Over 75 million Americans comprise the baby boomer generation, and many have reached an age where health care is starting to become a major concern. Baby boomers are generally recognized as the generation born between 1946 and 1964, although many who were born a few years before or after associate themselves with the name. The baby boomers represent a post World War II population explosion and their inevitable aging has made the world statistically older than ever.
The oldest baby boomers are already in their sixties and the health care industry is beginning to feel the effect of their age. The onset of the baby boomer generation saw unprecedented growth for hospitals and clinics in the period between 1950 and 1965. It is now estimated that the current number of senior care facilities, which is far less than the number of existing hospitals and clinics, will be insufficient to handle the large number of aging baby boomers. Furthermore, baby boomers are more likely to seek medical care than the previous generation. Where there parents would often avoid going to see the doctor, baby boomers consider medical care paramount to their overall health and happiness.
The end result of this aging generation on the health care industry will be the creation of several new jobs out of necessity. The US Department of Labor estimates that the health care industry will experience growth that is well above average compared to all other industries over the next two decades. This can be attributed directly to the sheer numbers of this aging generation and their outlook on medical care. In fact, it is entirely possible that there may be a shortage of health care workers in the very near future.
Shortages in personnel often cause wages to rise, a scenario that seems a likely fate for many health care positions. Only time will tell if the supply of workers is able to meet the demands placed on the health care industry by the baby boomer generation.
Aging Baby Boomers Create Jobs in Health Care
Boomers Have Big Hopes For Small Businesses
As they approach retirement age, many baby boomers are considering alternatives to retirement.
A growing number of them plan to forgo golf, travel and other pursuits to continue working through what have long been considered the retirement years. According to a report by AARP, 80 percent of those born from 1946 to 1964 plan to work after retirement.
Some are taking this time of their lives to start a small business. In fact, AARP also reported that 40 percent of U.S. entrepreneurs are over 50.
For those thinking to take advantage of this trend, Paul and Sarah Edwards, self-employment lifestyle experts and authors of "The Best Home Businesses for People 50+," offer some advice. "Starting a small business out of the home at any age can be very challenging but rewarding," says Edwards. "However, Sarah and I have developed a few tips for our fellow boomers to keep in mind when embarking on this exciting new phase of their life."
• Do it Your Way. A home- based career allows you to decide everything from how much time you want to dedicate to your business to where you want to be located.
• No More Office. Many experts believe that taking a business online is the easiest way to accomplish your goal of working while maintaining freedom. If your small business is located online, you have low overhead costs and can be found by customers around the globe without regard to where you are located.
• Have an Online Presence. Virtually every business can be helped with a presence on the Web. This is easier than it seems if you work with a reputable Web solutions partner.
For example, Network Solutions focuses on small businesses by offering products and services such as Do-It-For-Me Web sites (DIFM), easy-to-use templates and 24/7 customer consultants. Such services provide you with a Web partner that will enhance your business.
• Do What You Enjoy. "Becoming your own boss is an opportunity to do something you want to do," says Sarah Edwards. "For example, you can spend as much time as you want on a hobby because you're making money in the process, or helping other people or working with the kind of customers you choose to work with."