Seniors Wealthier Than Past Generations in The US

Government researchers claim that Senior Citizen’s have more money and are expected to live far longer than prior generations.They said the average net worth of older Americans( 65 years of age and older) has increased almost 80 percent over the past 20 years. They also found that those who reach the age of 65 are now expected to live an average of 19 more years, or seven years longer than people who had reached age 65 in the year 1900.

The findings are part a report released on Thursday called Older Americans 2008.The report forecasts that by 2030, the number of Americans over the age of 65 will nearly double to 71.5 million, or 20 percent of the U.S. population, up from 12 percent, or 37 million people, in 2006.

It also found that senior citizens in the United States are far better educated than prior generations. In 2007, 76 percent of those over 65 had high school diplomas, and at least 19 percent had a bachelor’s degree, up from 24 percent with high school diplomas in 1965 and just 5 percent with bachelor’s degrees.

Senior Citizens like many other groups, are getting fatter, the researchers said. In the 2005-2006 study period, 37 percent of women aged 65 to 74 were obese, and 24 percent of women age 75 and over were obese. This is up from the 1988-1994 study period, when 27 percent of women age 65 to 74 and 19 percent of women age 75 and over were obese.

Source: reuters.com