New Census Bureau numbers forecast that there will be more older people in the United States than previously anticipated.
As Adele Hayutin of the Stanford Center on Longevity points out, the implications are big:
Some of the most important personal decisions that will be affected include choices about work, living arrangements, caregiving for older relatives and financial matters concerning retirement. Policymakers will need to consider how the faster pace of aging further threatens the financial viability of Social Security and Medicare.
The trend means that the financial burder of Social Security and Medicare will fall on a smaller “working-age population.”
Hayutin’s post explains the trends that account for the shift.
- Tip sheet: Using Census data for health reporting