The vast majority of the huge Baby Boomer generation are now in their 50's & 60's. In the next 20 yrs they will represent a huge Seniors population requiring vast amounts of Health Care and other economic support structures. Not to mention there is simply not a younger population group to balance off this buldge.
Will the US and Canada be able to shoulder this tremedous economic and social shift.
2007-04-29 08:45:34 · 9 answers · asked by Fluffy Wisdom 5 in Society & Culture ➔ Other - Society & Culture
I dont know - its going to be an interesting dynamic when they all leave the workforce. At the very least it will make the top jobs less competitive and easier to get into good employment because it will be the employers being desperate rather than the workers.
2007-04-29 08:49:02 · answer #1 · answered by radiancia 6 · 2⤊ 0⤋
That's a growing concern among the health care providers -- to say nothing of those of us who are from the baby boomer generation. The health care industry is looking at major shortages of nurses, aides, and support staff for hospitals and nursing home facilities.
In the meantime, those of us who are going to be the subject of those health services are nervously eyeing Social Security and our retirement funds, praying that we'll have enough to meet mounting medical expenses. In the last year alone, I've doubled the number of meds that I have to take, and if it wasn't for my husband's insurance, we'd be in a world of hurt.
I'm not sure what the answer to the problem is, but somebody'd better come up with something soon before it turns into a crisis.
2007-04-29 08:51:49 · answer #2 · answered by Wolfeblayde 7 · 0⤊ 0⤋
Great question! without the same amount of people paying into social security, this nation is headed for a huge depression, we're already seeing it, back in the eighties there was a fad called DINK--Dual Income No Kids that led to a bottleneck in the baby boom as people started getting married for financial reasons and choosing not to have children
2007-04-29 08:52:31 · answer #3 · answered by Matthew Star 3 · 0⤊ 0⤋
Without comprehensive tax reform (cuts) to boost the economy relative to the rest of the world and attract substantial foreing investment, yes.
In fact, pay attention to all the politicians (most of whom are baby-boomers) when they say SS will not run dry until 2040 or so.
The implication is "We baby boomers will have gotten our money and will be dead by then", just as the gen-xers retire, having to pay for their own retirement as well as the baby boomers'"
2007-04-29 08:53:20 · answer #4 · answered by ChrisDC 1 · 1⤊ 0⤋
The next generation of worker must learn how to save. Invest in their 401K plans or other plans and save, save and save for the future. Americans are the worst savers in the world, a fact that should be remedied. Those that do not save are asking for trouble in their later years. It is never to late to start and the lesson here is to pay yourself first into savings and leave it alone. Compounding is a great avenue to prosperity.
2007-04-29 09:03:36 · answer #5 · answered by Grizzley 2 · 1⤊ 0⤋
I think it will even out. Most of them are having health problems sooner than the generation before them as a result of their Free Love/Do It if It Feels good lifestyles.
2007-04-29 09:04:12 · answer #6 · answered by Anonymous · 0⤊ 1⤋
I don't think so. It's a cutting-edge generation. I think Babyboomers will find a way to contribute as a whole into their 70s. They will be an asset.
2007-04-29 08:50:46 · answer #7 · answered by Gerry S 4 · 0⤊ 1⤋
Actually, the trend for senior cruiase vacations is just the warm-up for phase 2:
Soylent Green.
2007-04-29 08:49:03 · answer #8 · answered by kent_shakespear 7 · 1⤊ 2⤋
of course they will...that's what immigration is all about for one thing.
2007-04-29 08:48:11 · answer #9 · answered by Anonymous · 1⤊ 2⤋