Are the Baby Boomers a Threat?

[Kewlest]

The term "Baby Boomer" is sometimes used in a cultural context, and sometimes used to describe someone who was born during the post-WWII baby boom. If one was born between 1946 and 1964, he is considered a Baby Boomer.

Is New Zealand the “promise land” for Baby Boomers entering the retirement phase of their lives? The year 2011 is supposed to begin the mass exodus of the Boomers from the work place. It makes me wonder where will they go and what will they do? Known as the wealthy generation will their migration sustain or increase economies. On the contrary, will the Boomers leave one workforce for another creating a glass ceiling for the X and Y generations of their gaining locale?

Stuck between generation X and Y the decisions of the Boomers have a serious influence. I am interested to hear thoughts on this matter.

[cbrown]

Naah.
I don't think so because of three issues:
1) I think that Baby Boomers (in general) are not going to have as much disposable income as they thought and coming to another first world country with a higher cost of living may be too restrictive for most.
2) Being far away from family (kids, grandkids)..the same reasons why a lot of Americans won't seriously consider emigrating...
3) Health Care is going to be a huge issue for boomers. Not only does INZ "frown" upon allowing those over 56 to come in as PR, Americans are NOTORIOUS for the "I want what I want NOW" mentality when it comes to health care (and everything else). Most Americans would not tolerate our system here in NZ. Private health care is expensive but lacks the American "bells and whistles" that we usually crave. (i can go on for hours on this one..i work in healthcare)
Bottom Line...I think the boomers will stay put

[Ngeru]

Bottom Line...I think the boomers will stay put

Mmmn and it's not only about migration. What of the ones that are already here in NZ, born here or otherwise. NZ faces the same issues as most other countries with ageing population. With a lower percentage of people in the working age demographic to pay for the upkeep of the oldies. Stress on the healthcare and pension systems is already being felt and the demographic of 65 pluses is expected to increase twofold in the next thirty years.

I think ultimately we must all personally manage any expectations of drawing our pensions at the age of 65.

[Mamee & Co]

Well, speaking as a Baby Boomer..(just) we have just migrated. I fully expect not to be entering the retirement phase of my life for at least 21-24 years now. I think most economies may do this to prevent the burden of the elderly population, plus that fact that many are now fitter in their old age.

Perhaps the earlier Baby Boomers just approaching retirement are richer, but the later ones have been squeezed in many ways, particularly in the latest recession. I do not think that they create a glass ceiling nor will they sustain or increase economies. Many face pension shortfalls due to change in schemes, lack of savings, poor returns etc. in the last ten years.

In these respects I view NZ as being no different to any first world economy.

[JandM]

I don't see why anyone would think that, given your start date for being a Baby Boomer, their (our!) retirement would only be about to strike in 2011. A lot of us are pensioners now, already living on whatever arrangements we have in place, set up during our working lives.

M and I wouldn't be able to get admission to live in NZ if it weren't for being sponsored by our already resident son, as we are over the age for Skilled Migrant (although I may do some work when we get there). This will be the same for any seniors from overseas, unless they have enough money to come in as an investor or on a business visa. So I don't quite see how our generation, from whatever country, are likely to upset the NZ system - there won't be many of us, and we'll be taxed on our income, however much it is and from where. The system is restricted, careful and slow.

[Kewlest]

Thank you for the input. This was not an attack on Boomers. My question is the result of an article read. I hope I did not offend anyone, as that was far from my purpose. I just wanted to know how others felt.