What effects will the great transition of the 2030s have?

One of the largest demographic groups are those born between 1950s to 1960 who will start to become 80 throughout the 2030s.

It is thought that this will be a major demographic shift as there will likely be more money going to healthcare and goverment programs such as medcare and social security with a smaller work force. A population contraction or housing sell off which causes people to move to smaller homes and retire may also have economic impacts.

Finally I think about the social political effects as at least in the US all presidents belong to this generation with Barak Obama being the born in 1961 whereas all other living presidents are born in 1946 which is indicative of Boomers having held on to political power for much longer than previous generations in memory.

I assume that there will be interesting parallels which will occur after Millenials age and retire so am curious as to what to expect during the transition period and how things will differ when Millenials reach peak power in 2040.