The 2010 census results show that the over 65 age group grew 15.1 percent
over the past 10 years.
The increase was even more dramatic in some of the over 65 subgroups. For
instance, the age 65-69 group increased by 30.4%, the age 85-94 group
grew by 29.9%, and the over age 100 group increased by 5.8%. The only
subgroup to lose ground was the age 75-79 group which decreased by 1.3
%. However, the decrease was not attributed to an increased mortality
rate in that age group but a decreased birth rate in the early 1930s.
Florida leads the nation with 17.3% of its population in the over age
65 age group.
This increase in longevity means that 50 really could be the new 30 and
planning for long-term care needs to become as routine for people as planning
for retirement. Just as the demise of pension plans shifted primary responsibility
for having sufficient retirement income to individuals, the strained federal
and state budgets and the surge in the over 65 population will mean that
the primary responsibility for having adequate long-term care resources
will also shift to individuals.
As with retirement planning, the earlier you start, the more options you
have. So, if you haven’t thought about how you will pay for your
long-term care needs, today (not tomorrow) is the time to start. Remember,
the first wave of the Baby Boomers just turned 65 this year. America will
probably be even grayer in the 2020 census.