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Prime Time - Jane Fonda [123]

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save it. This underscores the critical importance of keeping Social Security solvent while also upholding incentives for private pensions. At present, no federal laws mandate that our companies—even our largest international corporations—provide pensions to their employees.4 Worse yet, when workers save for retirement solely through private accounts, many find themselves woefully under budget. Currently, only 60 percent of American workers are saving for retirement, and about half of them have put away only $25,000. Yet IRAs and 401(k)s remain the common alternative for the company pension.5 No matter how retirement savings are to be structured in the future, it must be understood that programs that support retirement security also support economic growth.


LATE-LIFE TECHNOLOGICAL INNOVATIONS

Beyond our spending power, our lifestyle changes have spurred significant technological innovation. According to the Stanford Center on Longevity, a host of mobile text-messaging systems and assistive technologies are being developed to improve personal and public health. High-tech inventions, including multisystem household sensors, motion detectors, and robotics, have been developed to help older people live safely and independently in their homes.

People have long been familiar with household accommodations for the elderly, including bathroom railings, motorized stairlifts, and lever-style door handles. But the most up-to-date technologies use sensitive monitoring systems to provide minute-by-minute information to outside caretakers. Environmental sensors can monitor stove and appliance use and household temperature and can indicate hazards such as high carbon monoxide levels, flooding, or gas leaks. Motion and pressure sensors can track when an older person gets in and out of bed and monitor in the event of a fall. Messages from passive sensors can be relayed to caregivers, who can then decide whether to call on the older person. Door sensors can be used to signal when an older person leaves the home, and location trackers can help pinpoint the location of an older person who is prone to wandering. These advances allow older people to live in their homes longer, even if they have a health condition, mobility problem, or complex medication regimen.6


SENIORS ARE READY AND WILLING TO EMBRACE NEW TECHNOLOGIES

Still, it is important to avoid stereotypes when considering how older people use technology. The majority of individuals entering retirement today are generally comfortable using cellphones, computers, and the Internet. Most are not technophobic. In fact, many aging baby boomers eagerly follow along with new advances in telecommunications and computer science. As a generation that identified with rock and roll and counterculture trends, they likely do not (and will not) identify with overly simplistic products designed for “the elderly.” Technology designers appreciate that the over-fifty generation grew up in entirely different circumstances than their parents did; today’s retirees enjoy experimenting with, learning about, and purchasing technology. Experts predict that baby boomers will embrace available technologies, especially social-networking sites, to reduce their social isolation—for example, sites such as eNeighbors and Microsoft’s Virtual Senior Center, now used in New York City.


WE ARE GENEROUS

Not only do we contribute as consumers, we are by far the biggest charitable donors. Older individuals donate more money to universities, charities, and civic organizations than any other age group. According to the National Philanthropic Trust, by 2055 an estimated $41 trillion will change hands as Americans pass on their accumulated assets to the next generation.7 The Chronicle of Philanthropy has reported that “mature donors” (those born prior to 1946) give the highest amount to charity (an average of $1,066 per year), give to the highest number of different charities, and demonstrate the highest rate of giving (77 percent of these individuals give). Close behind are the baby boomers. Among those born between 1946

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