Portrait of an Aging Nation

[Midpack]

Nothing earthshaking, but interesting IMO...

 

[W2R]

Yes, very interesting! The clear presentation really drives the facts home.

For example, 35% of income for those over 65 years old goes to health care (and presumably that percentage will increase as health care costs increase). That is quite a bit.

And yet, median household income for those aged 65 and older is only $26,322. That is per household, not per individual.

I am thinking that the figures showing percentages of elderly women working vs elderly men working probably cannot be projected onto younger generations. I am 60, and I believe that my generation was one of the first in which women more often established working careers outside the home instead of working as a housewife. So, I speculate that percentages of elderly women who work may start approaching analogous percentages for elderly men, in coming years.

 

[Moemg]

I thought it was interesting how many older citizens still live in really cold climates .

 

[Marquette]

33% of men 65-69 work.

Looks like RiT isn't the only guy REWahoo can't get through to.

 

[REWahoo]

33% of men 65-69 work.

Looks like RiT isn't the only guy REWahoo can't get through to.

I wouldn't waste my time on him if he didn't seem like an otherwise rational guy...

 

[ziggy29]

For example, 35% of income for those over 65 years old goes to health care (and presumably that percentage will increase as health care costs increase). That is quite a bit.

I was assuming that this estimate already assumes health care costs continuing to escalate faster than incomes for another 22 years.

 

[W2R]

I was assuming that this estimate already assumes health care costs continuing to escalate faster than incomes for another 22 years.

You're right - - this figure is expected in 2030, and I missed that. Good catch!

 

[Rich_by_the_Bay]

33% of men 65-69 work.
Looks like RiT isn't the only guy REWahoo can't get through to.

Hey - I ain't even 60 .

 

[Marquette]

Hey - I ain't even 60 .

Yet

 

[Charlotte]

I thought it was interesting how many older citizens still live in really cold climates .

That really caught my eye, too. I don't have many theories why that would be... it's so nice here in the south

Charlotte

 

[ziggy29]

That really caught my eye, too. I don't have many theories why that would be... it's so nice here in the south

I'd have some theories, but nothing I am sure about.

Many of the more vibrant job markets are in the sunbelt now. So many younger people are going there for economic opportunities.

And I would also think that there are quite a few elderly in colder climates who can't afford to move. On a board like this, it's easy to lose sight of the fact that there are a pretty large number of our elders who don't have much more than a Social Security check. They can afford neither the cost of moving to a more pleasant climate nor the cost of housing and living in many of those areas.

 

[Rich_by_the_Bay]

Yet

Oh, great. Just what I needed. Another cheerleader.

Get in line behind REW, Nords, Jarhead and a few other misfits. They're just jealous that I get to go to work while all they can do is sit around. OK, maybe they play a little golf and visit wtih the grandkids. Or take a trip in the RV. Maybe surf a little. Sleep in. Get the motorcycle out once in a while. Lie on the beach, take morning walks. Not put up with bean counter drones. Garden.

This bear market has set me back easily another 3 - 5 years.

 

[REWahoo]

This bear market has set me back easily another 3 - 5 years.

Wuss. Real men don't let a couple of bad market days interfere with living their lives.

 

[Midpack]

That really caught my eye, too. I don't have many theories why that would be... it's so nice here in the south

Charlotte

Wonder how it would compare with a COL map of the USA? Just a theory...

 

[Marquette]

Oh, great. Just what I needed. Another cheerleader.

Well, I see it like this... at just 30, I'm the right age to take over reminding you to ER when the rest of them are so deep into retirement that they don't bother to check in here any more. I figure my time will come to carry the torch in another 15-20 years.

 

[Marquette]

I'd have some theories, but nothing I am sure about.

Many of the more vibrant job markets are in the sunbelt now. So many younger people are going there for economic opportunities.

And I would also think that there are quite a few elderly in colder climates who can't afford to move. On a board like this, it's easy to lose sight of the fact that there are a pretty large number of our elders who don't have much more than a Social Security check. They can afford neither the cost of moving to a more pleasant climate nor the cost of housing and living in many of those areas.

Some of the northern states have great health care as well.. and it's not like we're the desolate north. Honestly, if you're used to the seasons, the only really bad part is January-February and then only if you need to be outside on the worst days.

And, if your kids are still here, you might not want to move.

I think it'd be more informative to see a population count by age quartile and trend that over the last 30 years. My hunch is that you'd see a fairly smooth trend in the 50-80 year olds while the southern states would show a much greater growth for the 15-30 year olds. You'd then want to overlay that with where the growth is coming from. It might be inflated for some states if they're experiencing a greater influx of immigrants.

Or, in other words, the core numbers are probably similar but percentages are way different due to changes in youth demographics more than anything.

 

[unclemick]

That really caught my eye, too. I don't have many theories why that would be... it's so nice here in the south

Charlotte

Perhaps some Norwegian widow type fingers have frozen to the mailbox trying to get their dividend checks. .

Shortly off to Tonganoxie Kansas where I don't have to supply a side dish or any fireworks this year - one of those 'rich' railroad retiree's say's bring yer body - I got the grill covered.

Happy 4th everyone!

heh heh heh - My portfolio may have gone up with time in ER - but at heart I'm still a cheap bastard - although I did fill up with 3.84 gas(up from 3.75 earlier this week).

 

[Nords]

So if I manage to live to age 75 then it'll be two girls for every boy, just like the Beachboys promised?

Well, I see it like this... at just 30, I'm the right age to take over reminding you to ER when the rest of them are so deep into retirement that they don't bother to check in here any more. I figure my time will come to carry the torch in another 15-20 years.

We're pulling, you're pushing!

I believe at least 15% of Hawaii's population is already over 65.

And that median household income number is meaningless without the context of median household expenses...

 

[lazygood4nothinbum]

who cares about health care costs. just think how this is going to effect demographics at the disco. old fat hairy guys dancing with their shirts off. this is just dreadful.

 

[unclemick]

who cares about health care costs. just think how this is going to effect demographics at the disco. old fat hairy guys dancing with their shirts off. this is just dreadful.

Hmmm - skip the disco - how far past 65 can I go before before the old age police take away my boom and thunder badge. I did ok at the BBQ watching the kids shoot a few fire works - but the third Kansas fireworks I past on the way back got me - I did keep it under $300 this year and held some discipline - shot half after the ten o clock Kansas City fireworks show on tv.

heh heh heh - If I get too old for Missouri - I can move across the river to Kansas and boost their old age demographics.

 

[chinaco]

Interesting chart Midpack. Thanks

Did everyone see the section on expenses. It shows that they rise when one ages. I suppose that is for healthcare costs or assisted living. I have been reading that discretionary spending decreases. For those with extra funds, it may wind up being a wash. But for those on the edge, I can see how they would struggle.

 

[rs0460a]

I thought it was interesting how many older citizens still live in really cold climates .

I live in the "north" (mid-Atlantic state); I've lived in the south (Florida, Texas).

Maybe it's because I was born/raised "up north", I prefer the change of seasons. As a personal note, I enjoy "lower moderate daytime temps" (50-60's) which are not "normal" below the Mason-Dixon line (as does my DW).

It's a good thing we all have different "preferences" (other than most living less than 100 miles from a coast), or this country would have more problems (population wise).

An additional retirement point? I pay no state/local tax on my retirement income.

Different strokes...

- Ron

 

[Dawg52]

Oh, great. Just what I needed. Another cheerleader.

Get in line behind REW, Nords, Jarhead and a few other misfits. They're just jealous that I get to go to work while all they can do is sit around. OK, maybe they play a little golf and visit wtih the grandkids. Or take a trip in the RV. Maybe surf a little. Sleep in. Get the motorcycle out once in a while. Lie on the beach, take morning walks. Not put up with bean counter drones. Garden.

This bear market has set me back easily another 3 - 5 years.

A little golf? Don't be silly.

 

[BunsGettingFirm]

I wouldn't complain about aging if 40 year women look like her:

http://www.eyespyfilms.com/portrait jpegs/dara_tessa_01.jpg

Oh, and she can swim as well..

Torres, 41, books place in fifth Olympics - CNN.com

 

[Lsbcal]

I'm wondering about some of those figures. For instance, what do they mean by median household income when the majority don't work? A lot of those retirees are living off of SS + savings. We certainly will be when SS kicks in. Our reported income, which would be adjusted gross income I guess, would seriously underestimate how well we live.

LSBCAL