Raging in Place

Gen-x aging resources and community

Tag: economic security

  • Foundation Focuses on Aging Retirement Grants for Gen X

    Foundation Focuses on Aging Retirement Grants for Gen X

    Is anyone else feeling like they blinked, and suddenly retirement is… looming? If you’re part of Generation X, that probably hits a little too close to home. While we’re busy juggling careers, kids, and maybe even aging parents, the topic of retirement can feel like something we’ll get to eventually. But “eventually” has a funny way of sneaking up on you.

    The Retirement Research Foundation (RRF) understands this, and they’re putting their money where our collective mouths are. This Chicago-based foundation, which has awarded over $239 million since 1979, is inviting applications for projects aimed at improving the quality of life for older adults.

    What They’re Looking For

    The RRF is focusing its grantmaking on several key areas, all of which are pretty relevant to us GenXers:

    • Caregiving: Many of us are either providing care or anticipating the need to care for our parents.
    • Housing: Finding suitable and affordable housing as we age is a growing concern.
    • Economic Security in Later Life: This is the big one. Are we really prepared for retirement?
    • Social and Intergenerational Connectedness: Staying engaged and connected as we age is crucial for our well-being.

    They’re open to supporting a variety of initiatives, including advocacy, direct service programs, professional training, research, and efforts to build the capacity of organizations working with older adults. While their priorities are clear, they’ll also consider other aging-related projects.

    Why This Matters to Generation X

    We’re the generation that came of age with 401(k)s instead of pensions, and let’s be honest, many of us haven’t exactly aced the whole retirement savings thing. Studies show a significant percentage of us aren’t confident about our retirement prospects. CBS News reports that nearly half of us feel we’ll need a “miracle” to retire comfortably.

    The National Institute on Retirement Security paints an even bleaker picture, noting that many GenXers have alarmingly low retirement savings. We’re facing a potential “retirement nightmare,” with rising costs, economic uncertainty, and a lack of traditional pension plans.

    What Can We Do?

    While the RRF’s call for projects is aimed at organizations, it highlights the urgent need to address the challenges facing older adults, including us. It’s a reminder to take stock of our own retirement planning, seek professional financial advice, and advocate for policies that support economic security in later life.

    The clock is ticking, Gen X. Let’s make sure we’re ready.

    References

  • Trump Tariffs Expected to Drive Up Healthcare Costs, Disrupt Supply Chains

    Trump Tariffs Expected to Drive Up Healthcare Costs, Disrupt Supply Chains

    President Donald Trump’s recent executive orders imposing tariffs on imported goods are expected to significantly increase costs within the U.S. healthcare industry and disrupt supply chains, according to industry analysts.  

    The tariffs, which include a 10% minimum tariff and broader reciprocal tariffs, are projected to raise the price of medical supplies, pharmaceuticals, and medical devices. An analysis cited by Fierce Healthcare suggests tariffs on Canadian-made drugs alone could add $750 million in costs. Hospitals and clinics may face increased expenses for essential equipment, potentially impacting budgets and patient care quality.  

    Experts predict that hospitals could see operating income levels drop without cost savings or other revenue sources, according to Healthcare Dive.  

    The tariffs also threaten to disrupt the availability of medical supplies and equipment, potentially leading to shortages or delays. Manufacturers may seek suppliers outside of Canada and Mexico, potentially leading to supply shortages. The complex global nature of pharmaceutical supply chains means tariffs could cause significant disruptions.  

    Specific sectors expected to be affected include pharmaceuticals, where prescription drug prices could increase and potential shortages of essential medications could occur; medical devices, where tariffs could lead to increased costs and potential shortages; and personal protective equipment, where costs for items like gloves and masks could increase.  

    Economists predict the tariffs could lead to increased inflation and slowed economic growth, potentially reducing funding for public health programs.  

    Healthcare organizations and industry groups are lobbying for exemptions, particularly for medical devices and pharmaceuticals. Some are considering diversifying suppliers and proactively negotiating with existing ones to mitigate the impact.

  • The Realities of Aging: Insights From the Aging Advisory Group

    The Realities of Aging: Insights From the Aging Advisory Group

    Aging presents complex challenges for many Americans, particularly regarding housing and health care, according to a recent report. The National Alliance to End Homelessness highlighted findings from the Aging Advisory Group, revealing critical issues facing older adults. These insights are relevant to Generation X, which is navigating its own aging process.

    The report emphasizes housing instability, health care access and economic security as primary concerns. A significant number of older adults face homelessness due to limited affordable housing and insufficient income. Many live on fixed incomes, making them vulnerable to economic fluctuations and unexpected medical expenses.

    Health care access is another major issue. As people age, their health care needs increase, but affordable, quality care can be difficult to obtain. The report stresses the need to address these disparities to ensure older adults maintain their well-being.

    Generation X is particularly affected by these challenges. Many are caring for aging parents while planning their own retirement. Uncertainties surrounding Social Security, health care costs and long-term care are pressing concerns. Economic downturns throughout their lives have also created unique challenges for this generation.

    Many also find themselves supporting adult children, creating a “sandwich generation” effect that adds financial strain.

    Addressing these issues requires a multi-faceted approach. Policy changes are needed to increase affordable housing, expand health care access and strengthen social safety nets. A broader societal conversation about the value of aging and the importance of supporting older adults is also necessary.

    Understanding these challenges is crucial to ensuring a dignified and secure future for all older Americans.

  • California’s Master Plan for Aging: 2025 Update

    California’s Master Plan for Aging: 2025 Update

    California is facing a rapidly growing older adult population.

    To address this demographic shift, the state launched the Master Plan for Aging (MPA) in 2021. The MPA is a 10-year plan with a vision for an age- and ability-forward California by 2030. In 2025, the MPA was refreshed with new initiatives and renewed commitments to support older Californians.

    The California Department of Aging (CDA) recently released the Fourth Master Plan for Aging Annual Report and the 2025-26 MPA Initiatives. These documents highlight progress and outline the focus for the next two years. The MPA now includes 81 new initiatives across its five goals: Housing, Health, Inclusion & Equity, Caregiving, and Affording Aging. These initiatives address critical areas like expanding access to affordable senior housing, improving healthcare, supporting family caregivers, and promoting economic security .  

    The 2025-26 initiatives emphasize collaboration with counties to implement the MPA effectively. This includes supporting Area Agencies on Aging (AAAs) and strengthening Adult Protective Services. The MPA is committed to using data to track progress and ensure accountability . The MPA Implementation Tracker, a publicly available database, allows stakeholders to monitor the progress of each initiative.  

    The MPA continues to prioritize five key goals: creating more affordable and accessible housing options, improving the health and well-being of older adults, ensuring that all older adults have equal opportunities to age with dignity, supporting family caregivers, and promoting economic security.

    The MPA is a dynamic plan that evolves with the changing needs of California’s older adults . The 2025 update demonstrates the state’s ongoing commitment to creating a California for All Ages, where older adults can thrive and age with dignity.