Estate Planning for Boomers: Risking Old Age in America

The Future of Aging with Paul Irving

In this episode, Harry Margolis talks with Paul Irving, the former president of the Milken Institute and current special advisor and founding chair of its Center for the Future of Aging. They discuss Paul's book 'The Upside of Aging' and explore how extended life expectancy impacts society. Paul emphasizes the gift of additional years and the ongoing need to address ageism and the underutilization of older adults in work and volunteering. They explore research on the positive effects of having a purpose and social connections on longevity and health. Furthermore, Paul shares insights on global aging trends from his experiences in countries like Japan, China, and Singapore and advocates for policy changes to support aging populations. The conversation culminates with Paul’s recommendation for a national aging czar and the importance of intergenerational integration within communities.
 
Topics
 
00:52 The Upside of Aging
02:29 Progress and Challenges in Aging
04:44 The Impact of Attitude and Purpose
08:26 Volunteering and Health Benefits
10:18 Rethinking Retirement and Aging
23:29 Global Perspectives on Aging
28:01 Policy Recommendations and Final Thoughts

Exploring Renewment with Helen Dennis

Harry welcomes Helen Dennis, who discusses the innovative concept of 'renewment.' This blend of retirement and renewal supports career women transitioning out of their work lives. The conversation covers various challenges and opportunities of retirement, such as identity, financial security, and caregiving. Helen Dennis, a nationally recognized leader on issues of aging and retirement and co-founder of Renewment, shares the origin and evolution of the Renewment movement, its impact on women, and its unique approach to creating enduring communities. The discussion also touches on gender differences in approaching retirement, financial concerns, and the current inadequacies in policy support for aging populations, particularly around healthcare. Listeners will gain insight into how Renewment helps career women navigate the complexities of their later years with purpose and fulfillment.
More on Helen at https://www.renewment.org/home/
 You can visit Harry’s blog on these topics at https://okboomer.substack.com/ And if you have questions, comments, or suggestions for other topics or speakers, please email him at harry@margolis.com
Topics
00:00 Introduction to Renewment
00:55 Origins of Renewment
01:55 Renewment in Practice
03:05 Challenges and Opportunities in Retirement
05:47 Gender Differences in Retirement
08:34 Financial Security in Retirement
12:06 Evolving Expectations of Retirement
23:47 Policy Recommendations for Aging Population
27:13 Final Thoughts and Recommendations
 

Aging with Dignity: Lizbeth Heyer of 2Life Communities

Lizbeth Heyer, president of 2Life Communities, joins Harry to discuss how the nonprofit organization provides affordable senior housing combined with coordinated services in the Greater Boston area. She highlights their mission to support older adults who cannot afford high-end senior living, emphasizing the importance of dignity, connection, and wellness. Lizbeth and Harry explore 2Life's innovative solutions, including their middle-market Opus community and engagement in policy advocacy to align housing and healthcare resources. The episode also addresses the importance of planning for aging and the benefits of community living over isolation.
 
Visit https://2lifecommunities.org/
 
 You can visit Harry’s blog on these topics at https://okboomer.substack.com/ And if you have questions, comments, or suggestions for other topics or speakers, please email him at harry@margolis.com
 
Topics
 
00:00 Introduction to 2 Life Communities
00:38 Understanding the Mission and Services
01:22 Addressing Elder Economic Insecurity
03:26 Advocacy and Policy Changes
09:12 Challenges in Home Care
11:10 Innovative Solutions for Affordable Senior Living
21:59 The Opus Middle Market Community
24:49 Future Plans and Expansion
29:32 Recommendations for Policymakers and Seniors
35:53 Conclusion and Final Thoughts

Medicaid Reimbursement and Nursing Home Costs with Edward Miller

Edward Miller provides insights from his study on Medicaid reimbursement rates for nursing homes. The discussion covers the economics of nursing homes, including how Medicaid reimburses only 82 cents per dollar of nursing home costs on average, the impact of these reimbursement rates on for-profit vs. non-profit nursing homes, and the variability of reimbursement across different states. He also explores the complexities of cost reporting, the importance of reimbursement in policy discussions, and the implications for future long-term care planning.Topics00:58 Debate on Nursing Home Profitability01:18 Medicaid Reimbursement Rates03:17 Data Collection Challenges08:19 Study Findings and Analysis15:31 State-Level Variations25:45 Policy Implications and Recommendations27:28 Planning for Long-Term Care35:12 Conclusion and Future Discussions
Risking Old Age in America

Understanding Aging Inequality with Deborah Carr

In this episode of 'Risking Old Age in America,' host Harry Margolis speaks with Deborah Carr, a sociology professor and director of the Center for Innovation in Social Sciences at Boston University. They discuss her book, 'Golden Years, Social Inequality and Later Life,' emphasizing how small disadvantages in finances, education, and health accumulate over time, leading to greater disparities as people age. The conversation covers topics like life expectancy gaps, racial inequalities, gender differences in aging, housing insecurity, and the impact of socioeconomic factors on the quality of life for older adults. They also explore the demographic trend of increasing numbers of people aged 85 and above and the societal challenges this poses, urging the need for robust social policies and individual planning to ensure a dignified old age for everyone.Get Deborah’s book, 'Golden Years, Social Inequality and Later Life,': https://a.co/d/8sQM0VlTopics00:47 Understanding Cumulative Disadvantage02:33 Life Expectancy and Health Disparities06:31 Racial Inequalities in Aging11:34 Gender Disparities in Old Age16:51 The Growing Elderly Population19:14 Addressing Inequality in Elder Care24:06 Policy Recommendations and Final Thoughts
Risking Old Age in America

Navigating Demographic Shifts with Bintu Zahara Sakor

In this episode of Risking Old Age in America, host Harry Margolis explores the implications of an aging population and the youth bulge phenomenon in Africa with Bintu Zahara Sakor, a doctoral candidate specializing in African demography. They discuss the potential security risks and opportunities associated with Africa's large youth population, the impact of structural issues like governance, and the contrasting traditions of elderly care between Africa and Western nations. They also touch on migration as a potential solution to demographic shifts and the importance of international collaboration and empathetic policymaking.Topics00:00 Introduction to the Aging Crisis00:31 Meet Bintu Sahara Sikor01:04 Understanding Africa's Youth Bulge02:28 High Fertility Rates and Their Implications03:40 Economic and Security Challenges07:26 The Role of Governance and Structural Issues12:43 Migration as a Potential Solution20:58 Lessons from Africa on Aging26:11 Policy Recommendations for Global Leaders28:57 Final Thoughts and Conclusion
Risking Old Age in America

Navigating Retirement Challenges: Baby Boomers, Income Disparities, and Gender Gaps

In this episode of 'Risking Old Age in America,' host Harry Margolis discusses the imminent retirement of the baby boomer generation with Catherine Collinson, president of the Transamerica Institute and the Transamerica Center for Retirement Studies. They explore findings from a longstanding retirement study, highlighting key issues such as income disparities and their impact on retirement confidence, gender differences in retirement savings, and the reality versus expectations of retirement age. The conversation also touches on policy recommendations for strengthening social safety nets and practical advice for individuals and families planning for retirement.Topics00:40 Overview of Transamerica Institute01:27 Retirement Confidence by Income Level03:18 Age and Income Trends in Retirement07:25 Gender Disparities in Retirement Savings09:54 Disconnect Between Retirement Expectations and Reality13:31 Impact of Caregiving on Retirement14:43 Redefining Retirement: Working in Later Years22:15 Policy Recommendations for Retirement Security23:35 Tips for Individual Retirement Planning28:36 Conclusion and Future Outlook
Risking Old Age in America

Debunking Myths and Building Solutions with Teresa Ghilarducci

In this episode of 'Risking Old Age in America,' host Harry Margolis speaks with Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis and author of 'Work, Retire, Repeat.' They discuss the implications of the aging baby boomer population in the United States and the challenges of retirement preparedness. Ghilarducci debunks four major myths about the working longer consensus and explores how these misconceptions influence retirement policies. She proposes a 'Gray New Deal' to improve jobs for older workers and enhance pension security, advocating for systemic changes, such as universal participation in retirement savings plans. The episode emphasizes the urgency of addressing these issues to prevent elder poverty and ensure financial security for retirees.Topics00:28 Guest Introduction: Teresa Ghilarducci00:53 Debunking the Working Longer Consensus02:56 The Reality of Retirement and Health10:26 Economic Disparities in Longevity17:52 The Gray New Deal: Solutions for Retirement Security24:49 The Thrift Savings Plan Proposal30:22 Conclusion and Call to Action
Risking Old Age in America

Promoting Healthy Aging with Taylor Jansen

In this episode of 'Risking Old Age in America,' host Harry Margolis discusses the impending challenges of aging for baby boomers with Taylor Jansen from the Healthy Aging Data Lab at UMass. They delve into the implications of an aging population, the importance of compiling data on older adults, and the role of social determinants in shaping health outcomes. Taylor highlights the Healthy Aging Data Report's impact on policy and community support, emphasizing age-friendly and dementia-friendly initiatives. They also discuss the significance of chronic disease management and the critical need for community-based services to support aging in place.Topics00:00 Introduction to the Aging Population Crisis00:32 Meet Taylor Jansen: Gerontology Expert01:11 Understanding the Healthy Aging Data Reports03:08 Challenges and Trends in Different States04:58 Defining Chronic Diseases and Their Impact10:13 Age-Friendly Communities and Their Benefits17:01 Preparing for the Baby Boomer Surge19:47 Policy Recommendations for Healthy Aging21:39 Personal Advice for Healthy Aging
Risking Old Age in America

The Challenges of America’s Aging Workforce with Beth Truesdale

In this episode of 'Risking Old Age in America,' host Harry Margolis speaks with Beth Truesdale, a research fellow at the W. E. Upjohn Institute for Employment Research, about the realities and challenges faced by America's aging workforce. They discuss why extending working years is not a feasible solution for many Americans due to health issues, family caregiving responsibilities, and job instability, especially for those in physically demanding jobs. Beth emphasizes the importance of improving job quality and implementing supportive policies at both state and national levels to better aid older workers. The conversation also addresses concerns about the sustainability of the Social Security system and potential policy changes that could alleviate financial stress for retirees.Topics00:00 Introduction to the Aging Workforce Crisis00:48 Challenges of Working Longer02:25 Barriers to Employment in the 50s and Beyond05:31 Policy Solutions for Job Quality12:37 Impact of the Gig Economy18:59 Social Security and Retirement Age Debate25:24 Recommendations for Policymakers and Individuals29:11 Conclusion and Final Thoughts
Risking Old Age in America