{"id":812,"date":"2020-03-12T13:33:56","date_gmt":"2020-03-12T03:33:56","guid":{"rendered":"https:\/\/astutecs.stackedsite.com\/?p=812"},"modified":"2020-05-01T17:16:10","modified_gmt":"2020-05-01T07:16:10","slug":"from-time-poor-to-time-rich-how-baby-boomers-can-enhance-their-well-being-and-have-a-massive-impact-on-society-in-their-retirement","status":"publish","type":"post","link":"https:\/\/astutecs.com.au\/2020\/03\/12\/from-time-poor-to-time-rich-how-baby-boomers-can-enhance-their-well-being-and-have-a-massive-impact-on-society-in-their-retirement\/","title":{"rendered":"From “time poor” to “time rich”: How Baby Boomers can enhance their well-being and have a massive impact on their society in their retirement"},"content":{"rendered":"\n

\u200bIt is no secret that the baby boomers are a generation of influence. There are a lot of them, and they are credited with creating historical shifts in the narratives around economics, politics, popular culture, education and consumer behaviour. Sociological and economic theories have been developed to identify the shifts associated with this generation\u2019s progress through the lifespan, and the economic well-being of the world is often tied to their activities. 
Basically, how the baby boomers spend their time and their money has flow-on effects for everyone.<\/strong><\/p>\n\n\n\n

Now that the baby boomers are in the process of retiring, there are, naturally, consequences in terms of how resources are allocated and what provisions need to be made for an ageing population. However, baby boomer retirements also represent an unprecedented opportunity that, I believe, can have a tremendous positive impact on society at large. That opportunity lies in the capacity of baby boomers to use their new \u201ctime rich\u201d status to contribute to their communities in ways that really matter, whilst boosting their own well-being, happiness and longevity.<\/p>\n\n\n\n

When we think of the struggles of modern life, there is often a conversation about the amount of pressure people feel; the struggle and juggle of balancing family, work and other commitments; the sense of disconnect and loneliness experienced by many; and the sense that, in the rush to get things done, we often lose sight of why we are doing what we are doing. The prevalence of mental health challenges is high, and suicide rates in Australia continue to rise. Although there are many exceptions, there is a sense that, as a society, we are resource-rich but connection-poor.<\/p>\n\n\n\n

What does this have to do with the baby boomers?<\/strong><\/p>\n\n\n\n

Although there are a number of economic consequences of the baby boomers retiring, it is worth noting that having less baby boomers working full-time creates an opportunity that has not previously existed. We have large numbers of educated, experienced, motivated and highly competent people with more time and less demands than ever before. So, whilst younger generations may be running low on precious commodities like time and energy, newly retired baby boomers are likely to have those to spare. Finding ways of connecting time rich boomers with time poor Gen Xers and beyond seems worthy of consideration.<\/p>\n\n\n\n

The other great thing about baby boomers retiring is that, in addition to having more time available, they are likely to WANT to do things other than become glorified babysitters for their grandchildren. As lovely as it is to be able to help out with the grandchildren, this is a generation of doers and change-makers, and rightly or wrongly, they have a reputation for being ambitious workaholics. That reputation implies both a risk and an opportunity for baby boomers when they become retirees.<\/p>\n\n\n\n

Like all major life transitions, retirement can be stressful. This is particularly the case for those who do not have a clear plan for what they will do instead. Presumably, most (if not all) retirees have done their financial homework and have some sort of plan regarding how they will pay for their retirement. However, apart from some vague notions of increasing the time spent pursuing hobbies and helping out with the grandchildren, many retirees don\u2019t really know what they will do to:<\/p>\n\n\n\n