May 31, 2017

How Technology Helps Baby Boomers Live Longer, Healthier and More Engaged Lives

By United Capital

Every year the number of baby boomers retiring rises, as the youngest are now reaching their 50s. Born without the technology that today’s millennials are native to, this generation of digital immigrants have quickly adopted and adapted to all the ways the internet, computers, and smartphones can enhance their lives.

It’s still surprising for some to learn that baby boomers are also becoming the fastest growing segment of technology consumers. High-tech advancements have spurred on a lifestyle change that baby boomers are embracing. They’ve learned to use technology as a productivity tool, which enables them to live longer, healthier and more engaged lives. Let’s explore how technology is shaping the future of baby boomers.

Technology keeps them connected

Technology today is bringing people closer by offering an easy way to communicate with family, friends, and communities. Gone are the days when people used to send letters and postcards to keep in touch. Smartphones have enabled us to speak directly, and even have video calls with anyone around the world with just at one click. By taking advantage of these tools, parents can feel connected with their children who may be living many miles away.

Helps manage personal health information

With the continuing advancement in healthcare and medicine, people are living longer. But at the same time, age does take a toll on an individual’s cognitive ability, vision, hearing, etc. New platforms and products are being developed to help address these unique challenges. One such product that could have a dramatic impact on a person’s quality of life is the automatic glucose controlling patch. Diabetes is a common issue for seniors and carefully managing it can greatly extend their healthy years.

Apps and wearable technology are also making their way into baby boomers’ lives. More products are being specifically designed now to help seniors independently manage their personal health information, take preventive measures, and boost health and fitness. Smartwatches can prompt boomers to be more active while also monitoring their heart activity. Scheduling medications and tracking their health and wellness helps patients and their doctors to deliver better care. As costs of healthcare remain uncertain, these technologies provide a resource to aid boomers in staying healthy.

Enables them to stay relevant and current

The current technology landscape is evolving at a rapid pace, and constant learning is the only way to stay in tune with the world around us. The internet offers some of the best and most convenient learning sources to retired adults. It provides a wide range of education used for learning new hobbies or staying informed on the latest politics. Technology is helping baby boomers lead fuller lives and allows them to stay involved in activities they find meaningful.

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Allows them to live independently

Technology is enabling older baby boomers to live more independently. They’re able to remain in the comfort of their own home for much longer than previous generations. In the future, we are looking at even more advanced technology that can enable an aging population to live without any assistance from others. Artificial intelligence, advanced robotics, and self-driving vehicles are just some of the inventions that will shape how we all will live in later years.

No matter your generation, deciding where you want to be in retirement and how you want to live is an important part of your financial life management. Planning for the future now looks a great deal different than in decades past, and you need a plan that takes those things into account. Speak to one of our advisers today and see how we are making it possible to live the life you want.

United Capital Financial Advisers, LLC (“United Capital”) is an affiliate of Goldman Sachs & Co. LLC and subsidiary of The Goldman Sachs Group, Inc., a worldwide, full-service investment banking, broker-dealer, asset management, and financial services organization. United Capital does not provide legal, tax, or accounting advice. Clients should obtain their own independent legal, tax, or accounting advice based on their particular circumstances.

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