called beginning of decay, leading to death. I see this stage of life as GROWTH and RENEWAL. I intend to dress as sexy as possible, even buying a halter dress. As we speak, I am dancing to Kool and the Gang!
Considering the direction the country has been headed since the 1930, I no longer think there is a future of prosperity for Americans. There will be a necessary roll back of all the old people welfare that has been promised from the 30's to the present. I no longer believe retirement will be permitted for anyone but those who privately fund their own.
We have created and continued an unsustainable welfare state rooted in the most egregious scam in the history of America. If a private individual had created Social Security, he would have been locked up and the key thrown away.
There is certainly going to be a greater strain on entitlement programs from an aging population. There are both positives and negatives to this. As a large number of people leave the labor force, that could also create opportunity in the labor force for many that now have difficulty finding work. Ultimately, as Japan has taught us...and aging population comes with more negatives than positives economically speaking. One major difference between the US and Japan is they have a totally closed immigration policy. While ours is almost the complete opposite. If the US could get some sensible controls around immigration without shutting down the whole process...that could greatly improve the economic impact of an aging population. Unfortunately, that isn't likely going to happen soon.
by DS 6 years ago
Are baby boomers considered middle age or senior citizens?
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Do you have any views on what you feelings about the Baby Boomer Generation Dying Out Soon To Be Another Chapter In America's History?
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Do younger generations "get" the unique connections Baby Boomers share?
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