It was so exciting when the troops came back after World War II that you could practically hear the babies being conceived for at least two years! And now, that amazing generation is around sixty years old.
What's the big deal? So they are sixty. So what? Well, traditionally, people "retired" from hard labor jobs in their sixties. They stopped working the hard job, and rested, traveled, puttered around the house until they died. Which was not far off for folks only thirty years ago.
With the advancement of science, medical technology, and a pile of other factors, humans are living longer. So while you could retire at 60 and probably live to 70/75, now people are living until 90, 95, 100+. This is amazing! This is wonderful! And it also brings up the answer to the "what's the big deal?" question.
If you're a boomer, there is high probability you're going to live longer.
Do you have enough money to keep you in the manner to which you've been accustomed?
Are you going to keep working? Do you want to keep working?
What kind of health care do you need now as you age? what will you need later?
Who is going to take care of you as you get older? Your kids? Your family? Friends?
Where are you going to live? Stay in the big house? Downsize? Live with the kids? Do they know that?
If you're a boomer's kid, in general your parents are going to live longer.
Society in the past has seen families live close together. Now, our society and culture has changed so that families are spread to the four corners of the country and earth. What expectations do you have for taking care of your parents? Do they expect you to take care of them? Will you stop what you're doing to take care of them?
Have they been supporting you physically? Financially? Do you expect that to continue?
If something happens to them, how will you know what to do to help them?
Are you going to be the one to help them?
What happens to them if they can't live alone anymore? Where will they live?
Who is going to pay for it all? You? Them? The government?
Boomers and boomer's children must have a very blunt and open conversation about aging and what expectations are for support as both groups age. Start by asking and answering the above questions. And if you're not sure what other questions you need to ask, use a tool like a Financial Documents Binder to provoke questions and answers. Find a financial advisor, an accountant, an insurance agent or another professional to talk with you about what is available and what you need to care for yourself and loved ones as you age.
Having the conversation is the starting point to ensuring you get exactly what you want as you get older. And if you don't know what you want, now is the time to figure it out while you still can.
Jessica D Chapman, is a small businesses customer service expert. She has been supporting business owners for over 10 years to improve systems and service at http://www.FinancialDocumentsBinder.com
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