The University of South Carolina Masters of Gerontology program recently developed an infographic detailing the findings in a United Nations report on elderly life. Not only are Americans living longer, but they are increasingly using computers and paying for care.
Here are some of the key findings:
- In 1950, only 8 percent of Americans were aged 65 or older. By 2050, that percentage is expected to climb to 20%.
- Generally speaking, babies born in 1900 did not live beyond the age of 50. One out of 10 girls born in 2018 will live beyond the age of 100, and one in 20 boys will achieve the same feat.
- American women who are currently 65 can expect to live until age 86.6. Men of the same age can expect to live until age 84.3. Women who reached the age of 65 in 2015 had a one-in-three chance of making it to their 90th Fifty years ago, the chance was just one in four.
- Sixty-five percent of homes where someone aged 65 or older lives report computer ownership, and 58.3% of these same homes use the internet. Technologically-connected seniors tend to live longer due to expanded communication and research access.
- The percentage of those 65 and older who completed high school quadrupled between the years 1950 and 2003. In 1950, just 17% had completed high school. In 2003, 71.5% had graduated high school.
- College-educated seniors have also increased dramatically. In 1950, just 3.4% of this age group held a bachelor’s degree. In 2003, that number had increased to 17.4%.
- Americans aged 65 and over currently have a median annual income over $25,000. As recently as ten years ago, it was $18,000.
- There were nine individuals paying into Social Security for every person receiving it in 1960. Today there are only 4.3 workers for every recipient of Social Security benefits.
- Approximately 50% of American seniors will pay out of pocket for “long-term supports and services”, including nursing care or home-based caregiving services. In 2013, seniors paid $59 billion for such services. As of 2008, only about 10% of those over age 55 had private long-term care insurance.