Boomers Delving Into Possible Future Issues, Are They Prepared For The Unthinkable?

The realities of baby boomers entering into retirement is no longer a simple matter, whether you are a few months, years or decades away from retirement, we should expect the best and worse case scenarios. Baby boomers should expect longer but not necessarily healthy lives, more expensive cost of living. market uncertainty, health and long-term care cost  and inflation.

Photo credit: hcmmlaw.com

Protecting Adult Children From the Impact of Baby Boomer's Aging

With more than 70 million baby boomers, the aging population is expected to have a dramatic impact on the country's economy as they are expected to live longer and a vast majority of them are unprepared for retirement, these large number of seniors will soon be taking money from retirement account such as social security and IRA. As they make up a large portion of the population, moving into old age would seem to be another challenge not only for the US economy, but for their adult children as well.

Photo credit: nextavenue.org

Boomer's FitnessTrends - A Healthy Way to Grow Old

The largest generation in the US has changed the health, retirement and long-term care industry of the country, over the last years, boomers have been frantically freaking out and panicking over issues about the need to go over their financial plans and prepare for retirement's biggest risk - health and long-term care. The main issue surrounding these trends is the increasing cost of health and long-term care services at a very fast rate. They were too busy building funds for these risk and almost forgot that they could do something to prevent some health and long-term care condition.

Photo credit: BoomerCafe

Looming US Deficit, Are Baby Boomers to Blame?

Baby boomers are known to have spend their younger years living in prosperity, and enjoyed these lucrative years until the great recession occurs. Now that all of them are in their retirement years, the US government is providing them with health, long-term care and retirement benefits, which eats up most of the national, federal and state budget.

The country is living with more debt, and federal debt is currently in the highest level. The country's debt was not expected to increase sharply, until recently, when boomers start retiring and rely on their social security and government funded health and long-term care programs. Medicare and medicaid are already strained programs and are considered bankrupt. With all these facts, are the baby boomers to be blame for the country's huge financial deficit? This is the same arguments posted in USNews, and suggested that boomers should be responsible in fixing the debt.

Photo credit: www.cbsnews.com

Retirement Reality for Baby Boomers

The baby boomers generation is facing more challenge when it comes to retirement, if you are going to check updates and news about the baby boomers, you will find out that most of the issues concerning them have something to do with retirement and financial planning. This is because all boomers are in their retirement years now and majority of them are still struggling to build a nest egg.

Photo credit: www.fool.com

Long-Term Care: Believe It Will Happen To You

For most baby boomers, they want to remain independent and stay in the comfort of their home as they enter their retirement years, it is an important factor for them for aging in place. However, this may no longer be an option once a catastrophic event like a health or long-term care crisis arises.

For those who are still healthy and well-abled, they usually don't think that crisis may happen, but a sudden fall. accident or illness can change everything. As baby boomers age, they become frail and susceptible to injuries, the perception that things like these are never going to happen suddenly becomes reality. 

Photo credit: nvseniorguide.com

Baby Boomer's Long-Term Care Expenses, A Personal Responsibility

When the CLASS Act was repealed, medicaid spending is expected to increase dramatically. A lot of baby boomers were looking forward to the said program, however, legislators and executive body think that the program may not be feasible and will be facing enormous budget funding. Medicaid is the single largest payer of long-term care expenses, and with millions of boomers not having any plan on how to cover this expense, they resort to relying on the program and go beyond the point of engaging in an activity called medicaid planning just to be eligible for the program.

Photo credit: lynnlawrencepa.com

Baby Boomer's Health and Finances: Which One Must Be In Good Shape?

Most often than not, the main concern being discussed about baby boomers is finance, a lot of boomers are worried about their financial strength more than anything else. It also plays a big role in their retirement, estate and most especially financial planning.

Photo credit: www.longtermcareprimer.com

However, a survey done by Allianz proved this wrong, the result was surprising! More baby boomers are concerned about fitness and wellness, and finances only comes in second. However, this trend among boomers seems to be a little bit confusing in terms of professional help. Although majority of older adults may want to keep themselves healthier, only a few considered getting professional help to guide them in their health and fitness campaign. And a lot of them are willing to seek or consult an expert in terms of financial planning.

Aging in the Workforce: Baby Boomer's Retirement Crisis

When it comes to baby boomers, retirement is a major issue, there are things that worried and terrified them, thus, a lot of boomers are planning to stay in the work force to build a bigger nest egg, and wants an extended time to accumulate more money.

Photo credit: www.wwspi.com

Heart Disease - A long-Term Care Illness Posing A threat to Baby Boomer Women

In our previous blog, we joined millions of Americans in observing World Cancer Day to help spread awareness, prevention and treatment for the disease, today, we may see a lot of social media post about women wearing red dress with the hashtag #GoRedForWomen. Ever wondered why those women are all wearing red? Because its National Wear Red Day, which symbolizes the observation of heart disease awareness.

Photo credit: http://www.jackson.va.gov/

Cancer Crisis: A Burden for Aging Baby Boomers

Today is World Cancer Day, a lot of people are joining hands to help spread awareness about this chronic illness and encourage the prevention, detection and cure to the disease. Considered as the second  most common or leading cause of death, this disease may require a patient to be on long-term care services, around 8% of claimants are affected with this illness. Cancer can affect people from all walks of life, regardless if you're wealthy or poor, young or old, however, the most significant risk factor of cancer is age. This being said, seniors and boomers have higher risk of developing the disease.

Photo credit: www.examiner.com

Baby Boomer's Health is Wealth

"Health is wealth", this is an old saying but holds true especially for aging baby boomers. The burden of health and long-term care cost are being shouldered by majority of our aging population since they are prone to be care recipients due to the effects brought about by aging.

Long-Term Care Insurance: Does Baby Boomer Need It?

You may have read, seen or heard that for people aged 65 and above, the odds of needing long-term care services at some point in their life is 70%, so how come baby boomers are ignoring this prospect? Boomers have seen their parents struggle with long-term care, they are aware of the emotional, mental and physical devastation people have to deal with as a result of not taking necessary actions to plan properly for future health and long-term care needs.

Boomers Live Better When Cared at Home

The process of aging as they say, is inevitable, it is something beyond our control, therefore, we must learn to accept and make the most out of it. Boomers are very much aware of this fact, and with aging comes frailty and immobility. Although this condition does not cut across all boomers and aging individuals but most of them experience it as they age.

Photo credit:http://seniors.lovetoknow.com/ 

Baby Boomer's Early Retirement: Health, Finances and Long-Term Care Issues May Interfere

Based from different surveys and studies, baby boomers are more worried about the affordability of health services than their own health. Health and long-term care issues are threat to their financial strength, thus, a threat to their retirement savings and plans. It will impact not only their finances but also their relation to their family.

Photo credit: www.longtermcareprimer.com

Boomer Health: How Sitting Can be Hazardous To Your Health

Perhaps the best gift you can give to an aging loved one is health, health is indeed wealth and no amount of money can guarantee that you will be healthy for the rest of your days. It is your personal responsibility to stay fit and healthy.

Baby Boomer's New Year's Resolution: Health, Finance and Emergency Fund

Another year has passed and another year will be added to the baby boomer's age. Aging baby boomers may find it elusive to make a list of resolution that will not be forgotten nor ignored just like any other new year's resolution. They are now more focus on doing and creating things that will benefit them as they age.

Photo credit: www.longtermcareprimer.com

Baby Boomers Overlooked True Cost of Long-Term Care

Planning for long term care is anticipating and preparing for your future care needs. More than half of people aging 65 and older will require long term care. Meanwhile, those who are younger are not impervious to this need. In fact 40% of those aging 18-64 have a possibility of needing care even if they are not yet in their elder years. Planning is essential but before you get started, you must first have the answer to the question, “What is long term care?”

Photo credit: www.today.com

Long term care pertains to the services that a person needs in order to retain the quality of his daily living. A huge part of long term care deals with providing assistance in basic tasks such as bathing, eating or getting dressed. These are referred to as Activities of Daily Living. Long term care mostly deals with the custodial needs of a person.

Health Concerns of Baby Boomers: A Burden Imposed by Aging

Health is always a serious matter and we humans try our best to prolong life itself. Years of study and research has successfully prevented many diseases from taking lives but there are still chronic ailments that we do not have a cure for. Most of these causes can be prevented by having long term care.

Many of these illness are related to aging but the incident of dying can still be prevented. Some incidences of death are caused by unsupervised activities. Some of these deaths could have been prevented by having someone watch over them and monitor their actions. There are several causes and Deanne Goodman discussed the top 10 health concerns for baby boomers. 

Photo credit: Patch.com

Useful Tips on Long Term Care for Baby Boomers

Photo creadit: Flickr.com

Long term care allows senior citizens to maintain good health and manage their daily life as they stay at home or in facilities. Although it is better to apply for long term care insurance at age 40, many Americans choose to enroll when they are over 60. Long term care for baby boomers is essential for their well-being and even financial stability.