Single Story House via ElderAuthority

One of the biggest issues facing the elder care (eldercare) industry is that we’re all hanging around longer.  The over-90 age group now numbers almost 2 million – triple the number just 30 years ago.

MONEY AND HEALTH TAKE PRIORITY

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Unfortunately, all is not rosy for many in that age category.  Many have outlived whatever savings they might have put together, and because their incomes were lower during their working years compared to today, pensions and benefits often fail to serve current needs.  Large numbers of that generation are dealing with one or multiple disabilities and chronic health issues, further crimping their low retirement incomes.

On the flip side, the over-90 seniors are redefining what it means to be old as many of them remained very active long after traditional retirement years.  Certainly, they are evidence of what improved nutrition and health care advances are capable of accomplishing.

If we reach age 85, we have a 50/50 chance of getting Alzheimer’s. That’s if you’re white.  The risk factors for Hispanics and African-Americans are nearly triple that of Caucasians. Scary.

GET READY FOR 8.7 MILLION BOOMERS OVER 90

All of these factors create a wide range of elder care issues for not only individuals and families to consider, but governments, as well.  The huge surge of Baby Boomers moving into their autumn years will create even more issues for elder care.

By the time the Boomers start hitting 90, there will be approximately 8.7 million of them, compared to about 1.9 million today.  Back in the year 1911, fewer than 100,000 Americans reached their 90’s.

SENIOR HOUSING

The word driving the assisted living industry today is: Build!

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Most traditional living situations are ill suited for older inhabitants.  The older generation wants to live on one level, include wide doorways and halls (to accommodate wheel chairs or walkers), install raised commodes, have accessible bathing, and require exterior ramping.

Rather than enduring an expensive remodel of the family home, many are going to choose to live in complexes and facilities designed for senior living.  Some are quite spectacular.  There is one here in Dallas where you can transition from one care level to another at the same location, while enjoying 5-star dining and an on-site hair salon that a former First Lady frequents.

CAREER OPPORTUNITIES IN HEALTHCARE

If you are considering a career change, you ought to be looking at healthcare.  There are thousands in jobs that are accessible for nearly any educational background.  Sure, you have to train for them, so it takes a short while to ramp up.  From there you can work anywhere you choose to live and be certain of job security, plus a decent to great income.

PLAN, PLAN, PLAN

The growth in numbers of aging Americans will significantly impact elder care.  Make sure to plan so that it does not negatively impact you.