Good News About Aging Boomers

An outdated image of aging is the source of the unfounded alarm about aging boomers said Richard Suzman, from the National Institute on Aging.

Andrew Ferguson takes a look at the recent US Census Bureau report called Dramatic Changes in U.S. Aging in its press release.

Older people (those over 65) in the next generation will be healthier. Twenty-five years ago, more than one of four old people suffered from a chronic physical disability. Now the figure is fewer than one of five. The proportion of old people in nursing homes has declined.

Older people are richer than before. In 1959, 35 percent lived in poverty. Now it's 10 percent. Their per capita net worth, even apart from Social Security payments, is rising.

And older people are better educated. By 2030, more than 25 percent of the senior population will have a college degree. Higher levels of education usually signify a healthier population enjoying a higher standard of living.
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The picture the Census Bureau presents is of an aging generation that will be working (and paying taxes) longer and placing fewer and less costly demands on the health care and pension systems than we expected.