I have been stewing with some thoughts and observations about being a “boomer” for months now–finally found an essay contest to help me focus my thoughts–it’s a little long, so I’ll share it in sections. Wonder if others feel this way too–
Isn’t it funny how we don’t call ourselves “Boomers” but everyone else puts us in that slot? Actually, to read about us in the media, I increasingly feel that I’m an albatross. Whether we’re a curse or blessing depends, as our community organizer heroes used to say, on “who is asked what by whom”.
To the next generation, we are the economic albatross; the weight they carry, trying to meet the promises government made to seniors in radically different times. Living longer, we ravage the Social Security system, leaving our children to fend for themselves with a murky future dependent upon their private investments. Actuaries predict our health care needs will bankrupt Medicare and Medicaid, leaving onerous specters of an aged apocalypse. The refrain we hear from the doomsday chorus: “they didn’t save enough. They expect the government to cover for their lack of planning.” Many see us as the antithesis of our parents, “The Greatest Generation,” whose stolid frugality and self-sacrifice paved the way for our feelings of entitlement. Some in the media have even labeled us the “Greedy Generation”.
Whether or not we feel especially greedy, we do threaten to consume the lion’s share of available resources. According to the US Census, our over-65 population will grow from 35 million now to 70 million between 2020 and 2030. Based on actuarial tables, for those individuals who live to age 65, more than half, 53%, of single females and 41% of single males will still be alive at age 85. For married couples, 72% will have at least one spouse alive at age 85. If 75% percent of workers file for Social Security at 65, many of us will need resources for 20 years of retirement. How can any culture afford to support 21% of its adult population for 20 years?
Clinicians have had to redefine categories of aging: the young-old (65-74), the old-old (75-84) and the oldest-old (85+). Although this redefinition is two decades old, we have been slow to re-define roles for ourselves for these stages of life. Yet, clearly the old roles either “working” or “retired”, don’t serve us well. The lack of defined usefulness to society that comes with the “retirement” mantle creates a schism between us and younger generations.
The financial experts’ battle cry “Work longer, retire later” is hard to hear. The current system is set up to let us go and many of us are more than ready to leave. In past generations, elders were a blessing to their societies. How do we again become a blessing to our society?