Most of us who are Baby Boomers are all too aware of the major challenges facing our generation. (Some Boomers are insulated from these challenges, particularly among the socio-economic elites — but that’s always been true for most of the challenges facing humanity, and the elites constitute a small percentage of Boomers anyway, so we can ignore them.)
I’d like to look at three areas where we face major challenges: finances, jobs, and spiritual matters.
Financial challenges first. Back in the 1970s and 1980s, as part of the wave of economic conservatism that swept the United States, employer-managed pensions disappeared and were replaced with 401(k) plans. The Boomer generation, particularly the tail-end Boomers like me, are the ones who are the guinea pigs for this radical experiment in economics. And the experiment, to be quite frank, is going badly.
Younger generations, you will want to pay attention to what happens to the Boomers, because you’re stuck in the same flawed retirement system.
I’ve been reading Fifty-Five, Unemployed, and Faking Normal: Your Guide to a Better
Retirement Life, a 2016 book by Elizabeth White that describes in some detail how badly off the Boomer generation is. Continue reading “Boomer challenges”