Colorado Baby BoomersColorado Baby Boomers

Amanda K. BellesAmanda K. Belles

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Baby Boomers in General:Baby Boomers in General:

Demographic bulgeDemographic bulge Post-WWIIPost-WWII ““special special

generation”generation” More educatedMore educated ““liberal”liberal” Free spiritedFree spirited

ExperimentalExperimental Sexual freedomSexual freedom ShockwaveShockwave IndividualismIndividualism Social cause Social cause

oriented oriented Rock and Roll Rock and Roll

Forever altered American Forever altered American culture:culture:

Assassinations: JFK, Assassinations: JFK, MLK Jr. Robert MLK Jr. Robert Kennedy, Malcolm Kennedy, Malcolm XX

Man on the moonMan on the moon Vietnam Vietnam

draft/War/protestsdraft/War/protests Roe v. WadeRoe v. Wade Civil Rights Civil Rights

MovementMovement

Stonewall RiotsStonewall Riots Women’s Women’s

MovementMovement Environmental Environmental

MovementMovement WoodstockWoodstock BeatlesBeatles Jimi HendrixJimi Hendrix

20112011

Colorado Baby BoomersColorado Baby Boomers 500,000 adults born between 1942-500,000 adults born between 1942-

1952; leading edge of the generation1952; leading edge of the generation 33% of Metro Denver population born 33% of Metro Denver population born

between 1946-1964; U.S. Baby between 1946-1964; U.S. Baby Boomer CapitalBoomer Capital

None of this accounts for the boomers None of this accounts for the boomers planning on moving to Colorado planning on moving to Colorado

Loveland, ColoradoLoveland, Colorado

Focus Area #1: Focus Area #1: WorkforceWorkforce

Rose Community Foundation study:Rose Community Foundation study: 55 to 65 year-olds in Metro Denver not 55 to 65 year-olds in Metro Denver not

planning to retireplanning to retire Planning to Retire in next 10 years:Planning to Retire in next 10 years:

23.3% African-American23.3% African-American 33% Latino33% Latino 37% Caucasian37% Caucasian

Past 3 years, 55 years and older Past 3 years, 55 years and older have landed nearly 3 million jobshave landed nearly 3 million jobs

Focus Area #1: Focus Area #1: WorkforceWorkforce

NEGATIVE Reasons for not retiring:NEGATIVE Reasons for not retiring: Inadequate retirement savingsInadequate retirement savings Cuts in pension and health benefitsCuts in pension and health benefits

POSITIVE Reasons for not retiring:POSITIVE Reasons for not retiring: Staying activeStaying active Want to start their own businessWant to start their own business Helps provide for travel and leisure Helps provide for travel and leisure

activitiesactivities

Focus Area #1: Focus Area #1: WorkforceWorkforce

Problems/Issues:Problems/Issues: Age Discrimination in the Workplace Age Discrimination in the Workplace Lack of resources to assist baby Lack of resources to assist baby

boomers as they strive to continue in boomers as they strive to continue in the workforce the workforce

Focus Area #1: Focus Area #1: WorkforceWorkforce

Positives in Colorado:Positives in Colorado: 2005 – American Association of Retired 2005 – American Association of Retired

Persons award two Colorado employers as Persons award two Colorado employers as “best employers for workers over age 50”“best employers for workers over age 50”

University of Colorado Hospital AuthorityUniversity of Colorado Hospital Authority Pinnacol AssurancePinnacol Assurance

Resources Available for BoomersResources Available for Boomers The Boomer Group – Denver The Boomer Group – Denver ““What’s Next Career Transition Services” What’s Next Career Transition Services”

divisiondivision

Focus Area #2: HousingFocus Area #2: Housing

Baby Boomers are redefining housing Baby Boomers are redefining housing when it comes to retirementwhen it comes to retirement No on the cookie-cutter approachNo on the cookie-cutter approach No to moving to beach and warm weather No to moving to beach and warm weather

communitiescommunities Yes to areas with tax incentives, health Yes to areas with tax incentives, health

care options, property valuescare options, property values Yes to amenities that are tech-ready, Yes to amenities that are tech-ready,

have home offices, big kitchens, and have home offices, big kitchens, and storage spacestorage space

Focus Area #2: HousingFocus Area #2: Housing Colorado = “the new beach front property”Colorado = “the new beach front property”

Colorado Boomers are not moving, but staying Colorado Boomers are not moving, but staying to be close to family and friendsto be close to family and friends

Loveland, ColoradoLoveland, Colorado #1 on the America’s Top Places for Boomers to retire#1 on the America’s Top Places for Boomers to retire ““small town feel, with big opportunities” small town feel, with big opportunities”

Denver Regional Council of Governments study:Denver Regional Council of Governments study: 1990-2000: Age 65+ population in Colorado 1990-2000: Age 65+ population in Colorado

increased over 20%increased over 20% 2010-2020 predictions: Age 65+ population in 2010-2020 predictions: Age 65+ population in

Colorado will increase by 130%Colorado will increase by 130%

Focus Area #2: HousingFocus Area #2: Housing

Problems/Issues:Problems/Issues: Not enough senior-type housing to meet Not enough senior-type housing to meet

the needs of the predicted number of the needs of the predicted number of baby boomers in Colorado over the next baby boomers in Colorado over the next ten yearsten years

Adequate housing with adequate Adequate housing with adequate amenities amenities

Focus Area #3: Health Focus Area #3: Health CareCare

Shortage of health care professionalsShortage of health care professionals World Health Organization: “a chronic World Health Organization: “a chronic

shortage of 4 million college trained shortage of 4 million college trained health care workers in 57 countries”health care workers in 57 countries”

U.S. Bureau of Labor Statistics: baby U.S. Bureau of Labor Statistics: baby boomers in need of health care will be at boomers in need of health care will be at least 10 million in next ten yearsleast 10 million in next ten years

2016: health care jobs in demand will 2016: health care jobs in demand will rise by 22%rise by 22%

Focus Area #3: Health Focus Area #3: Health CareCare

Shortage (continued):Shortage (continued): Over the next decade:Over the next decade:

Boomer population – increase by 36%Boomer population – increase by 36% College-aged/health care population – increase College-aged/health care population – increase

by 2.9%by 2.9% American Association of Colleges of American Association of Colleges of

Nursing:Nursing: By 2020: 44 states will face a nurse shortageBy 2020: 44 states will face a nurse shortage Between 2010-2030: elderly caregivers will Between 2010-2030: elderly caregivers will

decrease by 40%decrease by 40%

Focus Area #3: Health Focus Area #3: Health CareCare

Other related issues:Other related issues: Medicaid:Medicaid:

By 2009: Medicaid costs were at a high $2.6 By 2009: Medicaid costs were at a high $2.6 billionbillion

Costs for Medicaid continue to rapidly be on Costs for Medicaid continue to rapidly be on the risethe rise

Seniors, Disabled, Low-Income populationsSeniors, Disabled, Low-Income populations

Focus Area #3: Health Focus Area #3: Health CareCare

What Colorado is Doing:What Colorado is Doing: HB10-1053 (Sen. Boyd & Rep. HB10-1053 (Sen. Boyd & Rep.

Riesberg)***Riesberg)*** Implement two studies focused on possible Implement two studies focused on possible

cost savings that could potentially translate cost savings that could potentially translate into more resources/services for seniorsinto more resources/services for seniors

Study cost-effectiveness of waiver programs Study cost-effectiveness of waiver programs that would provide services to specific that would provide services to specific Medicaid-related communitiesMedicaid-related communities

Require Colorado Department of Human Require Colorado Department of Human Services (CDHS) to hire a firm to focus on the Services (CDHS) to hire a firm to focus on the cost-effectiveness of the “Older Coloradans cost-effectiveness of the “Older Coloradans Act programs” – which serve 60+ in various Act programs” – which serve 60+ in various capacitiescapacities

Recommendations for Recommendations for Future CO LeadersFuture CO Leaders

Workforce:Workforce: More training services available – The Boomer More training services available – The Boomer

GroupGroup Curbing Age DiscriminationCurbing Age Discrimination

Housing:Housing: More adequate senior housing/retirement More adequate senior housing/retirement

communitiescommunities More Senior focused amenitiesMore Senior focused amenities

Health Care:Health Care: More health care professionals – incentivesMore health care professionals – incentives Funding for Medicaid – HB10-1053 Funding for Medicaid – HB10-1053

Recommendations Recommendations DisclaimerDisclaimer

I realize these proposed recommendations I realize these proposed recommendations will absolutely cost more money, money will absolutely cost more money, money that currently and will not be available that currently and will not be available for years to come due to the economic for years to come due to the economic

situation. HOWEVER, they at least situation. HOWEVER, they at least initiate the much needed conversation initiate the much needed conversation about what needs to be done to meet about what needs to be done to meet

the currently unknown needs of the baby the currently unknown needs of the baby boomer generation over the next boomer generation over the next

decade. decade.

The EndThe End