No Generation Is Prepared to Retire
Baby boomers, late Boomers and Generation X are all at risk for falling into poverty as they age. No generation is ready to face the escalating costs of healthcare and housing. The articles below explain the challenges faced by each generation as we prepare for retirement.
Generation X: “The more than 65 million Americans in Generation X — ages 43 to 58 — have the largest wealth gap of any generation, according to new research. A recent study from the National Institute on Retirement Security (NIRS) echoed the grim findings, determining that the typical Gen X household has even less — a mere $40,000 — set aside for retirement.”
Late Boomers: “Why was the downturn more damaging for late boomers? It's a matter of life stages. Typically, Americans reach their peak earning years in their 40s and early 50s. But for those at the younger end of the baby boom, those were exactly the years when the economy was in crisis — in 2007 to 2009, late boomers were somewhere between 42 and 49 years old.”
Boomers. “Now, the over-50 demographic represents half of the homeless single adults in the U.S. — with no sign of their numbers slowing, leaving baby boomers (those aged 57 to 75) particularly vulnerable.”
Will the robots care for us?
Age tech is attracting investment and technology advances such as medication reminders and home safety apps are helping to keep seniors healthy and living safely at home. But is the future of caregiving going to be a robot? Two robots in a nursing home in Ohio have already traveled more than 163 miles and have made over 2,220 deliveries to residents. Read more.