Last week I spoke about some companies trying to retire or let go of employees that are 50+ years old and replace with younger, fresh out of college ones. I did not mean to sound hasty, and if I did I apologize, I intended to explain the balancing act to not be so fast at dismissing an older employee and quickly replace them with someone else younger. Having life experiences are precious and helps solve problems in the work environment.
Being fresh out of college is precious, and will also help solve problems in the work place. Both sides have to come together. The fresh out of college and the senior employee have to come together and solve the problems. We (myself included) have to learn how to cross this bridge and met in the middle.
On the one side, we have people thinking that after 50 years old, you should be put to pasture. I see employers think that it is cheaper to hire younger employees. It’s not. It’s very difficult to connect with younger employees; their interests, emotions, and financial resources are limited and restricted compared to older adults. As a veteran in life, my counter partners and I have a better understanding of our emotions and surroundings; we are better prepared.
And the second point is we spent millions every year. Americans 50 and older are fueling America’s economic engine. The financial muscle of people over 50 is growing. Spoiler alert: it’s time to pay attention to that fact.
A “senior” American spent $0.33 of a dollar in 2018, and by 2030, we will spend $0.66 of a dollar; not to mention jobs we hold.
Last week I talked about keeping yourself busy. It was a glimpse of myself. Like many other women, I juggle many different hats. However, I want to express that since I turned 50, I heard my boss’s friends tell her that from now on, she needs to pay attention to my aging.
I will start easy, and won’t go down the age discrimination issue. I will stick with the Alzheimer’s issue.
Alzheimer’s isn’t an old age issue; it’s an issue period. Alzheimer’s is growing and maybe undiagnosed from some patients, which is why I stress and urge all of you people to listen to my experience.
Another note of my personal observations is it won’t be a surprise for me, if the so-called generation X will be the most ones with mental health issues, in my opinion, there isn’t much learning and more repetition.
Make’s me wonder that those on any age who copy these new generations may be signing up for an unwanted diagnose of Alzheimer’s, and that is a big concern. You can’t reverse Alzheimer’s damage.
I have approached this subject before saying that it will always be cheaper to keep and assist your aging parent yourself. There is no mortgage to pay, more often the only expenses are electrical and water bills.
Other expenses are unexpected health-related expenses. Often times the caregiver recipient (patients and or clients) pay out of pocket at around 78% for a caregiver. On average that amount is around $7,000.00 per year. If you live an hour or more from work your amount increases to $12,000.00 per year. On average 25% of their retirement savings and loss from investments.
23% of people take on more debt, which is difficult since you are closing in on retirement. 32% of caregivers have left a job because of the overwhelming demands of caregiving. Another point to be made; caregivers spend about 80 minutes less per day on paid work, besides that, you pay less attention to your own health. One example is you get 23 minutes less sleep per night.
The title above is an article from the AARP bulletin from September/2019.
It’s long known that when any person has a meaningful life, they live and age well. As we age and some of us are transferred to a nursing facility, we see signs of age; becoming debilitated, motionless, and elderly seniors.
Anyone who has a senior loved one should invest their efforts to help and fight to keep their seniors at home and active. I am not talking about family and friends only; I am talking about volunteering, go out with a mission to help those who need it.
Retirement from work does not mean you should give up your life; keep yourself active, exercising, volunteering, and be involved in your community.
Everyone who plans to live longer is taking the risk of needing long term care. Usually, the thought is if you are old, that’s the cue to need any type of care, especially long term care. The case is not quite like anyone who may need daily help like cooking, bathing, and dressing is likely to need a companion or a home health care aide.
There is the same confusion about nursing homes and assisted-living, and there is the cost, how much will it cost me to transfer my parents to a facility? Would it be less expensive to keep them home and hire someone else to check on them and actually assist with whatever needs to be done?
I think I have learned over the years that it is cheaper to keep your loved ones at home when you know how to delegate and manage the time spent with your family members. If you are the type that does not know how to delegate and you keeping hovering around to micromanage the aide, you are losing money.
Back to long term care is some who has diabetes and or any other chronic disability. It is costly when their illness is left for an emergency or last-minute decisions.
The best course of the action is educated yourself on what are your options, whenever possible, attend workshops to learn what cost is out of pocket or what insurance pays.