Some say we are in a “retirement crisis.” Recent Federal Reserve data shows that many are ill-prepared to face retirement. But our youth-oriented culture gives minimal face time to older Americans, much less their concerns.
Here are 10 recent statistics from the U.S. Census about the population group we will all, if we’re lucky, join.
Age 65 and older in 2013: 44.7 million
The number of people who were 65 and older in the United States on July 1, 2013. This group accounted for 14.1 percent of the total population. Source: U.S. Census Bureau, Population Estimates
Age 65 and older in 2060: 98.2 million
Projected population. People in this age group would comprise nearly one in four U.S. residents at that time. Of this number, 19.7 million would be 85 or older. Source: U.S. Census Bureau, Population Projections, Table 3
Year that older people will outnumber younger: 2033
For the first time, the population 65 and older would outnumber people younger than 18 in the U.S. Source: U.S. Census Bureau, Population Projections
Median income of age 65 and over households in 2013: $35,611
This is up 3.7 percent from the previous year. Source: U.S. Census Bureau, Income, Poverty, and Health Insurance Coverage in the United States: 2013, Table 1
Percent of age 65 and older people living in poverty in 2013: 9.5%
4.2 million elderly lived in poverty in 2013. Source: U.S. Census Bureau, Income, Poverty, and Health Insurance Coverage in the United States: 2013, Table 3