According to new reports, the population of America is aging, and this is just the beginning. Recent US Census Bureau statistics show the role the baby boom generation is playing in an aging America, where about 20 percent of the population will be over 65 years old before 2030.
The Baby Boomers Become Seniors
The US Census Bureau shows that baby boomers comprised nearly 15 percent of the US population in 2012. The oldest members of the baby boom generation were born in 1946, meaning they turned 65 in 2011. The youngest, born in 1964, will reach that mark in 2029. An estimated one out of five Americans will be over age 65 within the next 15 years.
Healthy Living Plays a Role
Not only is the population of the United States getting older, but seniors are also aging well. They’re living longer, and a focus on healthier lifestyles means that seniors are staying active and involved longer, too. Today, many health problems aren’t as daunting as they once were. Treatments for common illnesses and disorders such as arthritis and prostate cancer continue to evolve, allowing people to continue a high quality of life for longer. Technological developments such as fall-detecting medical alert devices aid in keeping seniors active and independent.
Effects on the US Economy
Aging America has already had a significant impact on the healthcare sector. The Census Bureau statistics show that healthcare-related industries have grown significantly since the mid-2000s. The growth of the senior population doesn’t just mean the country needs more doctors and nurses, though. The baby boomers have a focus on healthy lifestyles that no previous senior generation has had. This means an increase in demand for gyms that offer senior fitness classes, stores that offer senior cooking classes, and everything in between.
Because many from this generation are living independently longer, there will also be increased demands in the senior living sector. This may include everything from posh retirement communities to luxury senior apartments to ground-floor efficiencies in popular retirement towns. Assisted living and nursing home communities may also experience an increased demand as the baby boomers reach their 80s and 90s.
Thanks to the baby boom generation reaching senior status, the percentage of the US population over age 65 is higher than ever. And the numbers will continue to grow. Aging America and the effects it has on the economy and specific senior-driven sectors will continue for decades to come.