ADVICE FOR BABY BOOMER-WOMEN

Sep 4th, 2011 | By Sharon Shaw Elrod MSW EdD | Category: For Senior Women

For Female Baby Boomers

The Baby Boomer age is defined as those born from 1946 to 1964.  Although the information in this article applies to any adult woman, those in the Baby Boomer range need to pay close attention.

A symposium, sponsored by Volunteers of America, was held in May in Washington DC in which its CEO, Mike King, said by   2030 the United States will have the largest senior population in its history, but that institutions, public policy — and individuals themselves — are “frighteningly unprepared” for this reality.   Baby Boomer women need to plan for an independent life in retirement very carefully.  Four areas of concern need to be given particular attention:

Four Areas of Concern

  • Health: Baby Boomer women have a tendency to take good care of family and friends, and neglect their own health in the process.  Good physical and emotional health will carry forward into our senior years, if we know how to take care of ourselves in our younger years.  Health issues, if addressed early, are much easier to handle later.
  • Save for Retirement: Financial planning for retirement should begin on your first day of work. Money isn’t everything and should not be an all-consuming concern.  Rather, insuring adequate income in your senior years creates a life of contentment and satisfaction.  Planning for your financial future should be based on this premise.
  • Housing Options: Independent living in retirement is based on knowing where and how you might want to liveUniversal design is a new concept that deserves the attention of all senior citizens, and those planning for retirement.  Maintaining an adequate support system helps insure independent living in your senior years, and keeps you in your home longer.
  • Legal Documents: Prepare your will, advance directives, Trust (if it applies to your financial position), funeral/memorial plans, durable power of attorney, final statements to family and friends, and a list of where documents can be found that you give to trusted family or friends.  Remember, you plan for your death for your family and close friends, not for yourself.

SCJ encourages readers to share this article with women who need to be nudged to plan appropriately for their senior years.  You cannot get started too early.



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