As 80 million baby boomers start to shift into retirement and a smaller share of the population will be working, the generation is redefining retirement and the traditional notion of a senior citizen. However, aging policies have remained relatively unchanged.
As a new generation ages, how does the country modernize its aging policies? What's new, old or different when we talk about so-called "senior citizen issues?"
We wanted to talk more about this topic after reading "Gray Nation" in The Atlantic:
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"In the late 1990s, a remarkable 67% of the country (16 and over) was working or seeking work. That number has fallen steadily in the last decade for two reasons. First, there's the Great Recession, which pushed people out of the labor force. But as you can see in the graph below, demographers were already expected labor participation to decline due to demographics. As 80 million Boomers move into retirement, a smaller share of our population will be working ... and a rising share will be seeking increasingly expensive medical attention from the workforce that is left over. That adds up to a less dynamic economy."
Cheryl Matheis, senior vice president for policy strategy at AARP, will join The Daily Circuit Wednesday to discuss new aging policies. Jim Firman, National Council on Aging president and CEO, will also join the discussion.
We haven't done much to prepare for the "gray tsunami." We're already seeing it in our transportation, housing and healthcare systems.