Our Aging Population: Some Diverse Facts

In 1980 there were 25.5 million Americans age sixty-five or older. Today nearly 40.2 million Americans are sixty-five years or older. By the year 2050, there will be nearly 88.5 million Americans sixty-five years and older and close to 19 million Americans are eighty-five years and over. Today’s older Americans live on of Social Security benefits, private pensions from employers, personal savings, and social welfare programs. About 40% of the income of people 65 years and older is from Social Security benefits and federal programs, such as Medicare, Medicaid, and Supplemental Security Income (SSI). Social Security benefits are the only source of income for 1/5 of Americans over 65 years old. Aging married couples are happier and more satisfied with their lives than those who were non-married. The American family is changing in form, and these changes may result in diminishing caregiver “kin supply.”