Boomers worry, who will take care of me when I grow old

Many seniors already face long-term care without the funds or family to support them

Carol Forsloff - Tomorrow’s elderly will need to create non-traditional support networks or pay for the care they receive, since many of these folk didn't have children and lack resources for their old age.  What will happen in the future
for them?

The problem is not just one facing the United States, but in other countries of the world where the life patterns of baby boomers have been similar.

Baby boomers don't have children or the family circle
that traditionally cares for its elderly people who become frail and
dependent.  This means that 70 percent care that ordinarily is provided
by families won't be there for them.  Besides that life expectancy has
changed, and they can expect to live for a number of years in old age,
perhaps lacking critical resources during that time.

The conclusion reached by Jacques Légaré,
professor at the Université de Montréal, who studies aging baby-boomers,
is these people are going to have to make special plans and networks to
assist them in order to compensate for the fact they won't have family
care.

"Tomorrow’s elderly — today’s boomers — had far
fewer children. Who will take care of them?" the professor wonders.
"They risk finding themselves in difficult circumstances and might have
to turn to the public system or pay their way."

According to Mr. Légaré, baby boomers are going to have to turn to
non-traditional networks such as friends, siblings and even cousins, and
new programs will have to be created to help this group manage care.

Indeed it was pointed out in a financial news article in 2013 that one of the principal things baby boomers worry about is having enough money to meet medical costs as they age.

Also it has been found that two-thirds of those either in retirement or nearing retirement are worried about long-term care when they grow old and need special help.

The public is also going to have to change in order to accommodate the
needs of this sizable number of seniors who will require care by the
public if other care is not available.

"Boomers have done nothing like the others," Mr. Légaré points out. "They stand out from the other cohorts, and we believe they will do so again."