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May 2004 Trends Magazine — www.trends-magazine.com |
Many experts have been forecasting generational warfare to break out as the Boomers, Xers, and Millennials fight over a limited economic pie. While extrapolating past patterns into the future lends some credence to these fears, this line of reasoning is too simplistic. It ignores the transformational power of human ingenuity and technology. If we're afraid to take bold steps to reform programs like Social Security, Medicare, and retirement itself, the pessimists could still be right, but many factors are converging to provide effective ways to resolve these problems before they reach critical mass. We'll give you a realistic view of how this trend is likely to play out. |
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Boomers in their 50s and 60s increasingly find they share their homes with parents in their 80s or 90s, as well as children in their 20s and 30s. At the same time, they face a future in which they are likely to become "elder orphans," or senior citizens whose children are less likely to care for them. We'll examine the array of elder-care options, including those enabled by new and existing technologies. |
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Within a decade, we'll see a shortage of workers for skilled positions in the U.S. In an era when cumulative knowledge is doubling every seven years, it's not enough that older people want to work; they have to be given the current skills and knowledge to make them effective. That's where retraining comes in. Retraining has become a hot political issue, but look beyond the rhetoric: Does it really work? Will e-learning and corporate universities help business maintain a competitive workforce? Will older workers be the answer? We'll give you the answers. |
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Those who retire from their first careers aren't just sitting on the beach. Increasingly they start second careers — positions that bring tremendous "psychic income," rather than just monetary rewards. They look for gratification as teachers, mentors and thinkers. We'll tell you what this trend can mean for your business. |
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For the past two decades, the Trends editors have explained that traditional concepts of retirement are about to vanish. Now, we are seeing the social and cultural changes that indicate mandatory retirement will soon be a thing of the past. We'll tell you how to capitalize on the coming transformation. |
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As the recent report from the Medicare trustees highlights, the program will become insolvent within a matter of years if we keep using the same approach. However, the urgency of that impending collapse gives us a reason to reform the healthcare system by taking advantage of new technologies and social mechanisms. Let's examine the underlying trends in demographics and healthcare that are going to make this possible. |
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Just as the Baby Boomers transformed schools, music, colleges, jobs, and housing, this enormous and hard-to-please group of consumers is now driving the creation of a whole new universe of products and services aimed at older people. Those companies that aren't already looking at these opportunities and threats are behind the curve. |
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