We’re getting older – in a big way.
New Census Bureau reports project that the nation’s 65-and-older population will nearly double in size – hitting a total of nearly 83.7 million – by 2050. By then, more than 1 in 5 Americans will be at least 65 years old.
Boomers, who began turning 65 in 2011, are the driving force behind the project shift.
The Census Bureau says that the demographic shift is already fueling growth in health-care-related industries and in retirement-oriented communities across the United States. Its latest population estimates, in fact, show that The Villages – which bills itself as “Florida’s Friendliest Retirement Hometown” – was the nation’s fastest-growing metropolitan area from 2012 to 2013.
America’s 65-plus population is also projected to become substantially more diverse over the next four decades – with a 39.1 percent minority in 2050, up from 20.7 percent in 2012.
And if you’re a boomer (and nearly 1 in 4 Americans is), take note: The baby boom population is projected to drop to 60 million by 2030 and to only 2.4 million by 2060.
In other words, boomers will be going the way of the brontosaurus.
Also of Interest
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- Join AARP: Savings, resources and news for your well-being
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