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Preface
Why is a 77-year-old former midlevel executive, who saved diligently for retirement, now flipping burgers and working at Sam's Club to get by? Can a woman with dementia consent to sex? Why are Germans exporting their elderly parents to Poland?
In early 2013, Bloomberg News mobilized its global resources to identify some of the most difficult and unexplored areas of aging that will increasingly confront Baby Boomers over the next decades. We know that the aging of the earth's population presents challenges, but Bloomberg News wanted to focus on the dilemmas that are receiving little attention now.
The result was a coordinated effort among 20 reporters and editors on three continents. Each of the powerful, memorable narratives tackled an issue with no easy answer and led to an outpouring of response.
In Florida, reporter Carol Hymowitz spent months researching the story of Tom Palome, who did just about everything right in his life—and still has two part-time jobs at age 77 so he can afford to live, not just survive. Her story prompted heated discussion about the failings of our retirement system and the holes in 401(k) plans. (The ages quoted in this book are from 2013.)
Reporter Bryan Gruley decided early in the year that the issue of sex and intimacy was creating new and complicated problems for elderly-care facilities. Finally, after extensive digging and three open-records requests, he found the story in a Coralville, Iowa, nursing facility that was torn apart by a sexual act on Christmas Day in a deeply worrisome hint of future controversies. His story about a hidden subject created widespread response, including a call for action among a group representing doctors for all U.S. elderly-care facilities.
In Japan, reporter Kanoko Matsuyama wrote a heartbreaking story of her own grandmother to reveal the widespread practice of placing feeding tubes into elderly patients, many with dementia. The reaction to her piece was so dramatic that she was invited to chair a panel on the topic at the World Health Organization global conference last December—and she was contacted by a doctor whose own story was equally moving. Thanks to Matsuyama's stories, Japan is beginning to face the issue of end-of-life care.
Reporter David Lynch wrapped up the series by summarizing the broad economic waves rippling through the individual stories. The subjects he surfaces, including “death derivatives,” are uncomfortable and surprising.
At the same time, we offer some ideas on what can be done right away, from micro-actions like talking about end-of-life care at “Death Dinners” to global responses that could include changing immigration policies and tightening regulations on new financial instruments.
We highlighted some of the looming crises so we can at least begin talking about how to approach them. As Leo Bragagnolo, a reader from San Francisco, wrote: “I don't think I've ever written to a reporter before, but I thought your article on Tom Palome was outstanding—not overly negative, not maudlin, but an honest look at what many older Americans are facing.
