This is not your Grandfather's Retirement...
My grandfather served his country in WWII in the South Pacific, and at home in the Civilian Conservation Corps (he claims he built the Appalachian Trail but I suspect he had some help with that). He married my grandmother, settled in a house on the same street as many of his relatives, raised four kids and enjoyed nine grandchildren. He spent the rest of his work years at a big paper mill company in a small New England Town.
I have a very fuzzy memory of his retirement. There was a party at my aunt and uncle's house. My uncle served up barbecued chicken and dished potato salad. We swam in the pool. There was a big sheet cake with my grandfather's name on it. I think someone from the mill was there. It was a summer day. I remember not having any clue what retirement meant, but it seemed very very cool.
Then my grandparents began their retirement years together. They traveled around New England. Sometimes they made a "big trip" to Canada. But mostly they stayed close to home and family. They went to church and were active in the community. My grandfather was popular and well liked and was a literate and accomplished public speaker on various political topics for various civic groups. On the weekends they hosted all of their children and grandchildren for big lunches. They bought us nice presents, baked us wonderful cookies and treats, and picked us up from school when were sick until our parents could get home from work. They attended our every baseball game, every dance recital, every play, and then attended our graduations, our weddings, and welcomed several great-grandchildren. When they became too infirm to look after themselves they moved together into an assisted-living apartment. My grandmother passed away 2 years ago, and my grandfather, in advanced stages of Alzheimer's still lives there, just 5 miles from his home of almost 90 years, and within a short drive of all four of his children and many of his siblings and cousins, all of whom continue to visit him weekly. It was a life well-lived, and if he could remember any of it, I'm sure he would not have any regrets about how he spent his retirement.
As this generation -- Brokaw's Greatest Generation -- like my grandfather, passes through the twilight of their lives, their children -- the Baby Boomers -- are now poised to enter the beginning of their retirement years.
Baby Boomers revolutionized American Culture during their young years. These are the same people who listened to the Beatles and smoked weed at Woodstock. Who burned their bras and served in Vietnam. Who marched on Washington for Civil Rights, reproductive rights, gun control, AIDS awareness and any other cause worthy of attention. Who went to college and raised their MTV-addicted Generation X over-achievers in a household where dad and mom worked full time jobs. They were hippies and activists and CEOs and professors and doctors and golfers and grandparents, and now they control an enormous amount of wealth.
What is going to happen when these people really retire en masse?
My in-laws retired a few years ago and now live most of the year down in Florida. They live in a very nice gated community, with homes and condos and luxury apartments surrounding a boat marina and a golf course. Last night we spoke with them to see how they survived Hurricane Wilma. They had decided -- against our pleas -- to ride out the storm inside their condo. Their development overall suffered minimal cosmetic damage -- people's "golf cages" around their pools tore off, and some small issues like screens and roof tiles were reported. The golf course was under an inch or two of water, and the tarps had been ripped from some of the boats in the marina. Seemed like everyone escaped a serious disaster. The worst problem, aside from the lack of electric power, were the were several dozen giant palm trees that fell down, making all of the roads in and out of the community virtually impassable.
A few hours after the storm passed over them, they said people were back outside -- jogging, biking, walking their dogs. My in-laws made a very nice dinner for themselves on their grill outside, and everyone outside was thanking their lucky stars that they didn't have to move their BMWs to higher ground. By the end of the day, the golf course had been drained, and tee times had been booked for the next day (weather permitting, of course).
Probably two miles from this development there were people with less fortified homes that lost more than their power. People sitting in shelters who had yet to return to their demolished mobile homes or beachfront bungalows. People who were still living in temporary houses set up during last year's visit from Charley. And across the Gulf, people still trying to make sense of another hurricane -- entire neighborhoods and cultural riches forever lost to Katrina's floodwaters.
But across the street, the people in my in-laws neighborhood were grilling shrimp and trading hurricane stories over margaritas, getting ready for eighteen holes.
My best friend (who's in-laws also winter in southern FLA) assured me on the phone last week (when I was telling her how worried I was that my in-laws were not evacuating) that it was not that our collective parental units were suddenly un-caring, short-sighted, selfish elitists. It is simply that they are retired. And being retired means that they actually do live in some sort of suspended reality to some extent.
It's not at all that today's affluent Boomer retirees turn their backs on the plights of the less fortunate. I know that our parents, and the many many fortunate others like them, will open their hearts and their wallets to help less fortunate folks, when asked. Indeed my best friend's and my own families are exceedingly generous with charities and with their children and grandchildren. It's just in creating a new sense of "community" for themselves, they seem to sometimes not notice what's going on around them... unless someone or something --like a large scale catastrophe or natural disaster -- brings them back down to earth for a time.
The reality is that we live in a country where it is possible for fortunate people to not live in reality. We live in a country where the first post-hurricane priorities are to drain the golf course and line up the yachts, before righting the trees and providing access for emergency vehicles and repair trucks.
This perma-vacation mentality can create more than a little resentment from the outside world (myself included at times!) but I have to believe that these folks still carry some of the revolutionary flame they had in their 20's and 30's. As the number of officially retired Boomers reaches critical mass, they will wield an enormous amount of power. That huge mass of wealth will shift dramatically -- investments will be cashed in on, properties will be sold, and the Social Security system as we know it (and fear it!) will change. Far from just micro-social impact, the Boomers will also make up a great percentage of the US Congress, and nearly all of the Supreme Court. This retired critical mass will have a powerful voice and will dictate how and when and where and what exactly their end-of-life situations will entail in terms of health plans, assisted living, nursing care, etc. And then, as these retired Boomers age, Gen X will need to provide the backbone of the workforce and support network as the Boomers reach the end of their lives.
On the other end of that equation will be the "Millennial Generation" and "Generation Z" -- or, my children and grandchildren -- who will inherit the wealth and the legacy of the Boomer generation. Children who are (so far) growing up with very few worries in the world. Growing up with Baby Gap and Pottery Barn Teen, with IM monikers and X boxes, with little or no memory of 9/11/2001 and only a very very distant hum of the "War on Terrorism" as background music in their comfortable lives. Unknowingly taking for granted that the rights they take for granted can be just as easily taken away if they do not find -- and use! -- their voice. Where are the revolutionaries? Where are the activists? Where are the bra-burners? I have fear, but great hope, that something will spur the Millennials into action, to effect change and bring peace to this great country.
Make no mistake that the affluent Boomers will re-define retirement. But just how, I guess, remains to be seen.
On another note, what happens when "Generation Z" has children. We're out of letters. Should we start the hurricane naming system (i.e. "Generation Alfredo" "Generation Bettina".... )? Or should we skip straight to Greek letters?
I have a very fuzzy memory of his retirement. There was a party at my aunt and uncle's house. My uncle served up barbecued chicken and dished potato salad. We swam in the pool. There was a big sheet cake with my grandfather's name on it. I think someone from the mill was there. It was a summer day. I remember not having any clue what retirement meant, but it seemed very very cool.
Then my grandparents began their retirement years together. They traveled around New England. Sometimes they made a "big trip" to Canada. But mostly they stayed close to home and family. They went to church and were active in the community. My grandfather was popular and well liked and was a literate and accomplished public speaker on various political topics for various civic groups. On the weekends they hosted all of their children and grandchildren for big lunches. They bought us nice presents, baked us wonderful cookies and treats, and picked us up from school when were sick until our parents could get home from work. They attended our every baseball game, every dance recital, every play, and then attended our graduations, our weddings, and welcomed several great-grandchildren. When they became too infirm to look after themselves they moved together into an assisted-living apartment. My grandmother passed away 2 years ago, and my grandfather, in advanced stages of Alzheimer's still lives there, just 5 miles from his home of almost 90 years, and within a short drive of all four of his children and many of his siblings and cousins, all of whom continue to visit him weekly. It was a life well-lived, and if he could remember any of it, I'm sure he would not have any regrets about how he spent his retirement.
As this generation -- Brokaw's Greatest Generation -- like my grandfather, passes through the twilight of their lives, their children -- the Baby Boomers -- are now poised to enter the beginning of their retirement years.
Baby Boomers revolutionized American Culture during their young years. These are the same people who listened to the Beatles and smoked weed at Woodstock. Who burned their bras and served in Vietnam. Who marched on Washington for Civil Rights, reproductive rights, gun control, AIDS awareness and any other cause worthy of attention. Who went to college and raised their MTV-addicted Generation X over-achievers in a household where dad and mom worked full time jobs. They were hippies and activists and CEOs and professors and doctors and golfers and grandparents, and now they control an enormous amount of wealth.
What is going to happen when these people really retire en masse?
My in-laws retired a few years ago and now live most of the year down in Florida. They live in a very nice gated community, with homes and condos and luxury apartments surrounding a boat marina and a golf course. Last night we spoke with them to see how they survived Hurricane Wilma. They had decided -- against our pleas -- to ride out the storm inside their condo. Their development overall suffered minimal cosmetic damage -- people's "golf cages" around their pools tore off, and some small issues like screens and roof tiles were reported. The golf course was under an inch or two of water, and the tarps had been ripped from some of the boats in the marina. Seemed like everyone escaped a serious disaster. The worst problem, aside from the lack of electric power, were the were several dozen giant palm trees that fell down, making all of the roads in and out of the community virtually impassable.
A few hours after the storm passed over them, they said people were back outside -- jogging, biking, walking their dogs. My in-laws made a very nice dinner for themselves on their grill outside, and everyone outside was thanking their lucky stars that they didn't have to move their BMWs to higher ground. By the end of the day, the golf course had been drained, and tee times had been booked for the next day (weather permitting, of course).
Probably two miles from this development there were people with less fortified homes that lost more than their power. People sitting in shelters who had yet to return to their demolished mobile homes or beachfront bungalows. People who were still living in temporary houses set up during last year's visit from Charley. And across the Gulf, people still trying to make sense of another hurricane -- entire neighborhoods and cultural riches forever lost to Katrina's floodwaters.
But across the street, the people in my in-laws neighborhood were grilling shrimp and trading hurricane stories over margaritas, getting ready for eighteen holes.
My best friend (who's in-laws also winter in southern FLA) assured me on the phone last week (when I was telling her how worried I was that my in-laws were not evacuating) that it was not that our collective parental units were suddenly un-caring, short-sighted, selfish elitists. It is simply that they are retired. And being retired means that they actually do live in some sort of suspended reality to some extent.
It's not at all that today's affluent Boomer retirees turn their backs on the plights of the less fortunate. I know that our parents, and the many many fortunate others like them, will open their hearts and their wallets to help less fortunate folks, when asked. Indeed my best friend's and my own families are exceedingly generous with charities and with their children and grandchildren. It's just in creating a new sense of "community" for themselves, they seem to sometimes not notice what's going on around them... unless someone or something --like a large scale catastrophe or natural disaster -- brings them back down to earth for a time.
The reality is that we live in a country where it is possible for fortunate people to not live in reality. We live in a country where the first post-hurricane priorities are to drain the golf course and line up the yachts, before righting the trees and providing access for emergency vehicles and repair trucks.
This perma-vacation mentality can create more than a little resentment from the outside world (myself included at times!) but I have to believe that these folks still carry some of the revolutionary flame they had in their 20's and 30's. As the number of officially retired Boomers reaches critical mass, they will wield an enormous amount of power. That huge mass of wealth will shift dramatically -- investments will be cashed in on, properties will be sold, and the Social Security system as we know it (and fear it!) will change. Far from just micro-social impact, the Boomers will also make up a great percentage of the US Congress, and nearly all of the Supreme Court. This retired critical mass will have a powerful voice and will dictate how and when and where and what exactly their end-of-life situations will entail in terms of health plans, assisted living, nursing care, etc. And then, as these retired Boomers age, Gen X will need to provide the backbone of the workforce and support network as the Boomers reach the end of their lives.
On the other end of that equation will be the "Millennial Generation" and "Generation Z" -- or, my children and grandchildren -- who will inherit the wealth and the legacy of the Boomer generation. Children who are (so far) growing up with very few worries in the world. Growing up with Baby Gap and Pottery Barn Teen, with IM monikers and X boxes, with little or no memory of 9/11/2001 and only a very very distant hum of the "War on Terrorism" as background music in their comfortable lives. Unknowingly taking for granted that the rights they take for granted can be just as easily taken away if they do not find -- and use! -- their voice. Where are the revolutionaries? Where are the activists? Where are the bra-burners? I have fear, but great hope, that something will spur the Millennials into action, to effect change and bring peace to this great country.
Make no mistake that the affluent Boomers will re-define retirement. But just how, I guess, remains to be seen.
On another note, what happens when "Generation Z" has children. We're out of letters. Should we start the hurricane naming system (i.e. "Generation Alfredo" "Generation Bettina".... )? Or should we skip straight to Greek letters?
posted by Martha Who? | 4:34 AM
2 Comments:
I wouldn't worry about Generation Z's wealth, by the time the housing market collapses and the Fed is impelled to raise interest rates to cover our growing deficit (otherwise, why would china keep underwriting our debt), inflation will make all that wealth meaningless. Ever buy dinner in Italy before the Euro. You would drop 50,000 Lira for a simple plate of marinara.
Thank you Mr. Bush. Your economic saavy is underwhelming.
I have gone brain dead contimplating my grandfather's retirement and constipating over the world of standards our children will inherit. Gots tah hahv da new mahteriahl sistah Mahthah Who?!
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