Baby boomers make up the majority of the U.S population today. They are born between 1946 and 1964 and witnessed a lot of changes throughout their lifetime. But more changes will follow before and during retirement that baby boomers should address early.
For this month’s roundup, we have compiled five articles that can help baby boomers handle tough retirement concerns such as long term care cost, disordered eating, downsizing, alcoholism and loneliness.
Baby Boomer Generation is worried with the Rising Cost of Long Term Care
One thing that might draw concern from baby boomers is the cost of long term care that doesn’t come cheap. The cost of nursing home is around $100,379 annually. While according to a country report, a growing majority of baby boomers have a strong desire to remain at home, they are still considered with the rise of care costs.
Medicare can cover some expenses for nursing home stays for eligible individuals but just for a limited time. That leaves paying for nursing homes, assisted living facilities, home care and other long term care services out-of-the-pocket.
In the end, Valerie VanBooven of HomeCareDaily.com reminds all baby boomers to be aware of the true benefits of home care and how can long term care insurance offset the high cost of care.
Baby Boomers and Eating Disorders: The Rise of Disordered Eating at Midlife and Beyond
Eating disorders choose no age or gender. These can happen repeatedly to anyone or the first episode will occur at middle age. In fact, Veritas Collaborative claims that there’s an increase in men and women at midlife and beyond seeking treatment for eating disorders.
Disordered eating is often triggered by these events and transitions in life very common at this stage:
- Divorce
- Menopause
- Infidelity
- Natural signs of aging
- Death of a loved one
- Retirement
- Empty nest
- A child’s marriage
- Aging parents
- Financial pressures
- Illness
It has a tremendous impact on almost every organ system of the body. Since these systems deteriorate as you age, baby boomers develop chronic conditions such as osteoporosis, kidney disease or diabetes. Having an eating disorder exacerbates these conditions and causes other conditions such as anorexia, obesity, gastroparesis, cognitive condition and more.
But help is just within reach as Veritas tailors care to help baby boomers struggling with eating disorders to recover.
What Boomers Should Do About All Their Stuff
Richard Eisenberg of NextAvenue.com shares his conversation with Laura H. Gilbert, author of the smart new book, The Stories We Leave Behind. Her advice is to “take what she calls a “legacy-based approach” to dealing with your stuff.”
Her book goes deeper than downsizing. It’s more of embracing the things you want to leave behind. The legacy-based approach to dealing with stuff is very beneficial in ways that it gives you freedom. Getting rid of some of your stuff becomes an enjoyable family affair because you learn new things about each other.
Instead of letting your stuff become your family’s burden, why not try this strategy by Laura.
Baby Boomers and Alcoholism: Why More Seniors are Drinking
Alcohol abuse is often associated with the younger generation. But based on recent studies, seniors 50 and up are drinking dangerous levels of alcohol and they are doing it more today than in the past.
According to a study published by the Journal of the American Medical Association, there’s a 23% to a number of adults 65 and above who are drinking. There’s also a 107% increase in the number of adults 65 and older who are suffering from alcohol abuse.
According to Ocean Breeze Recovery, alcohol abuse poses dangers unique to seniors. Since their body can no longer keep up with their drinking habits, they might become at risk for over-drinking, falls, factures and can worsen health problems like liver problems, high blood pressure, diabetes, memory problems and others.
Baby boomers shouldn’t be ashamed of their problem and seek help if they are struggling with substance abuse.
Solving the Baby Boomer’s Loneliness Crisis
Loneliness and isolation are common issues for seniors and according to The Wall Street Journal, it is becoming a growing problem among baby boomers. It makes sense because baby boomers today have fewer children and marriages ended in divorce compared to earlier generations. As a result, around one in six baby boomers live alone.
The impact of loneliness is also felt in the senior’s mental health. They will most likely experience cognitive decline or depression compared to baby boomers who have a strong network of family and friends.
According to MyLifeSite.net, baby boomers should take matters into their own hands despite challenges like whether you have a spouse or children to avoid loneliness. They should form community-based groups, support one another with things like common household needs, transportation, and social opportunities.
Conclusion
Baby boomers can never run away from these retirement concerns and expect to live a retirement they have imagined. They need to address these issues early to secure their future and also to protect their loved ones from financial and emotional woes later on.