As move along in another year, we are reminded we are a year older, and one of the largest issues we will face in 2024 and beyond is an aging population.
Our state demographer says that by 2028 one in five North Carolinians will be 65 or older. By 2031 there will be more adults 65 and older than children 17 or younger. North Carolina, like most states, is unprepared to deal with these numbers or their needs.
Baby Boomers, who have impacted every decade since their birth, are the group entering the over-65 demographic. Most never thought they would get old. Data suggests they fear dying broke. Even with a 401(k), IRA, some type of pension or Social Security they worry about how they can afford to live into their 80s or 90s. And rightly so.
A century or so ago it was common to find multi-generations living in the same house, but those days are long gone. Children moved away from their homeplace to different cities. Even those who stayed nearby consist of two-income adults, so they cannot or will not be able to house and care for parents, especially since they are living longer than previous generations. The options for care now largely fall into four levels of care: in-home care, adult daycare, assisted living and nursing homes.