Technology transforming retirement - Baby boomers are the main beneficiary

Dec 24, 2015, 09:00 am

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Source from Connected Living Inc. website

AsiaToday reporter Goh Jin-ah = The baby boomers who are facing retirement ahead will have an unprecedented array of richness due to rapid development of technology.

The US financial media Market Watch hinted on Dec. 20 that the life of baby boomers after retirement will bring expansion of second career, social life, and the "Internet of Things" (IoT) due to technological advances.

First of all, the evolution and innovation of technology allows to produce and lead career for older adults. Recent American Association of Retired Persons (AARP) suggests that nearly four out of 10 baby boomers are planning to work in retirement. Some over-50s report that they plan to work until they drop.

These generations not only do battle the preconceptions of bosses and co-workers about older workers, but they also face a rapidly changing work environment that demands new skills. But they are relatively easier to begin their second career since technology is offering them new options and flexibility.

Telecommuting isn't a new idea, but it's welcomes by retirees who want the freedom to accept whatever opportunities suit them without disrupting their lifestyle. Besides, tablets and smartphones allow them to work more productively.

The peer-to-peer economy can also help retirees. Airbnb and Uber help them earn an income. In fact, Airbnb recently reported that 10% of its hosts are over 60 years old.

Baby boomers can stay connected to friends and family to the fullest with technology. Well being is strongly related to the ability to maintain a social life. Applications such as Skype make it possible to stay connected to friends and family. Connected Living Inc. connects older adults in senior housing with each other and their families. It has signed up more than 60,000 users in 36 states over the past seven years. Senior dating site is also popular among older adults.

The Internet of Things encriches the lives of individuals while reducing harsh physical labor. Instead of losing the energy to tackle household chores or errands, smartphones enable people to run devices in their home by smartphones.

Clearly, the transformative potential of all these technologies is powerful. However, these innovations bring questions of their own.

The services the Internet of Things will provide convenience and raise one's quality of life. However, it's directly related with cost. In order to enjoy such innovative benefits, a significant cost is necessary. The added costs might increase the growing gap between the haves and the have-nots.

In addition, the privacy issues of big data could emerge as one of the serious social problems.

The most important thing to remember is that technology alone won't solve our problems. It will never be able to entirely replace the human touch, or completely remove the normal pains and frustrations of getitng older.

#technology #retirement #baby boomer #Airbnb #Uber 
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