Baby Boomer: The Reality of ‘Now’
The baby boomer generation will be the first generation of retirees who will enter into retirement while their parents are still living. That is a reality because Americans are living longer. This means that in addition to baby boomers planning their own retirement future, they must also help and sometimes manage their aging parents’ retirement too. There are many questions that come to mind, but the main question about retirement is – “Will I have enough money?”
Many times family members neglect to communicate those things that will help to lighten the load on one family member or a few. Being a caretaker whether directly or indirectly is a challenge and that challenge can be exacerbated by the fact that aging parent also need care and attention. But that challenge can be made easier by building a strong support system of family, friends and the many resources now available to seniors living in retirement.
As a baby boomer, it is a good idea to begin looking into resources and options for your parents as well as yourself before it becomes a must. Taking the initiate to be proactive will save you a lot of time, money and stress.
If you are a baby boomer living in a community where the reality of taking care of a parent is imminent, it might be wise to start or join a community focus group that will look into the best options possible for your situation – where to live, how to live, how to manage the unexpected and how to enjoy retirement in difficult situations.
Having support is one of the strongest links to riding out a storm.