Impacts of Aging Boomers
- Many boomers preparing for retirement
- Echo kids will be needed to fill vacancies in workforce
- 2020 – most boomers will be retired
- Dependency load – measure of the portion of the national population that is dependent (not employed). High dependency loads are difficult for working population.
- Dependency ratio was highest during height of baby boom (more workers than dependants). Is low now.
- Greater life expectancy of seniors means higher dependency ratio, so aging boomers means higher dependency load
- Many boomers have been contributing to pensions funds – they are prepared for retirement
- 1/5 of Canadians are in poverty: large amount are boomers which means they will have a very difficult time with aging
- Emphasis on healthy lifestyles – many boomers are in good health
- Many boomers may work in service sector after retirement – contribute to national economy
- Many boomers will be able to support themselves with retirement savings plans and inheritances
- Boomers enjoy travel – travel will increase
Impact of Caregivers / Household / Healthcare
- Population expected to grow to 37 million by 2016 – half will be over 40, 16% over 74
- Informal support – unpaid help given by friends & family
- Formal support – help given by doctors, nurses, social workers
- Adult children provide much of the support needed for elderly
- Women shown to provide more elderly care than men (who provide more domestic support)
- Developmental stake – older people may deemphasize the amount of support the receive – don’t want to see themselves as a burden on children
- Caregiver burden – stress due to care giving for elderly of disabled
- Housing arrangements will become much more important as boomers approach elder years
- Increase in elderly women who live alone
- Granny flats – portable modular cottage placed on son’s or daughter’s property – might become popular
- More pressure will be put on the Canadian healthcare system as population ages.
- Increased healthcare costs
- Elderly consumed more pharmaceuticals, use hospitals for longer, and require more special care and services
- Some claim that it is time for
- Canadian healthcare separated into three parts, medical model (treatment), social model (personal and family counseling, home care, and daycare – part of health care system), and health promotion model (prevention of disease through lifestyle change).
- Wellness clinics – places that focus on maintaining healthy lifestyle
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