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 US 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
Revenue generated by businesses providing services for the elderly and people with disabilities in 2012: $34.4 billion
There were 25,899 businesses that employed 911,331 workers. In 2007, there were 20,433 such establishments, employing 621,545 people and producing $25.3 billion in revenues. Senior citizens centers are among the establishments in this industry. Source: 2012 and 2007 Economic Census Industry Series (NAICS 624120).
Number of full-time, year-round workers 65 and older with earnings in 2013: 4.9 million
This number is up from 1.5 million in 1993. Source: U.S. Census Bureau, Current Population Survey, Historical Income Tables: People, Table P-32
Percent of people age 65 and older who live in homes with computers: 71%
This was in 2013. Additionally, 62.4 percent accessed the Internet through a high-speed Internet connection. Source: U.S. Census Bureau, Computer and Internet Use, Table 2
Percent of people age 65 and older who own their homes: 79.5%
This is as of fourth quarter 2014. Source: U.S. Census Bureau, Current Population Survey/Housing Vacancy Survey, Table 7
Number of people age 100 and older: 53,364
This is according to the 2010 Census. Source: U.S. Census Bureau, Centenarians: 2010
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