What was once a demographic ripple has become a full-blown wave — and it’s getting bigger.
According to the U.S. Census Bureau, in 2000, the number of adults age 65 and older was 35 million, or 12.4% of the total population. In 2016, the number of seniors had risen to 49.2 million or 15.2% of the population.
By 2030, the bureau estimates, more than 20% of U.S. residents will have passed their 65th birthdays, and by 2035, that demographic will outnumber children younger than 18 — an unprecedented swing.
What does all this mean?
It means it’s time to prepare — the sooner, the better.
As the Baby Boom generation continues to march into their retirement years — at the rate of 10,000 per day — Americans are living longer than ever. But what that life will entail, post-65, can wildly vary depending on lifestyle preferences, health status, finances, and more.
The questions are myriad. What levels of care are available, and what do they include? How will I pay for all of this, especially if I, or my parents, live well past 80 or 90? How do I approach mom or dad with my concerns that they might not be able to live alone anymore? What’s an estate plan, and what documents do I need to worry about?
It’s a lot to think about, and no single guide can answer all those questions. But hopefully, this special section will sort through some of the confusion and get those conversations started.
View the PDF Flipbook HERE
The 2020 Senior Planning Guide will be inserted into the Aug. 3 issue of BusinessWest issue and the July/August issue of Healthcare News and will also be available online as an interactive flipbook. Sponsorship & advertising opportunities are available.