How do you feel about your future?

by -NewSeniors Editorial, January 26. 2011

New Seniors tend to be an optimistic lot. Born during the Great Depression or WWII, we didn’t have everything we wanted but learned from those who went before us that there was an American dream and through hard work and perseverance, we could attain it. Recent studies show that the aging Baby Boomers don’t share the same faith in the future that there older brothers and sisters do.

According to the Pew Research Center, the boomers are more pessimistic than other age groups about their individual lives and the direction in which the country is headed. Some 80% state they are dissatisfied with the way things are going. This finding is significant when compared to 60% dissatisfaction for those less than 29 years of age and 69% for those ages 30 to 45. This number increases to 76% for those 65+, which may be due to the financial and health care issues facing the nation during the past several years.

More than one in five boomers say their standard of living is lower than their parents’ at this stage of life, but just 14% of non-boomer adults feel this way. The survey also found that over a third of boomers believe their own children will not enjoy a standard of living as good as they have it, while only one in four non-boomers concurred.

As the first of the boomers start turning 65 this year, they are gloomy about entering this next phase of life. Boomers are fighting this transition rather than embracing and enjoying it. One indication of their unexpressed fear of aging and the accompanying denial is that about half of all American adults say they feel younger than their actual age, but over 60% of boomers make say this. Boomers claim to feel about ten years younger than their chronological age and believe that old age doesn’t begin until 72 or older.

Some of the concerns of the boomers turning 65 may be attributed to the ease in which they got the material things in life. Unlike the Greatest Generation and the Pre-boomers, the Boomers did not have to sacrifice as much. They benefited from the post-war boom from the moment they were born. And, this prosperity continued throughout most of their lives. However, there are many from the “me generation” that did not plan nor save for the uncertainties ahead.

Boomers will work until later to retire, but this can’t continue indefinitely. Pensions and whatever retirement savings they have are considered by many to be inadequate. And the viability of Social Security and Medicare is worrisome. So those soon to become New Seniors have plenty of questions. That’s were we who have reached the 65 year milestone can be helpful.

This is a time when current New Seniors can make a difference by offering a helping hand to those about to join us. There’s plenty of room on board and the trip will be more enjoyable if we do it together. It won’t take much effort on our part, just a willingness to share what we learned about life after 65.

New Seniors