I am a Baby Boomer. Born in 1959, I am at the end of that large generational cohort that began in 1946.
Retirement is approaching. Four little grandchildren have already captured my heart.
I am blessed to be able to watch my mom every day and how she has navigated her older years. At the age of 94, she continues to travel and live on her own. She frequently text-messages her grandchildren and great-grandchildren. She is an integral part of their lives. Her upbeat attitude is an inspiration to all of us.
We are a generation that has acquired great wealth collectively. Rising home values and stock markets have helped.
Low educational costs also contributed. But there is great disparity, and 25% of Boomers have essentially no retirement savings. Over 50% have insufficient savings. Social Security is unstable and will likely decrease relative to inflation.
The size of our Boomer generation is huge. Almost 20% of Americans are represented. We are now looking at retirement communities, medical care, and leisure in new ways.
The Baltimore metropolitan area has great health care. Health care options in some of the retirement destinations like Florida and Arizona simply don’t have the same standard of care. Johns Hopkins leads the world in health care capability and excellence.
Housing options are also abundant in our region. Retirement communities and assisted living facilities are an option for those who want to downsize or reduce maintenance responsibilities. They can be expensive. Home care costs can be very high.
Travel is a great joy. Fran and I are now free to travel and will be in Israel, The Netherlands and France in 2026. There is a wonderful website — wendyperrin.com — run by a former editor at Condé Nast Traveler for those who love travel.
We also must commend the work being done by The Associated: Jewish Federation of Baltimore to serve the needs of seniors in our community. Their AgeWell program helps to coordinate care, provide housing and nutrition, and prevent elder abuse.
Hopefully, this “Aging Gratefully” issue of Jmore will be an enlightening and informative resource for you and your family. I wish all of you a wonderful Chanukah and New Year.
Scott Rifkin, MD
Publisher
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