The co-owner of caregiving service Touching Hearts Senior Care, Gina Germany, recently sat down with FOX 10 to speculate about the financial future of the baby boomers, and explained why she's optimistic.
Germany says that she has helped older adults plan for their financial futures, encouraging them to be healthy and social well into their 90s, which has helped her understand the way that individuals set aside savings and use money in their golden years.
She explained to the news source that baby boomers often like to travel and experiment with different options as they grow older.
"Many will continue to generate income as eight out of ten told the U.S. Census Bureau they have no intention of retiring. They want to keep working on the job or in their own businesses… the 50+ crowd view this phase of their life as their time for personal growth through learning, self-discovery, or simply a time to reinvent oneself," she told the news provider.
Those who are planning to work beyond retirement may also be taking care of an older parent. Installing a senior alert system in a residence can help ease the burden placed upon the caregiver, as the older adult can use this medical alarm to immediately contact a family member or doctor in the case of an emergency.