Transcript Colorado Baby Boomers - University of Colorado Denver

Colorado Baby Boomers
Amanda K. Belles
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Baby Boomers in General:
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Demographic bulge
Post-WWII
“special generation”
More educated
“liberal”
Free spirited
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Experimental
Sexual freedom
Shockwave
Individualism
Social cause oriented
Rock and Roll
Forever altered American culture:
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Assassinations: JFK,
MLK Jr. Robert
Kennedy, Malcolm X
Man on the moon
Vietnam
draft/War/protests
Roe v. Wade
Civil Rights Movement
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Stonewall Riots
Women’s Movement
Environmental
Movement
Woodstock
Beatles
Jimi Hendrix
2011
Colorado Baby Boomers
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500,000 adults born between 1942-1952;
leading edge of the generation
33% of Metro Denver population born
between 1946-1964; U.S. Baby Boomer
Capital
None of this accounts for the boomers
planning on moving to Colorado
Loveland, Colorado
Focus Area #1: Workforce
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Rose Community Foundation study:
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Planning to Retire in next 10 years:
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55 to 65 year-olds in Metro Denver not
planning to retire
23.3% African-American
33% Latino
37% Caucasian
Past 3 years, 55 years and older have
landed nearly 3 million jobs
Focus Area #1: Workforce
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NEGATIVE Reasons for not retiring:
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Inadequate retirement savings
Cuts in pension and health benefits
POSITIVE Reasons for not retiring:
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Staying active
Want to start their own business
Helps provide for travel and leisure activities
Focus Area #1: Workforce
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Problems/Issues:
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Age Discrimination in the Workplace
Lack of resources to assist baby boomers as
they strive to continue in the workforce
Focus Area #1: Workforce
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Positives in Colorado:
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2005 – American Association of Retired
Persons award two Colorado employers as
“best employers for workers over age 50”
University of Colorado Hospital Authority
 Pinnacol Assurance
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Resources Available for Boomers
The Boomer Group – Denver
 “What’s Next Career Transition Services” division
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Focus Area #2: Housing
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Baby Boomers are redefining housing
when it comes to retirement
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No on the cookie-cutter approach
No to moving to beach and warm weather
communities
Yes to areas with tax incentives, health care
options, property values
Yes to amenities that are tech-ready, have
home offices, big kitchens, and storage space
Focus Area #2: Housing
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Colorado = “the new beach front property”
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Colorado Boomers are not moving, but staying
to be close to family and friends
Loveland, Colorado
#1 on the America’s Top Places for Boomers to retire
 “small town feel, with big opportunities”
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Denver Regional Council of Governments study:
1990-2000: Age 65+ population in Colorado
increased over 20%
 2010-2020 predictions: Age 65+ population in
Colorado will increase by 130%
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Focus Area #2: Housing
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Problems/Issues:
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Not enough senior-type housing to meet the
needs of the predicted number of baby
boomers in Colorado over the next ten years
Adequate housing with adequate amenities
Focus Area #3: Health Care
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Shortage of health care professionals
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World Health Organization: “a chronic
shortage of 4 million college trained health
care workers in 57 countries”
U.S. Bureau of Labor Statistics: baby boomers
in need of health care will be at least 10
million in next ten years
2016: health care jobs in demand will rise by
22%
Focus Area #3: Health Care
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Shortage (continued):
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Over the next decade:
Boomer population – increase by 36%
 College-aged/health care population – increase by
2.9%
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American Association of Colleges of Nursing:
By 2020: 44 states will face a nurse shortage
 Between 2010-2030: elderly caregivers will
decrease by 40%
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Focus Area #3: Health Care
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Other related issues:
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Medicaid:
By 2009: Medicaid costs were at a high $2.6 billion
 Costs for Medicaid continue to rapidly be on the
rise
 Seniors, Disabled, Low-Income populations
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Focus Area #3: Health Care
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What Colorado is Doing:
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HB10-1053 (Sen. Boyd & Rep. Riesberg)***
Implement two studies focused on possible cost
savings that could potentially translate into more
resources/services for seniors
 Study cost-effectiveness of waiver programs that
would provide services to specific Medicaid-related
communities
 Require Colorado Department of Human Services
(CDHS) to hire a firm to focus on the costeffectiveness of the “Older Coloradans Act
programs” – which serve 60+ in various capacities
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Recommendations for Future
CO Leaders
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Workforce:
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Housing:
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More training services available – The Boomer Group
Curbing Age Discrimination
More adequate senior housing/retirement
communities
More Senior focused amenities
Health Care:
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More health care professionals – incentives
Funding for Medicaid – HB10-1053
Recommendations Disclaimer
I realize these proposed recommendations
will absolutely cost more money, money
that currently and will not be available for
years to come due to the economic
situation. HOWEVER, they at least initiate
the much needed conversation about what
needs to be done to meet the currently
unknown needs of the baby boomer
generation over the next decade.
The End