Generaciones: Baby boomers, X, Y, Z.
Profesor: Paul Valdés
Janeth Gutiérrez Camacho
José Alfredo Garduño Villegas
An assisted living residence is also sometimes known as an assisted living facility. This kind of care for elderly residents falls somewhere in between the 24 hour a day care that is provided in a skilled nursing facility and a senior retirement community.
In general, the folks who live in assisted living facilities need some help during the day and at night but they do not need or want the kind of personal attentions that comes with being a resident in a nursing home.
In the past couple of decades, the amount of people who are living to retirement age and better has increased tremendously. Not only are there more and more baby boomers as a group, but because of increases in the quality of medical care and increases in the general standard of living, more people are living longer.
In some cases people are living a lot longer. The median life expectancy for people who are retired has increased nearly 5 years across the board just in the last few years. This means a big increase in the number of people who are in need of a place to live when they retire.
Its not that folks can not simply stay in their homes they have lived in for the other parts of their lives, it's that sometimes they need some extra help and care in dealing with the activities of daily living. In some cases, this means they might need help with getting the washing done, or the meals prepared or the apartment cleaned.
In other cases, it means that a nurse has to help with giving the medication that they need. Most of these things are regulated by the states and the different states in the US have different rules about what kind of care is not allowed to be given in an assisted living residence.
In general, if retirees are in need of 24 hour a day care, they need to be in a nursing home type of facility, not an assisted care facility. But some retirement communities are quite large and inclusive and have a policy of aging in place, so that the residents can stay there in that community no matter what kind of care they need.
Baby boomers will soon be retiring in very large numbers and this will add a lot of people into the population of folks who are in need of the care they can get in an assisted living residence. That makes it a very good thing that so many more places are being built to accommodate all the people who need places to live.
The next generation of senior citizens will be sicker and costlier to the health care system over the next 14 years than previous generations, according to a new report from the United Health Foundation. We’re talking about you, Baby Boomers.
The report looks at the current health status of people aged 50 to 64 and compares them to the same ages in 1999.
The upshot? There will be about 55 percent more senior citizens who have diabetes than there are today, and about 25 percent more who are obese. Overall, the report says that the next generation of seniors will be 9 percent less likely to say they have good or excellent overall health.
It’s also bad news for taxpayers.
“The dramatic increase has serious implications for the long-term health of those individuals and for the finances of our nation,” says Rhonda Randall, a senior adviser to the United Health Foundation and chief medical officer at UnitedHealthcare Retiree Solutions, which sells Medicare Advantage plans.
Most of the costs will be borne by Medicare, the government-run health care system for seniors, and by extension, taxpayers.
Some states will be harder hit than others. Colorado, for example, can expect the numbers of older people with diabetes to increase by 138 percent by 2030, while Arizona will see its population of obese people over 65 grow by 90 percent.
There is some good news in the report, too.
People who are now between 65 and 80 years old have seen their overall health improve compared to three years ago. And people who are aging into the senior community are far less likely to smoke than earlier generations.
“Some of these trends are very good and in the right direction,” Randall tells Shots.
She says the decrease in smoking shows that it’s possible to change health behaviors, nothing that doctors, public health professionals and policy makers used a variety of strategies simultaneously to reduce smoking.
“That’s a good model for what we need to look at to tackle the epidemic of diabetes and the big concern we have around obesity,” she says.
The study also ranked states on the health of their current senior populations. Massachusetts topped the list, jumping to number one from the number six ranking it had the last time the rankings were calculated. Vermont slipped to number two.
Louisiana is the least healthy state for older adults.
Financial expert Bruce Helmer talks about the unique challenges facing Baby Boomers as the prepare to retire, Jason DeRusha and Kylie Bearse report (3:34). WCCO Mid-Morning – May 24, 2016
A recent documentary just aired on PBS called the “Retirement Revolution”. It addressed the many issues,worries, and concerns for those in the Baby Boomer generation. Some of us are already at the age when our parents were beginning to retire or,at least, slow down a little. Many of us wonder if we will ever be able to quit working.
Aside from the fact that the Baby Boomer generation has been the worst generation at the practice of saving money, I am always reading of couples who have saved & managed their money meticulously, only to be wiped out by an emergency or a turn of the economy. Of coarse, when we put some dedication, effort, and sacrifice into a savings/emergency fund, this will get us through the majority of smaller emergencies or crisis that may come our way. Most of us, including me, certainly will consistently fall back on credit sources or borrowing when we hit those bumps in the road. Since our daily cost of living keeps creeping upward (Yikes, just look at gasoline ) and many of our incomes are not, most of us are setting ourselves up for a disaster.
I think that the majority of our parents managed their money very well and used credit sparingly. They learned many financial lessons very well from their parents of which many had gone through the Great Depression. I definitely can remember my parents trying to teach me lessons or principles of money management (especially by example) But, it’s amazing how little of that I retained or put into practice in my individual life as I’ve grown older.
I’m think that many of us Baby Boomers are very much the opposite of our parents in the way we manage our money. Most of us were raised in relatively affluent times and have been accustomed to getting what we want and getting it now.
Personally, I have always struggled to manage my money, or finances, effectively. Savings has never been the proper priority it should be. As a consequence, I will be one of the many who will need to work in some capacity as long as I am capable. Since we were a generation that was largely pampered and spoiled as we grew up, it caused many of us to become the “I want it Now” generation. While some of us are able to support that lifestyle, I fear many of us are not.
Monday, May 23, 2016 News 12 NBC 26 at 11 O’Clock
AUGUSTA, Ga. (WRDW/WAGT) — Millennials are everywhere and now they can vote, or not.
“I haven’t voted since Barrack was in office or since he’s been elected. I haven’t voted in a lot of the local things,” Ray Orr said, who falls in the Millennial age group.
A Pew Research Center study shows as of April of this year, Millennials and Baby Boomers both make up 31 percent of the voting population, equal for the first time. But those Millennials are not heading to the polls.
“It’s still an untapped resource and I think a lot of millennials are just very turned off by politics,” USC Aiken Political Science Professor Matt Thornburg said.
That same study shows in 2012 only 46 percent of Millennials voted while Baby Boomers were at 69 percent. It only gets worse in local elections.
“More remote elections like mayoral elections or local elections or local primaries that divergence between baby boomer turnout and millennial turnout increases,” Thornburg said.
Thornburg says there is a small dip for boomers locally.
“Every position, representatives, the local county commissioners, whatever is happening I think people need to study,” Randy Byrd said, a Baby Boomer.
But some Millennials like Nafesha Frost try to buck the trend and view local elections like the commissioner race as the most important.
“The impact on the local city of Augusta and that’s the one I see advertised the most,” Frost said.
But do not expect a heavy Millennial turnout.
“To be honest I did not even know there was a vote going on,” Orr said.
Thornburg says while the Millennials are not voting now, they could follow a similar trend to the Baby Boomers and have voter turnout increase with age.
If you’re a Baby Boomer, you know that you are part of a great generation. There are more of you in your generation than in the generations before or after you. Yet, many of you are wondering how you are going to fare from age 65 and going forward.
There is a lot of uncertainty in Medicare, social security benefits, pensions. Younger works fresh out of college seem to scoop up the jobs, get paid more than you do, and have a handle on skills that you do not have.
How can you rise above your worries to create a significant and abundant time for yourself in the years ahead, especially from a financial standpoint?
Get Clear About Your Strengths
When fear takes over, it’s easy to forget the wealth of character traits, talents, and skills you have developed over the years. I’m guessing you have a treasure trove of abilities and skills based on your years in the work force.
The challenge is to take an inventory. Put together a portfolio of your experience. Make a list of your many accomplishments and achievements during the past decades of your life.
Get Clear About Your Mission, Vision, and Goals
Many of you, I’m guessing, have a good handle on the practice and discipline of strategic planning. Go back to the drawing board and reflect: Over the course and seasons of your life, your mission, vision, and values may change. But you can’t chart a course if you don’t know where you’re going.
Consider Hiring A Career Coach
If you live in a metropolitan area, you may want to look into some of the community colleges or universities in your area. Or you may want to do some online research into career coaches who specialize in working with the Boomer population. Having an impartial coach on your side can help you through the process of defining who you are and where you want to go.
Consider Starting A New Business
Cash flow is often the top concern for retirees when they find out that they have not saved enough, or that their pension is not what they thought it would be.
I encourage you to start increasing your financial intelligence. I’m not only talking about traditional financial planning. I’m talking about the type of financial IQ laid out by Robert Kiyosaki in his Rich Dad Poor Dad series of books.
If you can think and act like an entrepreneur, you will be on your way to creating possibilities for increased cash flow in your life. In order to do this, you will need to know your values and passions; you will need to know the type of customers you want to serve; you will need to learn to listen to your potential customers so that you know their problems; and you will need to design solutions that can help them in their lives.
This may seem challenging, but there are resources all around you! So what if you need to take a job at Starbucks, or a retail store, or elsewhere. That part-time job will put money in your pocket while you go about the real job of creating a business you can own and leverage.
I encourage you to start making a habit of learning about small business at your local library; hanging out at business networking groups; and dreaming and planning for your ideal business.
Consider Becoming A Freelancer or Consultant
In the course of talking with your career coach, you may realize that you have specific skills and work experience you can leverage into consulting jobs. Go to your library, once again, and read up on becoming a freelancer or consultant.
Make These Resources Part of Your Daily Financial Diet
I am including no links here: I am not an affiliate. However, I have found these authors/bloggers to be very helpful to me as I develop an entrepreneur’s mindset:
Type these words into Google, Yahoo, or Bing search engines on your internet:
The Four Hour Work Week, by Tim Ferriss.
Multiple Streams of Income, by Robert Allen.
I Will Teach You To Be Rich, by Ramit Sethi.
The Smart Passive Income Blog, by Pat Flynn.
I hope these strategies will give you hope. You did not learn the skills you have learned overnight: they took years of practice. Devote the next 10 years, I challenge you, to becoming the best that you can become in your area of endeavor. Change you mindset from that of a victim or a cringing senior citizen to that of a victor and sage warrior.
You can do it!!
Asking for a senior discount at the gym or the movies may be a nice perk for older consumers, but many struggling retirees oddly enough are leaving thousands of dollars in perks and benefits untouched. It’s saved money that could create some economic stability in their lives.
Imagine this: More than $20 billion of available benefits are left on the table each year, according to consumer advocates. More than 4 million lower-income older adults could increase their annual budget by as much as 29% if they simply tapped into some benefits programs, according to the National Council on Aging and the National Association of Area Agencies on Aging.
A new You Gave — Now Save guide is designed to help low-income older adults spot more information about prescription drug programs, the Senior Farmers’ Market Nutrition Program, Medicaid and low-income energy assistance programs to fill financial gaps. The guide is online and at various Area Agency on Aging offices. Go to www.ncoa.org or www.n4a.org.
May is officially Older Americans Month and is a good time to discuss some challenges many seniors face when it comes to paying their bills. We like to think of retirement years as a relaxing time to take that special cruise or knock dreams off our bucket lists, but too many seniors need far more help with their finances.
The first wave of the baby boom generation is turning 70 this year. But many are dealing with smaller pensions than expected, children moving farther away to start careers and jobs scarcer for older workers.
One in three older adults are viewed as economically insecure, according to the National Council on Aging. About 10% of seniors were living in poverty as of 2014, compared with 8.9% in 2010.
More than 60% of households headed by someone older than 60 had some form of debt in 2013. The median debt totaled $40,900 — double the amount as of 2001.
Paul Bridgewater, president and CEO for the Detroit Area Agency on Aging, said often elderly consumers don’t realize there is help available for utility bills, Medicare or food.
“We’re finding seniors are losing the ability to keep up economically,” he said.
Sandy Markwood, CEO of the National Association of Area Agencies on Aging, said many seniors 75 and older don’t want to apply for some programs, such as low-income energy assistance, because they feel shame in needing government help.
And some don’t know how to fill out the paperwork and go through the process to apply for programs.
But many times seniors are making difficult trade-offs to work within very limited budgets. Maybe they cut pills in half or only take prescriptions every other day to save money.
But learning about prescription drug benefits and ways to get help with utility bills and other senior benefits “add up and can make a huge difference in their daily lives and their budgets,” Markwood said.
The Elder Economic Index data from the Wayne State University Institute of Gerontology indicates that about nearly 60% of seniors living within the Detroit Area Agency on Aging Region 1a do not have sufficient income to take care of their basic needs, compared to 37% of the older adults residing in Michigan. The data is from the Institute of Gerontology’s Seniors Count project in 2011. The area includes Detroit, Hamtramck, Highland Park, Grosse Pointe, Grosse Pointe Park, Grosse Pointe Shores, Grosse Pointe Woods, Grosse Pointe Farms and Harper Woods.
Yet there are some resources for finding help.
A free BenefitsCheckUp online screening tool can help older consumers learn more about programs in an area that can help them pay for prescriptions and pay for food. Go to www.BenefitsCheckUp.org/campaign.
Another source: The Eldercare Locator at 800-677-1116 or www.eldercare.gov is offered through the U.S. Administration on Aging to connect older adults and caregivers to local agencies that can help them access a wide range of benefits.
The National Council on Aging also announced in May that it has teamed up with Farmington Hills-based GreenPath Financial Wellness to help older adults juggling too many bills.
As part of the partnership, GreenPath is now the hub for calls from older adults seeking reverse mortgage counseling from the National Council on Aging. To schedule a reverse mortgage counseling session, seniors can call 855-899-3778.
Mark R. Munzenberger, director of housing at GreenPath Financial Wellness, said more people in their 60s are retiring without a traditional pension. But the seniors have not really saved enough money in 401(k) plans or other accounts. The main source of income could be their Social Security check.
“They’re having trouble meeting expenses because they don’t have a secondary source of income,” Munzenberger said.
Major bills such as property taxes, health care costs, home repairs, and even buying a car can take a toll. So many seniors are looking at reverse mortgage options, he said.
Many times, seniors hear plenty about saving money on car insurance or joining travel clubs or even discounts for military veterans. All that is good. But financially-strapped and lower-income seniors need more information about some of the support that’s available, too.
Contact Susan Tompor: 313-222-8876 or [email protected] Follow her on Twitter @Tompor.
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As the Baby Boomer generation continues to grow older, their primary concerns have shifted to their health, money and retirement. The days of idly wondering where their next vacation should be and whether their bonus check will be as much as they deserve are quietly passing. Today, Baby Boomer issues are mostly about concerns with maintaining their dwindling health and having enough money to live comfortably through their twilight years.
Health Concerns For The Boomers
As people grow older, they often experience problems with their health. Their bodies grow more fragile and susceptible to diseases and bacteria. In addition, many people 50 years of age and older are reporting health problems that were not experienced by people in their same age group long ago.
This problem is exacerbated by rising health care costs. As the Boomer generation begins to require more medical care, the cost of that medical care continues to increase. Health issues and their ability to cope with them and find the proper medical support is a major concern for Baby Boomers.
Money And Retirement Concerns For The Boomers
Along with rising health care costs, Baby Boomers also worry about money and retirement. During the last several years of their careers before retiring, people usually enjoy salaries and bonuses that are larger than at any other point in their career. As a result, money is rarely a major concern.
However, many people fail to save that money. Instead, they spend it on vacations, their families and in the pursuit of living fun and fulfilling lives. This can lead to a rude awakening when they retire. Because they have not saved much money during their career, a lot of people discover that they do not have enough money to live comfortably during their retirement years.
When they retire, they no longer earn a salary. They no longer receive bonus checks. Instead, they are forced to live off the income that can be generated by the investments they have made throughout their lives. Unfortunately, many have not invested any money that can generate this income.
Other Baby Boomer issues complicate this money problem. People live longer lives today. When a Baby Boomer retires, he can expect to live many years in retirement. In the past, a 65-year old man could expect to live approximately 10 years in retirement before passing away. The financial requirements of living comfortably for these 10 years were manageable for most people.
Today, financial planners use a life expectancy of 90 to 95 years. That is, when a person retires at 65 years of age, he can expect to live up to 30 years in retirement. With dwindling health, rising health care costs and a lack of savings to generate a fixed income, the financial requirements of living 30 years in retirement are out of reach for many people.
These health, money and retirement concerns will grow as more of the Baby Boomer generation moves into retirement. Some will choose to work part-time jobs to keep active, stay healthy and generate supplemental income. Others will require the aid of family and friends. Still others may require more help than is available to them. As the Baby Boomer issues are beginning to emerge the Boomers will experience the issues that have been quietly gaining momentum for years, their health, money and retirement concerns will continue to grow.
Flowers are being placed Saturday on the Hollywood Walk of Fame star of Emmy-winning actor Alan Young, best remembered for playing straight man Wilbur Post opposite a talking horse in the 1960s television comedy “Mister Ed.”
Young died Thursday of natural causes at the Motion Picture & Television Home in Woodland Hills at the age of 96. He lived in the retirement community for more than four years.
Born in northern England, Young was raised in Scotland and then Canada, where he began working on radio as a teenager, both as a writer and a performer. His work on the Canadian Broadcasting Corp. led to a job offer in New York, and he developed “The Alan Young Show” that ran on radio from 1944- 49.
With the dawn of the television era, Young moved to the small screen with “The Alan Young Show” a variety show on CBS that ran from 1950-53 and won the Emmy in 1951 for best variety music or comedy series, beating out Milton Berle’s “Texaco Star Theater” and “Your Show of Shows.”
Young won an Emmy in 1951 as television’s best actor in a field that also included “Your Show of Shows” star Sid Caesar, Jose Ferrer, and Stan Freberg, the voice of Cecil the Seasick Sea Serpent on the puppet show, “Time for Beany.”
Young also received an Emmy nomination in 1951 for outstanding personality, losing out to Groucho Marx, who hosted the quiz show, “You Bet Your Life.”
Young also appeared in a series of films, in the 1940s, 50s and 60s, including “Mr. Belvedere Goes to College,” “Gentlemen Marry Brunettes” and “The Time Machine.” Decades later, he appeared in “Beverly Hills Cop III,” starring Eddie Murphy.
He gained fame, however, with the role of Chatsworth architect Wilbur Post on “Mister Ed,” which premiered in syndication on Jan. 5, 1961, the moved to CBS in September 1961.
Wilbur often became the foil of shenanigans by his horse, Mister Ed, who would talk to Wilbur but nobody else — although he would also occasionally make telephone calls that inevitably led to trouble for Wilbur.
The show ended its run in 1966.
Although he took a roughly 10-year break from television, Young resurfaced in the 1970s, appearing in films and various TV shows, including “The Love Boat,” “St. Elsewhere,” “ER,” “Coach,” “Party of Five” and “Sabrina, the Teenage Witch.”
Young was also the voice of Scrooge McDuck in Disney’s “DuckTales” series. He also lent his voice to characters in “The Smurfs” animated series of the 1980s.
Young was married three times and had four children. Officials at the MPTF said his children were at his side when he died.
Flowers are scheduled to be placed on Young’s star on the Hollywood Walk of Fame at 2 p.m. The star is located at 6925 Hollywood Blvd., near Highland Avenue.
Donations in his name can be made to the Motion Picture & Television Fund at http://www.mptf.com/tributegift and to Y.E.S. The Arc at http://www.yesthearc.org, a residential program for people with special needs.
—City News Service
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