Life Of Retirement And A Healthy Social Status

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?

In general, countries experiencing high fertility and rapid population growth, have a “young” population structure and the important policy considerations are if there are enough schools and, sufficient jobs and housing to accommodate this population. Countries with “old” population structures face the problems of structuring and developing retirement and health systems to serve this older population and also they have a considerable reduction the number of the working force. The decline of the work force is one of the most dramatic economic tendencies of the past four decades in the United States. The individual’s decision of whether to stay in the workforce or to retire is based on the collaboration of a number of factors including the following: eligibility for Social Security benefits, availability of and benefits under an employer-financed pension plan, work

After World War II, birth rates increased enormously over the whole world. During the baby boom, around 77 million babies were born in the U.S. More people in the country created more consumer demand, which made a big increase in manufacturing and production. The average income among people increased and made the demand greater. The baby boomers made a long-lasting economic growth that raised the standard of living in The United States and the world. The first baby boomers became eligible to retire in 2012 and will be different retirement compared to their parents the greatest generation. The retirement is different in ways like longer retirement, higher expectations, exotic investment options, deregulation, rising instead of declining interest rates, and personal saving instead of pensions.

Today, the certainty of receiving sufficient benefits solely from Social Security for a quality standard of living after retirement is indefinite. Baby boomers—individuals born post World War II between 1946 and 1964—are beginning to claim their benefits, and given what I have learned in class, the number of individuals entering the workforce is inadequate to sustain such a large population, thus such generation will consume

In today’s society, the work industry is comprised of numerous generations from baby boomers to millennia’s. Due to reasons ranging from increased cost of living to political policies, Americans are being forced to work longer in order to obtain the social security benefits they’ve contributed to during their careers. Each generation has certain generational influences such as war times and civil rights for the baby boomers and social media and the technology boom for the millennia’s. One constant that has not changed, however, is that the average American has to work for a living, and with the evolution of the US economy, they are having to work longer and are retiring later.

Data from the Census Bureau tell us that in 2015, there are around 47.8 million Americans age 65 and older, up from about 25.5 million just 35 years ago; demographers predict that in another 35 years, there will be nearly 88 million Americans in this age group. The rate of growth of the “oldest old” population—those age 85 and older—is even more dramatic: Their numbers currently stand at approximately 6.3 million, but by 2050, that number will have almost tripled, to 18.7 million Americans. This population explosion is unprecedented in history, and the resulting demographic shift is causing profound social and economic changes.

For employees, the earning potential was reduced by the employers in order to adjust to the new workforce population. For consumers, the prices were increased because of the high demand for goods and services. This account was one of the changes that appeared in a newspaper article “Baby Boomers Are Still Reshaping U.S., but Now They're Middle-aged” written by Cheryl Russell which was published by Washington post in 1987. In his article, he says that “If there hadn’t been so many boomers entering the job market. Housing would be cheaper, the economy would do better in the 1970s and people would be making more money” (Russell 1987). In this quote, Russell provides his perspective on the changes that the boomer generation brought. He suggests that the boomer generation denied employers and the consumer the capabilities of earning more money on their jobs and the buying power consumers had before it was changed by the boomer

Now that we’ve looked at the spending issues, let’s see how the baby boomers have affected the workforce. When baby boomers began entering the workforce, they increased the size of the labor market. The job market has been greatly expanded with the coming of this generation, especially with the addition of women to the workforce. At times, the baby boomers faced relatively high levels of unemployment because they had to compete with one another for jobs. But eventually the jobs materialized. The average age of the workforce is steadily climbing. The first of the baby boomers will start to retire in large numbers after the year 2020.

In his article “Will America Grow Up Before It Grows Old?” P.G. Peterson writes about the challenges that U.S. population will be experiencing by 2050. (Peterson, 2015) P.G. Peterson argues that the proportion of the aging population to the younger population will impact the allocation of the scarce resources. (Peterson, 2015) I agree with P.G. Peterson that the young and old will be forced to compete for the resources.

As this population called the baby boomers age, will affect us economical because we have to provide more nursing homes and have to have more people to take care of them. Another economically change comes from them retiring and organization having to find people to fill their positions. This create more jobs in the market.

On October 24, 1929, the stock market crashed, thus initiating the Great Depression. When the Great Depression began, the United States was the only industrialized country in the world without some form of unemployment insurance or security (“The Great Depression,” 2009). As a result, there was a downturn in spending and investment which led factories and other businesses to slow down production and construction, as well as fire their workers (“The Great Depression,” 2009). During this time period, fewer than 10 percent of workers had any type of private pension plan through work which meant that most individuals had no reliable cash-generating form of retirement security

Today, the certainty of receiving sufficient benefits solely from Social Security for a quality standard of living after retirement is indefinite. Baby boomers—individuals born post World War II between 1946 and 1964—are beginning to claim their benefits, and given what I have learned in class, the number of individuals entering the workforce is inadequate to sustain such a large population, thus such generation will consume

Population pyramid is a visual representation of a population and it’s distribution with relation to the young, old, female, and male individuals residing in a particular country or region. Each horizontal bar within the pyramid represents a 10-year birth group; in other words, each of the bars represents individuals born during that same 10-year period. By comparing these bars we can identify approximate proportion of each birth cohort and any population growth, decline or increase/decrease in the death rates. For example, baby boomers bulge is reflected in the 2000 population pyramid of the United States, and those that follow. However, as we take a look towards the bottom of the same pyramid we can see that the pyramid begins to reflect a “bean stuck” shape, which is indicative of decline in fertility, less people are having children (they are replacing selves, but are not increasing in number). As we look at the projected 2025 and 2050 population pyramids we can see that the pyramid takes on more of the “bean stuck” shape further supporting the fact that there is a decline in birthrates while at the same time reduction in death rates for the older cohorts. These findings are important for financial and health care perspectives because as “baby boomers” group is aging, they will require increased medical and financial support. According to the population pyramid there are more “baby boomers” than

From 1970 to the year 2000, the world's over-60 population is projected to increase by more than 90 percent" . This is an astonishing number, seeming how the total population was predicted to grow by less than 75 percent . "The most prominent feature of the looming shift in the composition of the working-age population is, of course, its increasing age" . It is hard to say what will happen when suddenly there will be an abundance of older people who are preparing to retire.

The trick to retirement is making the savings and investment part of that formula last as long as you do. “Traditionally, experts have advised you to invest your savings in stocks and bonds, with the ratio of stocks to bonds gradually decreasing as you get older. The rule of thumb was to have 65% of your investment dollars in bonds by your 65th birthday.” (aol.sageonline.com) This rule of thumb has changed recently in order to take into account the increase in life expectancy. Now that your retirement money has to last longer, the experts are beginning to lean toward investing more of your money in the stock market and keeping it there further into retirement than you normally would. The most important notion that retirees must learn is that the longer you can go without dipping into your principal, the longer your money will last for you due to the rule of compounding of interest. There are numerous different techniques for people to use in order to retire comfortably and remain comfortable until their deaths. Since deciding how much money you need for retirement is obviously a highly personal calculation, individuals must explore the many different instruments for retirement. So how should people invest today for the future and their retirement?