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Elderly people who are confined to nursing homes do remarkably better, physiologically and psychologically, when they have some control over their day-to-day lives. Homes should, perhaps, allow patients to keep a pet, have some say over their schedules, and decorate their room. “It’s not responsibility that kills, it’s the lack of control,” says Dr. Estelle Ramey, a professor of physiology and biophysics at Georgetown University Medical School. “The driver isn’t under as much pressure as the passenger.”

End-of-Life Care

You should also prepare a health care power of attorney document, which will appoint someone to make decisions about your end-of-life care or cessation of treatment. This would go into effect when your doctor determines that you are no longer able to make such decisions yourself.

A Living Will

Another important document is a living will, in which you state what life-support procedures you want or don’t want. This is extremely important if you want to avoid putting your loved ones in a situation where they may have to fight with the doctors about what to do. When developing a living will or power of attorney document, you will need to know what your state’s laws say about such end-of-life advance directives.

If you prefer not be resuscitated should your heart or breathing stop, you will need a Do Not Resuscitate order (DNR). This should be signed by a doctor and put into your medical records. These orders are accepted in all states.

I know that these are all difficult issues to come to terms with, but I strongly encourage you to accept the challenge—not one of these days, but right now.

CHAPTER 19

Let’s Hear It for Revolution!

The meaning or the lack of meaning that old age takes on in any given society puts that whole society to the test, since it is this that reveals the meaning or lack of meaning of the entirety of the life leading to that old age.

—SIMONE DE BEAUVOIR,
The Coming of Age

A
S I HAVE SAID BEFORE IN THIS BOOK, THE PRESENT GENERATION of boomers and seniors is redefining what it means to age. In record numbers, we are surviving, thriving, and defying stereotypes. I believe we are collectively moving into a more productive and creative vision of retirement. New research has shed light on the aging process, and the span of healthy living is increasing. Government programs instituted in the twentieth century have begun to reduce poverty and isolation among older citizens. With years of vitality both behind us and ahead of us, we are the face of what the late Dr. Robert Butler called the “longevity revolution.”

We know that we matter. At least we should know. Having confidence about our place in the world is not only good for us psychologically, it is also critical for advancing the social and political issues that matter to us. If we are going to advocate for ourselves and others—if we are going to step up and offer solutions to pressing global problems—we need to believe we have the
right
to do so. We need to take stock of how much we contribute, become aware of the wisdom we have to offer. We should be proud of our deeds—even as we express our needs.

As a social group, we must remain aware of the negative stereotypes that can damage our sense of ourselves. One of the most destructive myths about older people is that of the “greedy geezer,” the selfish, narrow-minded, stingy hoarder who shows little concern for others. I believe these portrayals are inaccurate. Considering all of the contributions older people make through spending, working, volunteering, donating, and caretaking, it is clear that we provide more to society than we drain from it.

The Ways Seniors Contribute

Older individuals participate in the marketplace by paying for specialized goods and services; they constitute what is called a “silver market.” Economists argue that there is an important dividend that comes from the increasing number of older people who are relatively well-off and who now make up a greater proportion of the market share.
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Many retirees have accumulated wealth and offer significant spending power, which stimulates jobs and financial growth. Older individuals make invaluable investments in real estate, continuing education, technologies for independent living, travel, tourism, health services, and the like. Our spending in the health care industry is not trivial, either. Economists have recently asserted that the health care industry is helping to prop up our nation’s economy; it continues to add new jobs and serves as one-seventh of the economy.

WE SPEND MONEY

Some older people have been nicknamed Woofs (Well-Off Older Folks).
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Identified as having golden spending power, this demographic is being closely watched by marketing companies, insurance companies, and wealth managers. A study by the MetLife Mature Market Institute reported that the estimated spending power of baby boomers will soon exceed $2 trillion dollars annually. Boomer households are believed to spend up to $45,000 per year. It is forecast that a shift in entertainment, advertising, and perhaps voting patterns will occur as boomers retire.
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However, the degree to which the silver market thrives is highly policy-dependent. In the countries where sound retirement plans are provided, older individuals feel secure enough to spend their wealth rather than save it. This underscores the critical importance of keeping Social Security solvent while also upholding incentives for private pensions. At present, no federal laws mandate that our companies—even our largest international corporations—provide pensions to their employees.
⁴
Worse yet, when workers save for retirement solely through private accounts, many find themselves woefully under budget. Currently, only 60 percent of American workers are saving for retirement, and about half of them have put away only $25,000. Yet IRAs and 401(k)s remain the common alternative for the company pension.
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No matter how retirement savings are to be structured in the future, it must be understood that programs that support retirement security also support economic growth.

LATE-LIFE TECHNOLOGICAL INNOVATIONS

Beyond our spending power, our lifestyle changes have spurred significant technological innovation. According to the Stanford Center on Longevity, a host of mobile text-messaging systems and assistive technologies are being developed to improve personal and public health. High-tech inventions, including multisystem household sensors, motion detectors, and robotics, have been developed to help older people live safely and independently in their homes.

People have long been familiar with household accommodations for the elderly, including bathroom railings, motorized stairlifts, and lever-style door handles. But the most up-to-date technologies use sensitive monitoring systems to provide minute-by-minute information to outside caretakers. Environmental sensors can monitor stove and appliance use and household temperature and can indicate hazards such as high carbon monoxide levels, flooding, or gas leaks. Motion and pressure sensors can track when an older person gets in and out of bed and monitor in the event of a fall. Messages from passive sensors can be relayed to caregivers, who can then decide whether to call on the older person. Door sensors can be used to signal when an older person leaves the home, and location trackers can help pinpoint the location of an older person who is prone to wandering. These advances allow older people to live in their homes longer, even if they have a health condition, mobility problem, or complex medication regimen.
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SENIORS ARE READY AND WILLING TO EMBRACE NEW TECHNOLOGIES

Still, it is important to avoid stereotypes when considering how older people use technology. The majority of individuals entering retirement today are generally comfortable using cellphones, computers, and the Internet. Most are not technophobic. In fact, many aging baby boomers eagerly follow along with new advances in telecommunications and computer science. As a generation that identified with rock and roll and counterculture trends, they likely do not (and will not) identify with overly simplistic products designed for “the elderly.” Technology designers appreciate that the over-fifty generation grew up in entirely different circumstances than their parents did; today’s retirees enjoy experimenting with, learning about, and purchasing technology. Experts predict that baby boomers will embrace available technologies, especially social-networking sites, to reduce their social isolation—for example, sites such as eNeighbors and Microsoft’s Virtual Senior Center, now used in New York City.

WE ARE GENEROUS

Not only do we contribute as consumers, we are by far the biggest charitable donors. Older individuals donate more money to universities, charities, and civic organizations than any other age group. According to the National Philanthropic Trust, by 2055 an estimated $41 trillion will change hands as Americans pass on their accumulated assets to the next generation.
⁷
The
Chronicle of Philanthropy
has reported that “mature donors” (those born prior to 1946) give the highest amount to charity (an average of $1,066 per year), give to the highest number of different charities, and demonstrate the highest rate of giving (77 percent of these individuals give). Close behind are the baby boomers. Among those born between 1946 and 1964, 66 percent give to charity, and they give an average of $900 each year.
⁸

WE VOLUNTEER

Volunteering is another important way older people give. Many deeds by older citizens go unpaid, and we must not underestimate the social and monetary value of volunteerism. Older citizens are active citizens; their efforts as volunteers help uphold communities. They organize and participate in civic organizations, run election polls, mentor young people, support their peers in long-term care and hospice, lead recreation groups, and assist visitors at hospitals, libraries, schools, and museums. They are active in local, state, and federal governing bodies. Older Americans participate in the Peace Corps (with people fifty and over serving as 10 percent of the corps),
⁹
not to mention the many volunteers in the Senior Corps programs. Economists estimate that the tasks performed by volunteers, given the level of education and training that would be required, are valued at $20 per hour.
¹⁰

WE WORK

Among AARP members, almost half (47 percent) work full- or part-time. The word “retired” does not necessarily mean one has wholly abandoned the workplace. It is estimated that about one-third of men and almost one-fourth of women between sixty-five and sixty-nine are in the labor force today. Furthermore, the rates of employment among older individuals have been rising. AARP projects that roughly one in three workers will be fifty or older within a matter of years.
¹¹

Employers frequently fail to recognize the valuable attributes of older workers. The abilities of older people are often underestimated, but they should not be. The depth of our expertise and the breadth of our knowledge base make us critical resources for our communities, families, and places of business. For instance, one’s fund of knowledge and depth of expertise can serve as a cognitive strength well into old age. Similarly, our judgments and decision making in real-world contexts are often sound, having been tempered by experience. After all I have read and heard, I am convinced that whatever small declines come with age, they do not outweigh the strengths tied to our reasoned approach to problem solving and our depth of expertise.

Older people help others maintain their work-life balance. Family caretaking is often provided by older people in the form of care for grandparents, siblings, and peers. Caretaking duties have a direct impact on the well-being of families as well as on the economy. By providing child care and elder care, older people allow other family members to reduce their absenteeism and maintain their productivity in the workplace. Our collective efforts as caretakers represent the equivalent of millions of full-time workers serving the young, old, and infirm.

Problems Persist

POVERTY

Older people remain at high risk for poverty. For 30 percent of retirees, Social Security is 90 percent of their income, and 7.1 million individuals over sixty-five live in poverty. The current unemployment rate for “mature” workers is at an all-time high of 6.7 percent. In 2007, the average income among individuals sixty-five and over was $28,449; but the median income was only $17,382.
¹²
Without Social Security, almost half of all older Americans would be in poverty. Social Security is the most important source of retirement income for the majority of Americans.

SOCIAL SECURITY

The 2008 Social Security Trustees report projected that without any change in current law, the assets of the Social Security trust fund will remain solvent, but not for very long. The disability trust fund, one part of the Social Security umbrella, is projected to remain solvent over the next ten years. The combined fund for retirees and survivors insurance (OASDI trust fund) is expected to remain solvent until 2041. Similarly, the Congressional Budget Office has estimated that Social Security will have sufficient funds to continue paying full benefits on time through 2048.
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