Baby Boomer Issues

These Baby Boomer issues are top concerns for the generation. They are covered in more detail elsewhere in this site.

Health and health care access is a top issue for Boomers. Health protection is wealth protection. Protecting our health and the health of our families is vital. Good health allows us to enjoy life and to continue leading active, productive and independent lives.

Financial security and retirement is a critical Baby Boomer issue. A lack of financial security creates a life of stress and want. Having adequate finances from several sources is the ideal.

The traditional three legged stool of retirement has been Social Security, a company pension, and savings. Some Baby Boomers have these assets, however many do not.

Aging is an inevitable fact we all face. Advances in medicine and personal health care have delayed the effects of aging for most of us. Fifty is the new thirty, as US life expectancies have risen by about 30 years during the past century. The group will inevitably confront aging as their terminal issue. In the meantime Boomers are spending a lot of time and money on anti-aging treatments, medicines, supplements, potions and lotions of all kinds.

Family matters are major Baby Boomer issues. The family dynamics of raising children and caring for elderly parents often severely strain the Baby Boomers. The group is dubbed the "sandwich generation" for this reason. Family demands can present a big challenge to Baby Boomers in managing both their time and money.

Baby Boomer households account for 48% of all US families, and 52% of 3 person households are headed by Baby Boomers. Baby Boomers lead 64% of family households containing 4 or more members!

Boomers who head up households are generally a very responsible group and they worry about providing for their families before and after their death. Legacy issues include providing for a surviving spouse, their personal legacy with other family members, leaving a healthy and well-balanced family structure and providing at least some financial security for their family, if possible. Sound estate planning, a valid will containing final instructions and life insurance are components of a solid legacy plan.

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