In 2032 – The 55+ workers and retirees will create 50% of the GDP – this will TRANSFORM how we view our older Americans. It will also impact the job market for the 18-35 year-olds… This is a topic we’ll need to address in the next 5 yrs… Some seniors will NEVER be able to stop working – their social security is too minimal.
For some communities, this shift will mean expanding ranges of care as more older adults choose to work — and live at home – longer.
In fact, when Senior Housing News released its list of 2014’s top 10 trends in senior housing, “80 is the new 65” topped the list.
The organization reports that providers across the U.S. are seeing an older resident, from the mid-to-low 80s, join communities in need of higher levels of care than ever before.
The report says, “The senior housing and senior living business community needs to prepare for the growing shift up the age ladder to be better positioned to serve those in the 80+ category and less about just the 50+.”
Despite dwindling savings and a depressed economy, older adults are now responsible for at least $7.1 trillion in annual economic activity, something AARP calls “the longevity economy.”
A recent paper by AARP and Oxford Economics on the longevity economy says, “This population of older workers and retirees represents both a transformative force by itself, expected to account for more than half of U.S. GDP by 2032, and a net national asset — a fast-growing contingent of active, productive people who are working longer and taking the American economy in new directions.”