Thursday, January 29, 2015

Aging the Boomer Way: Who Will Take Care of Childless Seniors?

Statistics revealed that 1 in every 5 baby boomers is childless, that is about 15 million boomers who never had children. And since boomers are mostly in their retirement years, there is a looming crisis on who is going to take care of them? We are all aware that the foundation of caregiving is family, majority of caregivers are spouses and children, for spouses who are childless, women are expected to provide care, if so, who will take care of her when she eventually needed care? And how about single boomers who are likely to live alone in their old age?
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This is one of the many issues that concerns the largest generation in US, this was discussed by Anita Creamer in one of her article in SacBee,  one of their greatest fears is to age alone without families and loved ones to take care of them. Therefore making preparation for old age and retirement should be a necessity.

If you happen to be one of them, it is high time that you evaluate and reassess your plan to see if you have address this issue. Do you have someone whom you can trust so you can create an advance directive and a special power of Attorney so in case you can no longer take care of yourself or decide for yourself, these legal documents will help you out. Consider having bill payment on automatic bill payment and consider having insurance like health and long-term care insurance.

Being childless can be an enormous challenge, you will face uncertainty in your future years, but aging is indeed inevitable, no matter how hard it may be, it can be more comfortable with careful planning and preparation.

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