Hawaii boomers not
your average bunch

In many respects, but not all,
their attributes could be the
envy of boomers nationwide

Few saving for retirement

By Anthony Sommer
Star-Bulletin

The typical baby boomer in Hawaii is an Asian or Pacific Islander with a high school degree who married around age 30 and is living in a family household, according to a new study issued by the state Executive Office on Aging.

The report, entitled "Baby Boomer Data Hawaii 2000," does not contain any new studies but is a landmark compilation of many existing collections of data on people in Hawaii who were born between 1946 and 1964.

It shows the typical Hawaii boomer has a family income of about $40,000, wears seat belts, does not smoke or drink and is not overweight. He or she is most likely to die of cancer, heart disease or in an accident.

Most Hawaii boomers do not own a home, their parents are still living, and they expect to inherit property or money.

No data on savings for retirement by Hawaii boomers are available, but nationally only 42 percent of boomers save money regularly, and only 44 percent are participating in a pension plan.

Here is a more detailed look:

Education: Among Hawaii baby boomers, 91 percent have high school degrees, compared with 85 percent for the United States. Also among Hawaii boomers, 27 percent hold a bachelor's degree or higher, while the figure for the United States as a whole is 25 percent.

Marriage and family: In 1990, 62 percent of Hawaii baby boomers were married, compared with 50 percent for the United States as a whole, but Hawaii boomers had higher rates of divorce: 4.6 divorces per 1,000 population vs. the national average of 4.4.

Mobility: In 1990, 37.5 percent of Hawaii boomers moved to another state, compared with 21 percent of boomers nationwide.

Financial security: In 1990, 57 percent of boomers nationwide owned their own homes. In Hawaii the figure was only 41 percent.

Health habits: In 1997, Hawaii boomers smoked less, were less often overweight and used seat belts more often than their counterparts on the mainland. But 17 percent of Hawaii boomers reported acute drinking problems vs. 15 percent nationwide.

Life expectancy: Good news for Hawaii boomers is residents have among the highest life expectancy in the United States. The figures, calculated in 1990, showed the average Hawaii resident will live to age 79, while the national average is 75.

Chinese in Hawaii have the longest life expectancy, at 83 years, followed by Japanese, at 82 years. Hawaiians have the lowest life expectancy, at 74 years.

By gender, the average woman living in Hawaii will live to age 82, compared with the national average of 79. The average man in Hawaii will live to age 76 vs. 72 nationally.

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But like most
boomers, few have
retirement savings

This could cause many to move
to where the cost of living is cheaper

By Anthony Sommer
Star-Bulletin

"Baby boomers in Hawaii and nationwide are not preparing for retirement, and the economic impact on that generation is going to be pretty horrendous," said Marilyn Seely, director of the state Executive Office on Aging.

Her agency has just released a new compilation of studies, titled "Baby Boomer Data 2000," covering state residents born between 1946 and 1964.

It finds Hawaii boomers will live longer, are better educated, have fewer children, have higher marriage and divorce rates, and smoke and eat less but drink more than their mainland counterparts.

It also shows boomers everywhere are not saving nearly enough for retirement.

"Many boomers have no plans to retire and take the attitude they're going to work until they drop," Seely said. "But there will come a time when they are no longer able to work."

Seely said it is likely boomers will be able to put off retirement if they so choose. Economic forecasts show a major labor shortage in Hawaii at just about the time the state's boomers (the oldest turn 55 this year) hit normal retirement age.

As they retire, a large number of boomers will move to the mainland where the cost of living is considerably cheaper. Many will join family members already living on the mainland.

"The same thing happened to many military retirees when the housing boom hit in the 1980s and they could no longer afford to live here," said Seely, who is married to a retired military officer.

She noted that the retired military community on Oahu is small, compared with areas around most major military bases. But many will stay and are likely to become a major political force in the future, as retirees already are in Florida and Arizona, she said.

Seely predicted pressure for social services to seniors both from the boomers and their children who must care for them.

"Just providing transportation to the elderly - getting them to the grocery store - is going to be an enormous expense as the boomers retire," she said. "It hasn't reached critical mass in Hawaii, but it's going to be like the rolling stone that picks up momentum. It's not a pretty picture."