Experiences Vary for Aging U.S. Population

It’s no secret that the population of older U.S. adults is growing rapidly. Amid that, however, there is a growing amount of disparity. U.S. residents are aging in very different ways. In its newest Profile of Older Americans, the Federal Administration for Community Living displays a very detailed picture of the lives of U.S. residents aged 65 and older. In many ways, the data, which focuses primarily on older Americans in 2022, tells a tale of extremes.

The Profile on Older Americans is an annual summary of critical statistics related to the senior population in the United States. It relies primarily on data gleaned from the U.S. Census Bureau. The Profile illustrates some of the shifting demographics of Americans over the age of 65. It includes key areas such as income, living arrangements, education, and health. The 2023 Profile includes a special section on living in the community.

There are numerous concerns surrounding the rapid growth of the older adult populations as the last of the Baby Boomers begin to reach the age of 65 and as life expectancy continues to increase.

While many older adults are financially secure, live in stable households, and are relatively healthy, others, especially those in their 70s and 80s, lead much more difficult lives. This is partly due to coping with death in the family, declining assets, and increased health and long-term care needs. It’s no secret; the longer you live, the more it costs to keep you healthy and alive. For more affluent and younger older Americans, the problems aren’t so pronounced. However, for lower-income, less educated older Americans, there are likely to be struggles with poor health, higher medical expenses, higher long-term care expenses, and more.

Demographics of older Americans

According to the Profile of Older Americans, in 2022, there were nearly 58 million older adults (32 million women and 26 million men). They represent 17.3 percent of the population. In 2000, there were only about 35 million Americans aged 65 and older. There are nearly 25 million Americans aged 75 and older, and 6 million Americans aged 85 and older.

While life expectancy in the U.S. declined in recent years, older adults lived longer in 2022 than the pandemic year of 2021. Those who turned 65 in 2022 can expect to live another 18.9 years.

The health of older Americans

One-quarter of older Americans assessed their own health as fair or poor. Nearly all were taking at least one prescription medication. The most commonly reported health conditions included high blood pressure, arthritis, and high cholesterol. Nearly half of all older Americans reported living with at least one of the aforementioned conditions. A third of those surveyed reported living with some form of disability. One in five said they had difficulty walking or climbing stairs, one in seven said they had trouble hearing, and 28 percent said that they suffered a fall in the past year. 8 percent reported some form of cognitive limitation.

Talk to a Virginia Beach Elder Law Attorney Today

The Law Office of Angela N. Manz represents the interests of older Americans looking to make the best use of their assets as they age and require more intensive forms of care. Call our Virginia Beach estate planning lawyers today to schedule an appointment, and we can begin discussing your best next moves right away.

Source:

howardgleckman.com/2024/06/05/yes-americans-are-aging-but-their-experiences-are-very-different/