As the Baby Boomers and Gen X-ers age, memebrs of these groups are becoming increasingly concerned with their future financial and physical well-being. Although Americans approaching retirement age are striving to eat healthier diets and contribute more to their investment accounts, there are additional steps that can help prepare for the future. Louis John Stanzione at Fairfield Green Enterprises in Summit, NJ, believes in offering additional incentives to their customers by connecting with new markets to ultimately provide American families with the coverage they need.
Most Americans understand the importance of carrying sufficient life insurance to make sure their loved ones are cared for after they're gone. However, less than half of
Baby Boomers are self-assured, and independent. They also have a strong work ethic and aren’t afraid of hard work. They prefer structure, a right path of learning to reach their goals. Baby boomers aren’t afraid to put in a hard day of work when it is due. Baby boomers aren’t familiarized with technology. They appreciate a good challenge, and accept a mission to increase their knowledge and push them past their limits. Unlike Baby Boomers, Generation X is familiarized with technology and incorporates it when necessary. Generation X tends to entrepreneurial thinkers and reality driven, and their mentality is will lecture assist them in the real world. These two groups come from a different background and the way they view behavior.
non-Hispanic African Americans, who will represent the largest minority group in the Baby Boomer cohort (Frey, 2015). This segment of the Baby Boomer generation is projected to grow to 12 million by 2060. In 2014, African Americans made up 9 percent of the older population, but by 2060, this number is expected to grow to 12 percent (Administration for Community Living (ACL) & Administration on Aging (AoA), 2015).
Data from the Census Bureau tell us that in 2015, there are around 47.8 million Americans age 65 and older, up from about 25.5 million just 35 years ago; demographers predict that in another 35 years, there will be nearly 88 million Americans in this age group. The rate of growth of the “oldest old” population—those age 85 and older—is even more dramatic: Their numbers currently stand at approximately 6.3 million, but by 2050, that number will have almost tripled, to 18.7 million Americans. This population explosion is unprecedented in history, and the resulting demographic shift is causing profound social and economic changes.
Aging Americans, like other age groups, are feeling the effects of the declining real estate and stock markets, as well as soaring fuel and food prices. Seniors’ economic security will only increase in importance as the U.S. population ages. The nation’s health and social services resources will face unprecedented demand as 75 million people in the baby boomer generation reach retirement age—some with eroded savings and retirement accounts. Aging people of color are more likely than white
The baby boomer generation adds a new sixty five year old every eight seconds and they have a lot to offer. InterGENerosity provides both opportunity for employment and receiving in-home assistance with activities of daily living. Older adults have the skills and
40. How do you suppose the demographics of an aging population of “Baby Boomers” in the United States will affect the demand for milk? Justify your answer.
For many elderly, the nursing homes are their only primary option. As American ages with extended life expectancy, more people will become residents of nursing homes. According to report, the aging "baby boomer generation" will demand more long-term care services over the next half century. The number of individuals that will use either nursing facilities or home care services is "expected increase to from 15 million in 2000 to 27 million in 2050" (U.S. Department of Health and Human Services, 2003). This figure will increase as the number of elderly will need such care, "with estimates of as many as 8 million in 2000 to 19 million in 2050" (U.S. Department of Health and Human Services, 2003). The growth of the baby boomer population has brought
This is a small sample, survey and by interviews asking four Baby Boomers and three Generation Xers. This will help establish a demographic, by ethnicity, age, gender and education attainment. Each person interviewed asked to state a belief, value, norm, and a tradition. The results are in here are the similarities and differences between the generations and cultures.
The aging of the baby boomers is not just a demographic issue. It has important economic implications. Owen and Griffiths (2010) argue that the baby boomers can best be seen as a generational bulge that occurred between 1946 and 1964. This generational bulge is so large that it drives the economy during each state of the baby boomers lives (p. 76). This suggests that the aging of the baby boomers is a demographic issue with important economic implications.
Today, the certainty of receiving sufficient benefits solely from Social Security for a quality standard of living after retirement is indefinite. Baby boomers—individuals born post World War II between 1946 and 1964—are beginning to claim their benefits, and given what I have learned in class, the number of individuals entering the workforce is inadequate to sustain such a large population, thus such generation will consume
Because the development of racial stereotypes is important to address and understand, in terms of stereotyping, prejudice and discrimination, the ongoing exploration it is to know how will individuals limits those actions. The current study indicates the ways in which Baby Boomers and the Millennials generation uses racial stereotypes towards one another. The evidence and research allow us to discover that the Millennials generation is most likely to use more racial stereotypes because of the exposure they were given. A highlight of the research that was given was by writer Todd Nelson, in which he stated “Researchers know more about racism & sexism, but comparatively little about prejudicing & stereotyping based the generation” (Nelson 1998),
The Baby-Boom generation is nearing retirement and it is clear that millions of aging Boomers are financially under prepared. Reasons are many - poor savings habits, rising medical costs, the demise of guaranteed corporate pensions, and the dreaded squeeze faced by many: i.e. having to pay college costs for their children, care for their elderly parents, and save for retirement, all at the same time.
Many people in the "baby boomer" generation are staying active as they age. By either jogging, swimming or becoming part of a sports team. They strive to remain youthful and mentally young and view retirement as an active period of their life. Theirinterest in health , fitness, looking young and attractive and longevity is quite phenomenal. They can expect to live longer due to medical advances however stress and burnout could impact on this expectation of longevity. They are well educated, thirsty for information interested in travel and will want to stay involved in the political processes. In addition they are optimistic, forward thinking and undoubtedly redefine old age. As the oldest of the nation's 75 million baby boomers approach the age of 60, a Pew Research Center survey finds many are looking ahead to their own retirement while balancing a full plate of family responsibilities either raising children or providing financial and other
Aging American must now secure other streams of income for retirement to secure their lifestyle, for which they’ve grown accustomed,
H. (2007). The united states can afford the boomers. Health & Social Work, 32(3), 165-168. doi:10.1093/hsw/32.3.165