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Buckle up boomers. The economy you created won't spare you either. You will begin to see more and more nursing homes go under as the cost of care skyrockets and not enough younger people willing to get into medical care because of the low pay and brutal hours/working conditions. We already have an elderly care shortfall in some areas but it'll be unimaginable in 10 to 20 years as the youngest baby boomers are 59. About 70 million boomers are entering into late stages of life with no one to care for them due to money.
I just turned fifty. I'm expecting to receive a "reverse life mortgage" from Soylent Corporation before the end.
"Here's eight thousand bucks. Go have fun. Take a vacation. We get your corneas, liver and kidneys on the first of the month."
They won't have to pay you in our brave new Oligarchy. It will be mandated that all viable organs get donated to the investor class to help the economy. Those making over $500,000 a year excepted.
oh yeah, not just boomers - there's a few of the previous generation left still. my folks (boomers) have a 102 year old neighbor, she was put in a home 10 or 15 years ago, got tired of it after a few months and drove back to her house. she fell down last week, my dad found her on the floor after a day or two, she broke a bunch of bones but didnt want to go to the hospital because "that's where people go to die". maybe she'll make it out, she's a tough lady.
we'll see a hell of a population shrinkage here in a decade or two.
Yep. My 81-year-old mother is pre-Boomer. Thankfully, she's able to live on her own with a housemate. I really don't want to see her die in a nursing home like my dad. They're miserable places. There was no choice with him because he had dementia, but I hope she will be able to live whatever is left of her life in the house she loves.
My lovely wife works in the kitchen of a retirement home. She has watched things go down in the elderly care industry for several years now.
And you're not wrong, although I think your estimate of 10 years is too generous. Elderly people who don't have any assets like a home will naturally assume they can just stay with their kids. Except both of their adult children probably need to work. They don't have time or money to take care of Mom or Dad. They can't take them to appointments. They can't help with medication. They may not even have a space for them at home. And they certainly do not have $3,000 a month so they can put mom or dad in a nursing home.
I imagine there are many who would do their best. But then there ard those like my wife's parents, who were and still are abusive, terrible people who have burned every bridge they could, and are now having to cope with the idea that none of the family they gaslit for decades wants to help.