Boomers Aging in Place and the Beacon Hill Village

A Village Aging in Place

There are currently about 35 million people age 65 or older living in the United States. Last year, the leading edge of the population tsunami that is the Baby Boomer generation turned 65. By 2030, the nation’s population of 65 or older will more than double (PDF), reaching 72.1 million people according to the federal Administration on Aging.

The increasing number of elderly Americans means an increasing demand for services, which will strain public resources at all levels. The demand will be great, but it is nothing preparation can’t take care of, and the time to prepare is now. Unfortunately, the economic recovery underway in the U.S. is slow and halting. The consequent lack of tax money means governments will likely be unable to handle the wave of elderly citizens that will soon engulf many communities. Continue reading

The Oldest Generation—Income, Location, Disabilities, and Health Insurance

Last time we introduced a Census Bureau report that describes some characteristics of the oldest segment of our population—those 90 years old or older (90+). The group is small, mostly women, and mostly widowed. Still, about three-quarters of them live in households. Less than one quarter are institutionalized.

The median income in the group was $14,760 (2008 dollars)—that’s annual, per person, personal income. For men, it was $20,133, and for women, it was $13,580. Social Security has become nearly universal among this group: 92.3% of them receive it, and it is about 48%, or almost half, of the median personal income. The rest comes from investments, public assistance, other retirement income, or other sources.

During the same time, the median annual per person income in the US was about $27,500. The 90+ group has a per person income of about half the overall population.

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The Oldest Generation

All of us living in the last half can benefit from a portrait of the oldest among us. We can’t foresee an individual life, but we can guide ourselves more clearly if we know some averages or trends that describe our oldest brothers and sisters.

In November, 2011, the Census Bureau published a new report entitled: “90+ in the United States: 2006-2008,” in which it characterizes this oldest segment of the U.S. population. (PDF here)

The generation 90 and over is small. There were about 1.8 million (mm) people 90 and over during 2006-2008, which was about 0.6% of the total US population. About 1.55mm (88%) are white. Women far outnumber men: there are about 1.3mm women, and about 0.46mm men—almost a 3 to 1 ratio.

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