In 2011, the country hit an important milestone. The first round of Baby Boomers started to turn 65.
Tens of thousands of Baby Boomers will hit 65 between now and 2030. That’s a tremendous shift when you consider there are more than 76.4 million of them. Here’s the ultimate guide to everything you need to know about this generation as it enters its twilight.
America’s Demographics Are Evolving
It’s no surprise that America is experiencing a rapid shift in its demography. A lot of media attention is paid to how the population is becoming increasingly diverse, but not a lot of people are talking about how the country is getting older. Right now 15% of the population is over the age of 65. By 2060, you can expect that to hit 24%.
Older generations are likely to keep working much later than the generation before them. They could choose to be self employed, or continue working a trade job for their livelihood or self worth.
There are a lot of positive changes this generation can expect as they get older. Many now have access to much better care within their local regions. The share of people ‘aging in place’ has increased over the years as useful amenities have expanded. Elders can now opt for home care in Dallas TX or expect better means of transport in the rural Midwest, according to Marcus Gardner, owner of Always Best Care in Dallas.
Life expectancy has also increased. In 1950, the average American could expect to live just about 68 years. Now the life expectancy has been raised to 79 years, due to a drastic reduction in mortality at older ages. In other words, Baby Boomers can expect to live much longer and healthier lives than before.
That’s not all. There’s more good news for elderly couples. The age gap between the genders has sharply declined in recent years. Women, for example, could have expected to outlive their husbands by at least seven years in the 1990s. Now that gap has narrowed to less than five years. Women can still expect to live longer (81.2 years on average), while men can expect to live to the age of 76.4 years. If you have parents, you can rest assured they’ll live together much longer.
Altogether, elders can expect a much better life now with the rise in life expectancy and improvements in care.