Baby Boomer Cohort: A Case Study

1.) What difficulties—from retiring baby boomers in the United States to a graying China, to the massive overhang of Europe’s elderly—can private corporations, governments, and other sectors expect as the aging revolution unfolds across the globe? How will changing demographics affect workforce composition? Retirement age? Pension outlays? Taxation? Immigration? Economic growth? How can governments, corporations, and nongovernmental organizations work together to address these issues?

Demography is the science of human populations and their change over time, and the United States Census reveals important demographic changes decade-by-decade that affect politics, government and public policy. One of the most important demographic trends is that the U.S. has become a far more multicultural and multilingual society than it was in 1960, due in part from changes in the immigration laws in 1965 that abolished the quota system of the National Origins Act that favored European immigrants. As a result, Asians and Hispanics have been the majority of new immigrants over the past forty years and states like California and Texas already have majority-minority populations or soon will have. At some point in the 21st Century, the U.S. as a whole is going to become a majority-minority society for the first time in its history. Another major demographic trend is the rapid growth of the over-65 population as the Baby Boom generation begins to retire, which will mean heavier expenditures on federal entitlement programs like Medicare and Social Security. Elderly voters are also the most politically active group, especially when protecting these key safety net programs, and this has become a major political and public policy issue in recent years.

With the generation of baby boomers approaching senior age by 2025, it may be difficult for them to adjust to the new technology and implement it in their everyday activities. Baby boomers are commonly known for the rejection of modern conveniences in exchange for traditional technology and for traditional values. So how will this cripple the changing trend of life for the aging population and there to decisions of living at home alone and last but not lease Medicare and the risk factors of making such a life changing decision? These issues create a group who are underserved and vulnerable. Underserved because of the barriers they encounter when caring for themselves by trying to eat healthy and the inadequate health care cost. Vulnerable because of the economic disadvantages and the health conditions they may face while dealing with this financial burden. If these problems are not address we will a heavy burden in our healthcare system.

During the “Baby Boomer” era, following WWII, America underwent one of the largest demographic shifts and population growths in history. Huge amounts of home construction on the outskirts of America’s largest cities, known as “levittowns” became the new staple of the American dream, with the houses sporting two car garages, and white picket fences. These low density, predominantly middle class residential districts, were America’s first true suburbs. These suburbs were constructed mainly in response to the new postwar consumerism that enveloped the parents of the baby boomers. With the new economy, affordable housing, and most families becoming single income dependent, families grew bigger and bigger. The 1947 passing of the bill that lead to the interstate highway system, only added fuel to the fire of suburbanization. With the new interstate highway system, more affordable and fuel efficient automobiles, and the government aiding in the financing of new suburban homes, the choice seemed elementary. All of these factors pushing to the suburban movement, only spurred the baby boomers on, and between 1940-50, there was an 835% percent increase in living births with nearly 4 million children being born every year. In 1940, 19.5% of the United States population lived in what would be considered to be suburban areas outside of large metropolitan areas, however, by 1960; the number was pushing nearly 40%. The postwar suburbanization of America during the baby boomer

o     Social Security has made a difference in the lives of African Americans o     Without Social Security, the poverty rate for elderly African American beneficiaries would increase from 21 percent to 60 percent. o     Social Security is the only source of retirement income for 37 percent of elderly African Americans. o     African Americans face different situations when it comes to retirement.o     Social Security is race neutral – individuals who are in identical life situations are treated the same. People, however, are rarely in identical situations. African Americans tend to have lower earnings than whites and less pension coverage. Therefore, Social Security benefits are disproportionately important to them.o     African Americans have lower life expectancies than whites. The average African American male currently aged 65 can expect to live to about age 79,

There are more people of the Hispanic and Latino race in Baltimore now than in the 1980’s. The number of African

The challenges and impact of Baby Boomers on long-term care systems are going to modify the manner in which traditional health care, patient access, financial payments and treatment are delivered. Baby Boomers will have an extensive amount of care maintenance needs involving various rehabilitation conditions, acute and chronic illnesses, which will require a significant amount of thoroughly trained gerontologists, skilled nurses, nurse practitioners, social workers, community advocates, and family involvement. This article explores options sought to reduce the costs to society and Baby Boomers as innovative savings, tax credit options, and other alternative long-term care financing choices lessening the impact on the long-term care system.

Over the next 50 years ageing baby boomers will have great impact on the Canadian economy in the area of health care. Baby boomers who were born between 1946 and 1964 increased the demand for elementary schools, high schools, post- secondary education and family housing. By 2062 many baby boomers will turn 100, now that they are aging, the demand for health care, death services, retirement homes and medicine is increasing. From 2015 to 2062, there is a predicted cost of $7.2 trillion that will be spent in health care for senior citizens. For funeral services for the baby boomers in 2015, there is an estimated cost of $2.8 trillion, and old pension cost of $1.3 trillion. The senior

Shopping: Shopping for the Baby Boomers would have been somewhat limited. The traditional Macy's experience would be about as dynamic as a Baby Boomer could get in terms of choices. If the local Sears didn't have what they needed, they'd have to go to a specialty store and take the number from the catalog, and if they were lucky, get the correct item ordered in about 4 - 6 weeks!

Before we can get into the juicy information pertaining to the fascinating period of Baby Boomers, we must first take a quick glance at what was happening before this occurred.The main event that came to a conclusion that had a significance to the world and is a recent and relevant topic to the Baby Boomer period was the end of World War II.World War II had been going on since 1939 when the Nazi army and the Soviet Union united invaded Poland, resulting in the British and French declaring war on Germany.The allies allow Hitler to commit illegal actions without deciding to go after him(they just sat and watch him invade and grow as the years went by).It seems over for the Allies until the Japanese decided to obliterate Pearl Harbor December

Baby Boomers constructed America in the 1960s, and soon the Millennials will get their chance. Baby boomers are currently the largest generation of active workers. Research has shown that boomers identify their strengths as organizational memory, optimism, and their willingness to work long hours. Many earned, many still earn high incomes. The millennial generation, born between 1980 and 2000, are starting to enter businesses in large numbers. However, they do not have the same views and values when working compared to the Boomers. This Boomers grew up in organizations with large corporate hierarchies, and Millennials grew up with management structures and teamwork based job roles. By 2025, millennials will make up the 75% of the workforce replacing the Boomer generation. But, are they ready for the workforce and is the workforce ready for them? I think they would be ready if businesses are able to change and adapt towards them.

Latinos are the fastest growing minority group in the United States. According to U.S. Census Bureau, the Hispanic population, as of July 1, 2013, has grown to approximately 54 million (Office of Minority Health and Health Equity, 2015). This increase in population represents approximately 17% of the U.S. total population, making people of Hispanic origin the nation's largest race minority. The U.S. Census Bureau projects the Hispanic population to reach over 100 million by 2060; a projection that will make the Hispanic population approximately 31% of the U.S. population (Office of Minority Health and Health Equity, 2015).

Financial elder abuse is a prominent issue in the world, and will continue to increase due to financial burdens the Millennials will face in their upcoming years. The fear of Social Security benefit reductions as well as the increase of college tuition prices, will add to future financial elder abuse incidents.

Sex, Drugs, and Happiness: The Legacy of the Baby Boomers The baby boom delivered a new generation that would essentially sculpt the United States in the decades to come. The hippie movement and its opponents not only impacted their generation, but every birth cohort that has followed. The baby boomers are primarily known for the rebellious attitude of a small clique of the cohort, the hippies. This group of people had the impacts of war thrusted upon them in childhood, were exposed to drugs and sex as teens, and still manages to be considered one of the most influential generations.

I would target the baby-boomers in the Williamson County area. This is the wealthiest county in Tennessee. I have worked in this area at Wells Fargo Bank and personally experienced checking deposits. The vision and value will still be towards low cost structure and environmental awareness raw materials. I would tweak the service to better accommodate the older demographic. I would partner with Massachusetts Institute of Technology for research and development. Investments will be made to develop robotic systems to assemble the do it yourself furniture (Hodson, 2013). This older demographic wants to be in control and independent meaning that the right contextual and social support influence their decision making (Golant,2017). Physical attributes