“America’s age tipping point is approaching — we’re totally unprepared”

“America’s age tipping point is approaching — we’re totally unprepared,” by Joseph Chamie, The Hill


Quote:

“America faces mounting old age challenges as growing numbers of individuals find themselves ill-prepared in terms of financial resources, personal health and social support for their remaining years of life. The number of Americans aged 65 and older has increased to approximately 56 million, or 17 percent of the population, nearly double the 1960 level of 9 percent.  The majority, about 55 percent, are women, and among those 85 years and older, nearly two-thirds are women. In 2030, America will experience a demographic turning point when all baby boomers will be older than 65. That will equal one out of five Americans. Also importantly, by 2034, those older than 65 are expected to outnumber children for the first time in U.S. history.”

 

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

This is serious, but demographics really hit the fan in 2031, when boomers start turning 85. That’s the age at which LTC and health issues and expenses spike.