If you’re a baby boomer like me, you’re already keenly aware of just how self-reliant our generation has always been.
I mean, seriously, I didn’t like depending on anyone other than myself from almost as far back as I can remember.
Which was yesterday.
Joke! Just kidding. My memory’s fading, but it’s not that far gone!
Anyway, I stumbled this morning on an interesting study that confirms how self-reliant we aging boomers are… and will continue to be… and I’m going to share it with you here:
Baby boomers aging to be self-reliant
Universite de Montreal demographer offers prediction of boomer future
Montreal, April 26, 2010 – Baby boomers are retiring healthy, financially secure and with a desire to travel. According to Université de Montréal demographer Jacques Légaré, baby boomers will remain among the most self-reliant generations to reach their golden years.
“They’ve been independent their entire lives. They won’t stop being self-reliant when they get old and sick,” says Légaré, noting he’s ready to back his hypothesis as he’s done at various national and international conferences.
Baby boomers were born between 1946 and 1966. In Quebec, they are credited with overcoming religious and sexual barriers. They built the modern infrastructure we know today and set up most social institutions. They have very few children, and according to Légaré, they don’t plan on counting on their progeny to look after them in their golden years.
“They are usually well educated and have great financial means,” says Légaré. “They benefited from generous pensions and have contributed to RRSPs for decades. They plan on taking advantage of that and they will.”
Traditionally, when someone gets sick their spouse will care for them. If the spouse can’t do so, or if the person lives alone, they will turn to their family or rely on friends.
Boomers, however, could rethink this hierarchy. What will the boomer reliance system look like? Légaré believes boomers could live together in plush houses where they share the cost and services of a private nurse or independently. This cohort is referred to as the Silver Economy in the United States.
Légaré also believes aging baby boomers will radically change our health-care system. “We won’t put as much money in specialized medicine seeing as demand will mostly be for primary care.”
Massive investments in cancer treatments or artificial hearts, says Légaré, aren’t justified. “If a 72-year-old dies of cancer, it’s a shame but it’s not tragic,” he says. “We all have to die of something. Faced with an aging population, we will have to make such choices.”
“Life expectancy in Canada is 80-years-old. This reflects on the quality of life our country offers. We will have to stop investing in costly treatments that extend life, oftentimes, to inhumane conditions.”
I’m glad to hear so many of our Canadian boomer brethren will be able to retire financially secure. I’m sorry to say I don’t think that’s going to be the case of many American baby boomers.
It’s awful, but a lot of aging boomers in the U.S. who worked their asses off their entire lives have had to put off retirement (including poor old me) because the Greedy Bastards in Wall Street and in Washington have built an economy based on smoke and mirrors — absurd home loans, credit card debt beyond belief, commercial real estate deals so complicated Einstein’s brain would shoot off sparks just trying to figure them out, bailouts to guys making bonuses every year the size of Vermont, deficit spending that grows by millions by the day, and so on and so forth until even a sane, non-violent person wants to jump in the air and come down stomping with both feet on those who are jeopardizing the future of our children and grandchildren.
Regarding health care, I can only speak for myself. My intention as I age is to continue to do as I’ve done my entire life: take responsibility for my own health and avoid doctors and the medical establishment like the bubonic plague.
As far as living in a plush house with other baby boomers, I don’t know about that. You may be different than me, but I have enough trouble living with the people in my own family… people I’ve known and loved my whole life.
So — at least at my current age of 62 with my senses still more or less intact and functioning — living with other aging boomers in the same house (no matter how plush) seems a bit problematic.
With that said, I admit that when I’m looking quite a bit further down the road I do give occasional thought to the idea of at least exploring the viability of setting up some kind of mutually supportive community living consisting of a small group of self-reliant and similarly-thinking men and women.
Well, enough already.
Research and ranting aside, baby boomers are going to have to be more self-reliant than ever during their Golden Years.
Of that I have no doubt.
Well, those are my thoughts for this beautiful Saturday morning here in my neck of the woods.
Now it’s your turn.
What do you think about all this? Speak your mind by replying and commenting below.
Chet
Hopefully these tips have been helpful. What do you think?

Tags: self-reliance