---

 

BOOMERS' BIG RETIREMENT PROBLEM

 

---

 

The recent Newsweek e-magazine article Boomers Have a New Retirement Problem tells us that both the "Boomers" and younger generations have a big problem: the "Baby Boomers" – post-WW2 people born from 1946 through 1964 – have lived through a peak in the U.S. economy and many have bought big houses with 3 or 4 bedrooms, a 2-car garage, nice landscaping, etc. Their home equity has increased tremendously, often over half a million dollars. But now they're "empty nesters" – their children are grown up, have children of their own, and maybe even grandkids. So what's the problem?

As the above article states, "But now, thanks to ... unfavorable conditions in the U.S. housing market, boomers face a new retirement problem: affordable and accessible homes in which to age. As a result, boomers are now 'aging in place' in their current homes – a trend likely to induce a knock-on effect for younger generations." What are these "unfavorable conditions" and the "knock-on effect"?

First, property taxes: as the (inflation-induced) dollar value of their homes has increased, so have their property taxes. And these Boomers are living on fixed incomes – a retired couple's median income is around $65,000, so property taxes and likely remaining mortgage payments can take a huge chunk of that.

The second problem is that many are 'aging in place' – two people rattling around using only a fraction of the living space, having to care for the lawn, the maintenance, etc. – simply because there isn't enough accessible housing on the market today.

Third, the younger generation is facing a "knock-on effect" because the Boomers often can't sell their houses due to a lack of accessible housing for the elderly, creating a shortage of available houses for younger families, which drives up prices along with higher interest rates and higher property taxes. What must be done about this catch-22 dilemma?

We've been carefully developing plans for accessible housing, both for retirees who often have mobility issues, and for young families who should be investing in their own homes instead of paying rent but can't afford to buy one. Also, there are many families with a child or adult who has a mobility issue and needs accessible housing. It's very expensive or flat-out impossible to retrofit an existing house with a ramp to all floors or an elevator: this is something that should be incorporated into the design of homes when they're first being built.

The cost for a ramp and/or an elevator can be shared among all families who live in a multiple-living-unit building, as well as sharing the cost for land, parking, outside walls, plumbing, roof, and maintenance. There should be a combination of one-bedroom, two-bedroom, and three-bedroom living units in order to accomodate singles, young married couples, larger families, and retired people. And most of all, they should have a common space for community gatherings including worship. Our 12-to-14-living-unit "ARC" (Agape Restoration Community) plans have been designed to meet all these requirements at a very reasonable cost.

It's also very important to include able-bodied people of all age groups in these ARCs to check in with those residents who might need help. The fast-growing number of Boomers is about to overwhelm the government-provided services such as Social Security, Medicare, and Medicaid, which are strained to the limits right now and are projected to be insolvent in just a few years.

You may feel when you're a young adult that it's too far in the future to begin thinking about such matters: it's hard enough getting started in adult life, so here's an idea that will give you a jumpstart: see "The Magic of Compound Interest." Don't rent! Start out small by buying a one-bedroom home in an ARC, or a "fixer-upper" or pre-fab two-bedroom home for $30,000 (yes, they're available!). Pay it off in six years and move up, do it again, and semi-retire when you're 40!

And when you're an older adult, you need to begin right away thinking about what happens as you age. The "young old" who are "empty-nesters" in their 50s and 60s can become trained in home healthcare through our one-year online "Social Ministry of the Church" program. It takes just a couple of hours per week to prepare for this oncoming "grey tsunami." And you need to get into accessible housing before your 70s: most older people will experience a few years of disability before they pass away. My wife and I moved into a second-floor condo when I was 70, but climbing 14 steps became too much for us, so when I was 80 we moved into a first-floor condo with no stairs, not even one step up into the building. I definitely do not recommend moving like this when you're 80! It took a big toll on our health. You can likely help care for others in your 50s and 60s, but later you probably won't be able to, so get prepared!

These three stages of adult life can all be combined in our ARC plans, where we can all live together in a Christian community and build each other up in the faith and physical well-being. To get our *free* series of 24 articles that explain the "why" and "how" of this whole process, please subscribe here: www.Agape-Restoration-Society.org/ARC/ – thanks in advance!

Get this article on our ARC-News blog at blogspot.com... and share it!

 

---

 

A Personal Note: My wonderful wife Cheryl is now recovering from spinal fusion surgery. It was successful, but she had high blood pressure and upset stomach from all the medications afterwards, so it's taken a few days to begin feeling somewhat normal. The day after surgery, they've begun taking her for walks (with a back brace on) in the hospital halls. Please pray for a speedy and full recovery. Thanks in advance!

 

---

  NEXT, THE NEWS:

---

 

WE NEED YOUR HELP! Perhaps you've read this before and are wondering, "Why am I seeing this again?" But millions of other Christians haven't seen it! So please use the "share" buttons above to share it with your social media friends. Thanks!!

A New Approach to Home Health Care

Dear friend,

What is Home-Based Primary Care (HBPC)? "HBPC programs provide appropriate care (primary, urgent, or palliative) to high-risk, medically vulnerable patients, often suffering multiple chronic conditions, when and where they need it. This patient-centric, continuous care model delivers clinical, economic, and human benefits such as:
  * facilitating timely interventions when chronic conditions worsen and preempting avoidable emergency department visits and hospitalizations
  * alleviating social stressors that contribute to poor health
  * comforting patients by giving them loving care and letting them know they’re not alone."

Some states, recognizing that home health care is far less expensive than nursing home care, are starting to supplement family caregivers: States take the lead on addressing family caregiver needs. "As baby boomers grow into old age, there is a growing demand for caregivers — both paid and unpaid. While legislators have largely overlooked the looming shortage, some states are stepping into the void with innovative solutions.

"In Hawaii, family caregivers who work outside the home can get up to $70 per day from the state to apply toward adult day services. Washington has a tool to assess the needs of family caregivers and refer them to the most useful resources, and in Minnesota, the 'Live Well at Home' program gives grants to local organizations to test ways to support older adults and caregivers."

Check out AARP's Family Caregiving How-To Video Series: "Special Diets", "Managing Incontinence", "Wound Care", "Mobility", and "Managing Medications" with lots of instructional materials; also get their 63-page PDF Home Alone Revisited - Family Caregivers Providing Complex Care. And don't forget Medicare's "Home Health Care" and the more than 5,000 independently-run local "Meals on Wheels" programs – these can go a long way toward keeping you at home – that is, if your home is suitable for this when you need it to be.

"20 million family caregivers say they perform medical/nursing tasks. These include handling prescriptions, helping someone climb the stairs with a cane, and caring for and cleaning wounds. Family caregivers often do these tasks with no training or help from health care professionals." This is why we offer our online Social Ministries of the Church program.

An example of Supporting older adults and their caregivers in the community is Wellmed Charitable Foundation's activity centers for seniors in Texas and Florida. This will give you an idea of what might be available in your state too! Also see their page on Caregiver Support for emergency call-in help, caregiver coaching, caregiver teleconferences, a stress-busting program and more.

Just one of the many Home Health Care organizations is Home Instead Senior Care with branches all over the U.S. They also offer free monthly newsletters with tips and advice for caregivers of elderly loved ones. You can also do an Internet search for "home health care organizations in XX" (XX = your state) to find out what's available locally, or go to Home Care Association of America and click on the "Find a Provider" link.

The John A. Hartford Foundation "is dedicated to improving the care of older adults" including Age-Friendly Health Systems - "an initiative of The John A. Hartford Foundation and the Institute for Healthcare Improvement in partnership with the American Hospital Association and the Catholic Health Association of the United States." They sponsor a multitude of programs all over the U.S. to advance health care for people in the "baby boom" generation who are... [read more...]

 

---