As the age-denying Baby Boomer generation grows older, it may need your help to face reality. The growing gap between the Boomer and Echo-boom generations is highlighting the fact that Boomers’ reticence to deal with the challenges of aging is becoming a burden on younger generations.
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People across the globe are having fewer children. That means there will be fewer people to fill the jobs Boomers vacate as they retire. Global median age is expected to rise from 29 years old in 2010 to 39 by 2050.
Real life examples are already pointing to some of the demographic issues
. As more and more people live beyond age 100, their children begin to face their own aging issues. A 107-year-old may have children in their 80s who are unable to care for them because of their own care needs. The fact that most Americans only have about $25,000 in retirement savings doesn’t make the picture any brighter.
These predictions point to a demographic reality, yet they seem to ignore the fact that the Echo-boom generation is as large in number as the Boomer generation. Although these problems are real and need to be addressed in a timely, one of the biggest gaps seems to be that an industrious younger generation is on the rise and may add unexpected relief. Still, relief relative to the oldest Boomers may not be timely.