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Sixty is the New Forty
Positive Aging and the Challenge Facing Elder Law Attorneys
By Alex L. Moschella, Esq.
Don't look now, but members of the Baby Boom generation have started turning sixty. But the Boomers are hardly changing into the Geritol set just because of a turn of the calendar page. In fact, these new "sixty-somethings" are acting more like forty year olds.
Still, the stereotypes that exist about aging in our culture are a challenge the Baby Boomers must overcome. They are doing this by embracing the concept of "positive aging."
Chronological age does not measure one's ability to function and maintain an active and engaged lifestyle. Whether they are sixty-plus or eighty-plus, individuals can continue to further their goals and pursuits of self-development. That is the basis of "positive aging."
To accept the idea that "sixty is the new forty" is to realize the Baby Boomer population is facing complex challenges concerning their own personal, financial, and estate planning needs. How do we grow old? How do we plan for and define our retirement goals? How do we pay for long-term care if it becomes necessary?
The legal profession has joined the fight against the stereotype of what constitutes "elderly." One misconception that that must be corrected is that elder laws only apply to an aging population that is incapacitated and on the verge of entering a nursing home. There is no question that attorneys specializing in elder law possess unique skills with which to navigate the maze of regulations governing Medicare, Medicaid, and Social Security. But elder law attorneys also understand the evolving nature and dynamics of the Baby Boomer population. After all, many of us have aged along with our clients!
Baby Boomers are also dealing with the more crisis driven issues and needs of aging parents. Elder law attorneys are called to help Baby Boomers cope with their own issues, while also working to secure a better life for their parents.
This dichotomy of serving both ends of the aging spectrum is one of the greatest challenges facing elder law attorneys. The dynamics of elder law are now part of a continuum of services that begins before retirement and extends until an end of life that may be decades away. The complex nature of how the new sixty-plus generation thinks about their future financial and estate planning needs puts a premium on the skills of elder law attorneys.
Take, for example, retirement planning. Or, rather, the lack of planning. We are the spending generation. Few of us have planned or saved adequately for retirement. Baby Boomers are often two-income families, stretched thin by college tuition and the tapping of home equity to pay for college education and credit consolidation or the purchase of second homes. Add to this the need work longer and retire later in life and the challenge of proper planning grows. Baby Boomers will need more guidance in steering through the murky waters of retirement planning.
There is also a whole new set of concerns relative to housing issues and aging in place. The hopes and aspirations of Baby Boomers are quite different from their parents' generation. Many older Americans, who in the past wished to remain in their homes as they aged, are now eager to consider other housing options.
The challenge for the sixty-plus generation is to continue to break down the barriers towards ageism and create a new definition of "elderly," so that positive aging is embraced and pursued on all levels. An elder law attorney is uniquely equipped to deal with the changing legal needs of Baby Boomers as they grow old - positively.
Alex L. Moschella, Esq. is a partner and elder law attorney at Moschella & Winston, LLP 440 Broadway, Somerville, MA 02145 (617) 776-3300 www.moschellawinston.com.