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Tuesday, September 19, 2023

Baby Boomers’ Care Crisis

Aloha Everyone,

More than 40% of the Baby Boomers can be categorized as “sandwich generation.” The number of our generation equal 25% of Americans. Many of them are either physically, financially and often emotionally taking care of their parents, grandparents, children and even grandchildren.  

When the two of us retired, gave up our home and moved from Hawaii to South Dakota, so many of our friends and clients asked us, ‘Why?” Now some of them are saying that they too should have made such drastic changes. With cost of living continuing to skyrocket, many are holding two or three jobs to stay afloat. Cost of basics necessities such as food, shelter, electricity and gas keep going up.

Prior to our retirement, we consulted our children who prepared actuarial tables for us based on our health history and financial resources. Recently our two sons reiterated their position and willingness to take care of us when we no longer have funds to take care of ourselves. When I mentioned this to J.J., he was miffed. The updated actuarial shows sufficient funds for 25 years, provided we don’t need assisted care.  

More incentives for the two of us to continue our daily walking and maintain our healthy life styles.

Aloha -- Cathi