Today, the planet’s population will reach 7 billion and according to one independent estimate about 1.6 billion are boomers. The newly released United Nations’ report, People and Possibilities in a World of 7 Billion looks at, among other things, security, economic strength and independence in old age. One question it poses is, with the Baby Boomer generation beginning to retire this year and no significant increase in the number of young people, where will the money come from to continue making life good?
Without really thinking about it too much, you would probably tend to agree that the situation will become very dire, indeed. But, will the future be as gloomy as today’s governments and the media like to make out? Even as we retire, most of the 1.6 million boomer population will continue to pay taxes. Some may argue that our post-retirement incomes will be lower than when we were working, but even so, that’s a lot of tax dollars, francs, or pound sterling…… In the developed nations, we are relatively healthy as a generation and more proactive, where our well-being is concerned. We will likely continue to work longer and therefore continue to spend more than any other generation. There is a relatively small population of under 45s, so won’t that translate into less funding needed for their education, healthcare, transportation, housing, etc?
We’d like to hear your views….will boomers pose challenges or possibilities in the years to come? What impact do you think our numbers will have on our post-boomer life?
Until next time,
Your Boomer Life Partners