When the "Baby Boomers" Retire?" Will this effect our society like health care. soc security?

Question

Will they make a difference how older people are treated?

Answer 1

Q: When the "Baby Boomers" Retire?" Will this effect our society like health care. soc security?

A: Probably. Some in the ways you've mentioned, but the impact on the workforce might be greater. When the people who went through the public schools at a time when reading, writing and math were required to graduate, retire, finding viable replacements to keep things running might be an unanticipated obstacle.

Q: Will they make a difference how older people are treated?

A: Probably not, though it could over the long haul. I suspect it will bankrupt a lot of services we take for granted. This might cause a general feeling of growing anger and resentment toward the people who grew old at an unfortuitous time.

Answer 2

The aging and retirement of the Baby Boomer population will have a tremendous impact on this nation -- and the world. In many developed countries, their populations are not only aging, but birth rates are dropping.

Job / employee shortages - much has been made of this. Personally, I think this problem has been overstated. MOST companies, if they find that they do not have the employees to fill their positions will look at consolidating or mechanizing. Some industries -- I can see the medical industry especially -- will be impacted greatly by the retirements of large portions of their workforce and the struggle to fill those now-empty slots. The work environment could change, as the 50-60 somethings are replaced with 20 and 30-somethings.

Schools -- public schooling is going to take a major, double-barrel hit. One, as I mentioned before, the population is dropping -- fewer children to go to these schools. The second is an older generation whose children are out of schools and are now on fixed incomes. I am NOT saying that seniors do not care about the schools -- but if a senior (or any fixed-income individual for that matter) is facing a choice between being taxed out of his or her home and approving a tax increase, it doesn't take a rocket scientist to figure out how seniors are going to vote (this is a HUGE problem where I am from). Personally, I think within the next decade, there is going to be a push to completely privatize the school system (it's already started), but I digress

Health care,retirement and social security -- frankly, these programs are in trouble. These only worked because you had younger generations, which outnumbered the older, paying into the funds for these. But now, not only do you have a smaller number of the younger generations, coupled with an aging population, but the older generation on average is living LONGER. Forty-50 years ago, someone MIGHT have lived five years after retirement. Now it is not uncommon for a retiree to live *20* years after retirement. The impact of this is already being felt. Companies are dumping their pension plans in favor of 401-ks and other retirement options, and I see the day coming fast where even the largest companies will cease to offer health care to its retirees. It's just too cost prohibitive. Look at the auto industry (Chrysler, Ford) for a case study. I don't know if this country will ever go to completly government-sponsored health care, but I wouldn't rule it out. But that is going to either mean an enormous tax burden -- or a rationing of care. I can easily see a day where people over a certain age will be denied care, excepting comfort care.

As I said earlier, this is not just a problem in the U.S. About every developed world is now facing this problem. What is the solution? I really don't know. Some days, I feel we are unwitting victims of our own successes. How things are done will have to be massively overhauled, that is the only thing I know for certain

Answer 3

When I read how much of the social security account has been tapped for other purposes, I find it frustrating. There is so much waste in goverment that has already affected social security and any plans for national health care, Baby Boomers won't get what they should have been able to anticipate long ago. I don't think the Baby Boomers retirement will affect things as much as a crooked government does.

Answer 4

I suspect that fewer boomers will retire than is anticipated. Too few of us can actually afford to retire. SS covers practically nothing. I keep hearing that the SS funds are in bad shape, yet we have a bigger work force than ever! IF politicos would keep their friggin hands off SS and stop using the funds to cover their pork, the funds would do just fine..but everytime there is a surplus, it is spent to cover the latest, greatest tax cut...cuts that have generated huge, unbelievable deficits...we are operating in an insane environment here! If a corporation were run as the Federal Government is run, it would be out of business within 6 months!
I have seen workers entire pension funds disappear in corporate take-overs. I have seen pension funds handled very poorly, trading in very risky stock deals, and go bust when the market dried up! The boomers are faced with the fact that they probably cannot afford to retire. And if they did, who is standing behind them to take their place? Today's HS grads can't read, write, or do math...ask your typical person on the street where China is...I am afraid you will be very surprised to find that relatively few even know that. When the main topic of a youngster's life is Paris Hilton, you know we have problems.

Answer 5

The entire Social Security system depends on workers' contribution, matched dolar for dollar by employers' contributions. Since the average worker retireing at age 65 uses up every dime in his account by age 67 years and 6 months, the rest of the checks issued to him for the remainder of his life come from the current contributions of the work force. The "boomers" were the largest generation every born in the U.S. They also had one of the lowest birth rates after reaching adulthood. That means the base of workers who can contribute into the system is much smaller than anticipated. Result? We need a massive increase in wage earners or the science fiction of "Logan's Run" may become reality.

Answer 6

Yes. People are living longer, therefore, long-term care will be a necessity. The cost of health care is constantly rising. If the Boomers are as feisty in old age as they were in their younger days, I'd say this will definitely make a difference as to how they will be treated. Not going to take anything lying down.

Answer 7

IT will effect not only health care, but pensions, how employees are treated, and how we take care of the earth. Baby boomers are the most selfish generation at this moment. They are the cause of bad paying jobs or decrease in pay, and they are also the CEO's freezing pensions. Once they have retired or at least died off, the world will be a better place. However, when it comes to social security, that would be the illegal immigrants who steal social security numbers and ruin people's credit, and without paying taxes, they receive social security benefits. SO that is a different topic. Bush for example, is a baby boomer. He is not only one of the dumbest presidents we have ever had, but he isn;t strategizing appropriately either. But of course we dont have to go over how lame he is.

Answer 8

to those who say boomers are selfish our generation has contributed the lions share of the monies to the system we are not selfish we supported the generations before us all we ask is our fare share but what do we get every time you turn around they extend the age that you can retire with full benifits the way they are going the people in 1st grade now will have to work til they are 100 in order to collect i wonder what they will have to say?

right on goldwing

Answer 9

Baby boomers may be a large enough group, that if they demand goods and services and force the government with their votes, they might very well get their ways.

Answer 10

the baby boomers have already started to retire