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The Baby Boomers and Beyond: Understanding the Needs of the Aging Population

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I N FO R M AT I O N S ES S I O N CO N T E N T

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1

DEMOGRAPHICS OF THE S ENIOR P O P U L AT I O N

2

S ENIORS’ NEEDS

3

C O M M U N I C AT I O N T I P S

4

I N T E R G E N E R AT I O N A L P L A N N I N G

5

TOOLKITS


S TAT E O F O U R H E A LT H C A R E S Y S T E M

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Financial Legal

Emotional

Practical

Physical

Cognitive

Insurance

Social

Spiritual End of Life

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C OST

OF

H OUSING - M ONTREAL Retirement Communities

$1,200

$4,000 Assisted Living

$1,500

$2,400

Full Care – Public – co-pay by client

$1,000

$1,600 Full Care - Private

$3,400

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$6,500 +


D EMENTIA Severe impairment or loss of intellectual capacity and personality integration, due to the loss of or damage to neurons in the brain. It will affect one’s memory, judgment, decision making and relationship with others. Aphasia

Apraxia

Agnosia

Executive Functioning

M EMORY I M PA I R M E N T

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QUICK REVIEW Housing and the maintenance of the home environment is expensive and unpredictable. Decision making, judgment and comprehension can be impaired. Physical health can be costly and government support may not provide for all needs.

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QUICK REVIEW Legal protection through prevention is key to financial security. Mental health can influence engagement and decision making. A person’s spiritual connection and grief process can influence decision making and determine values .

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L ONG T ERM S USTAINABILITY N UMBER OF PERSONS 1 5 - 6 4 YEARS FOR EACH PERSON 6 5 + YEARS 9

Low growth

8

Medium growth

7

High growth

6

By 2056 only 2.2 working persons for each person 65+

5 4 3

Potentially less people entering the workforce

2 1

0 1956

1976

2010

2026

2056

S TAT I S T I C S C A N A D A , “ C A N A D I A N D E M O G R A P H I C S

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AT A

G L AN C E ”, J AN UARY 2 0 0 8


U NPREDIC TABLE C OSTS - H IGH L EVEL C ASE S CENARIO Services required

Covered by Govn’t

Hours paid by client

Meals

4

0

4

$17.38

$278.08

Personal care

8

3

5

$17.38

$347.60

Skilled nursing

2

1

1

$42.50

$170.00

Laundry House cleaning

2.5

0

2.5

$16.80

$168.00

Total per month

$4,231.12

RBC, “Long Term Care in Quebec”, 2009

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Cost to client Monthly cost per hour to client


I NSURANCE N EEDS

Long Term Care

Critical Illness

Health

Disability

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Life Insurance

Mortgage

Travel


QUICK REVIEW Longer retirement, reduced governmental support and higher costs for living. Living benefits insurance cannot be ignored for long term security.

Consideration of ALL aspects of aging must be considered.

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QUICK REVIEW Rid the elephant from the room Consider barriers and outside influences on your communication and relationship.

Consider alternative ways to introduce topics of importance.

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I NTERGENERATIONAL P LANNING

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QUICK REVIEW

Parents and children will face this challenge Working together now reduces crises Involving others will help you and your family be prepared

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W HAT DO I DO NOW ? Process

Organize Prepare

Values

Estate Planning

Family

Needs

Toolkits

Advisor

Legal affairs

Legal professionals

Insurance ericksonresource.com

Share


S TEPHANIE E RICKSON , MSW, PSW STEPHANIE @ ERICKSONRESOURCE . COM WWW. ERICKSONRESOURCE . COM 514-795-7377

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