Baby boomers have consistently, and happily, been labeled as rule changers (Rybarski, 2004). It should be no surprise that as the cohort enters retirement age, their concerns and fears are different from other generations. In particular, the end of life conversation is taking a very different path that ranges from innovation in funeral expectations to suicide.

Right now, many Boomers are watching their parents age and become less independent. Some feel resentment to the expectation of caring for their parents and the emotional response is natural (Goulston, 2010). The difference lies in how these experiences are generating a unique conversation about their own end of life. At one end of the conversation spectrum, Boomers are exploring alternatives to traditional funerals and not using funeral homes for their parents or their own planning. Cremation and the spreading of ashes have become more commonplace (Rybarski, 2004).

At the opposite end of the spectrum, Boomers are dialoging about how to not be a burden for their own children (Goulston, 2010). Some are planning ahead for what they want to happen when they can no longer care for themselves. At the same time, many fear outliving their savings. This isn’t even accounting for unexpected expenses later in life – such as people trying to get life insurance with cancer history. Some have already decided to not save money for their children and instead use all savings to maintain or improve quality of life after retirement. In fact, over half of people aged 44 to 75 fear running out of money more than death (Fleck, 2010).

Overall, research is revealing that Boomers are fairly glum when it comes to external influencers like the economy.

Fully 80% say they are dissatisfied with the way things are going in the country today, compared with 60% of those ages 18 to 29 (Millennials); 69% of those ages 30 to 45 (Generation Xers) and 76% of those 65 and older (the Silent and Greatest Generations).

They feel their standard of living is lower than their parents, enough to have to postpone retirement, and that their children will face greater hardship (Cohn & Taylor, 2010).

However, when looking at internal influencers like perceived health, older people are generally positive. In fact, older people are more positive about their current health than younger people think. Younger people feel “old” happens at about 60 years and that life is difficult and challenging at this age. The reality is that older people generally feel younger than their age and face few old age related challenges until later. Their lives are richer and more meaningful than younger people imagine, and yet their outlook remains glum (Cohn & Taylor, 2010; Pew Social Trends Staff, 2009).

Younger people think life is very different from what older people actually experience. It’s possible that greater interaction between groups will help close the knowledge gap, particularly since Boomers are one of the largest population segments (Pew Social Trends Staff, 2009).

There is one additional outcome that is being discussed and researched. When Baby boomers were adolescents, their suicide rate was higher than seen previously. Unfortunately, the suicide rate is again on the rise within the population. Researchers suspect that the option feels more viable for Boomers because they knew people that committed suicide when younger. “Baby boomers appear to be driving a dramatic rise in suicide rates among middle-aged people” (Emory University, 2010). There is a real possibility that some Boomers are currently choosing, and others will choose, suicide over feeling a burden to others. Watching their own parents become dependent on others and understanding what may come is encouraging some to consider, and others to implement, very different decisions to avoid this time in their lives.

Baby Boomers are still changing the rules. Not wanting to feel like a burden will motivate different kinds of decisions compared to previous generations, possibly even suicide. Businesses that focus on older populations have an opportunity to be part of this new conversation by helping Boomers not feel like a being a burden is in their future. Further research with Boomers can reveal the best ways to enter and frame an end of life conversation.

References

Cohn, D’Vera & Paul Taylor (December 20, 2010). Baby boomers approach 65-glumly.  Pew Research Center. Retrieved November 28, 2011, http://www.pewsocialtrends.org/2010/12/20/baby-boomers-approach-65-glumly/

Emory University (2010, September 27). Baby boomers raise midlife suicide rate, study suggests. ScienceDaily. Retrieved November 28, 2011, from http://www.sciencedaily.com/releases/2010/09 /100927105201.htm

Fleck, Carole (July 1, 2010). Running out of money worse than death. AARP Bulletin. Retrieved November 28, 2011, from http://www.aarp.org/work/retirement-planning/info-06-2010/running_out_of_money_worse_than_death.html

Goulston, Mark, M.D., F.A.P.A. (June 30, 2010). Baby boomer death wish. Psychology Today.  Retrieved November 28, 2011, from http://www.psychologytoday.com

Pew Social Trends Staff (June 29, 2009). Growing old in America. Pew Research Center. Retrieved November 28, 2011, http://www.pewsocialtrends.org/2009/06/29/growing-old-in-america-expectations-vs-reality/

Rybarski, Michael (June 2004). Boomer after all is said and done. American Demographics. Retrieved November 28, 2011, from www.demographics.com