SandwichINK Current Events: Senior & Boomer News

This past week has seen many interesting headlines. Of special interest to the Sandwich Generation are the headlines that apply to Baby Boomers (of which so many of us, myself included, are a part) and Senior Citizens (another designation that applies to many of us, as well as the aging parents we are caring for).

One headline in particular, that caught at my heart this morning, involves Medicare and, possibly, Social Security. For years we’ve heard dire warnings about the financial status of these two programs but it was always decades in the future. Those decades may be about to catch up with us! The Washington Times is reporting that, thanks to the current recession, both these programs are experiencing worse shortfalls than anticipated.

Medicare, in particular, seems to be doing very poorly, paying out more in benefits than it will receive from taxes this year! Since both of these programs are funded by payroll taxes, and unemployment is at a 25-year high, simple math tells us that the programs are hurting, big time!

Because of these and other issues, many Boomers and Seniors are planning on working longer than they originally intended. A close friend of mine and her husband, who are very practical and money-wise, had originally planned on retiring in two more years. Now, with the economy in the straits it is in, they are extending their plans by five or more years. Sadly, four other friends have seen their jobs disappear in layoffs and are not sure what they are going to do. With few new jobs on the horizon, and not enough money in savings, it’s a very difficult season of life for them.

For those of us who are caregivers, it’s even more stressful! We are not only having to deal with our own situation, but that of elderly parents as well. Sometimes even grandkids! Is there anything we can do? To me, the most important thing is to draw close to God and trust Him for our provision. His promises to care for us aren’t dependent on circumstances or personal situations. For that, I am so very grateful! Daily, I turn to Him in prayer and Bible study, and daily He encourages me. As He has promised, "As for God, His way is blameless; The word of the LORD is tried; He is a shield to all who take refuge in Him.” Psalm 18:30 and “Trust in the LORD with all your heart And do not lean on your own understanding. In all your ways acknowledge Him, And He will make your paths straight.” Proverbs 3:5-6.

Other steps we can take include working hard to stay healthy and spending our money wisely. I am always on the lookout for ideas and tips on how to do that. Today’s Boomers & Seniors Blog Carnival: News You Can Use has several articles all in one place that can help us in those endeavors. It includes: How to Afford Health Care in Retirement , 3 Major Ways Your Life Insurance Company May Be Scamming You , and 25 Excellent Social Media Sites for Your Health. Mos t of those Health sites were new to me so I definitely bookmarked it. There are several other interesting articles on the topics of Seniors and Caregiving, Financial Issues, and Health and Wellness. You’ll spot a couple of my articles there as well. 

How are things going for you? Have you found any great sites or tips to help with retirement or senior needs in this uncertain economy? We’d love to hear about them.

Well, that’s a wrap for this weeks’ current events at SandwichINK. You can read a variety of other current events articles by popping over to The Surrendered Scribe .

Tagged as: aging parents, caregiver, caregiving, elderly, Medicare, retirement, Sandwich Generation, social security