Wednesday, June 1, 2011

Is the current generation ready to center their careers around caring for the baby boomers?

1945-1964 are the years the baby boomers were born. So many were born that bigger schools had to be built, and there was a very high demand for college students to become teachers. It's now 46 years since the first baby boomers graduated high school, and they start turning 65 next year. Retiring on fixed incomes, having medical needs, dental needs, nursing home needs, physical therapy needs, there is a high demand for Doctors, Pharmacists, Nurses, Therapists, and within 15-20 years Funeral Directors. Cemeterys will become a thing of the past. There just isn't enough acerage. Crematories will prevail. There are 78 million baby boomers!!! that's six zeroes: 78,000,000. Choose your career carefully, and invest your retirement funds with baby boomers current status in mind.
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I was born 1965... I know..... what's is your question again? The baby boomers are retiring and have no money to retire with. Maybe the 1945 to 1955 generation. The ones coming after that no longer got the generous pensions and social security. Since I am trailing right behind them I can tell you what the 1955 to 1964 baby boomers are facing: NO MONEY to retire on. Their 401K's lost so much money if they even survived the many job changes and temptations to liquidate. Do you have any idea what these 78 million baby boomers will do to the tax load? God help us... because Medicare right now covers 40 million americans.... where do you think the money will come from to give free medical services to 78 million more? At no extra cost at a time in ones life when you will need a Doctor the most, when the average American at age 65 is used to take 7 or more different prescription drugs for who knows what and is most likely to require some seriously expensive treatments, etc? How do you pay for it? The next generation isn't large enough to pay for them and you know it. The retirement age will go up again and pretty soon you will be working until you are in you 70's... but only one problem.: The employers are not playing along anymore they will replace the old with the young irregardless of where the official retirement age is set. We will see the elderly homeless and destitute long before they can get a penny from social security. Yeah... get a job in health care .... if you can handle the misery you will encounter on a daily basis.
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