2019_05_07 — “Demographics”

Demographics

  • In 2019, baby boomers will be between the ages of 55 and 73
  • The U.S. has 328 million people (according to the U.S. Census Bureau)
  • Americans 65-and-older are projected to double from 51 million today (according to the CIA World Factbook) to 100 million by 2060
  • By 2060, the 65-and-older age group’s share of the total population will be nearly 24 percent
  • Full memory care facilities for those with dementia, memory loss, or Alzheimer’s that need assistance with all daily living needs
  • Hospice services are often though of for those that are terminally or chronically ill, but patients can move in and out of hospice for years depending on their condition. Additionally, a hospice can be either a residence that provides comforting services and therapy, or a service that visits one’s assisted living facility or homer
  • Nursing homes or skilled nursing facilities (SNIF) for those with sever or debilitating illnesses who need 24-hour supervised care; a temporary stay in a SNIF is also a common safeguard in-between checking out of a hospital and readmission to one’s permanent residence
  • Assisted living facilities that provide basic room and board for the elderly; residents receive assistance with daily activities such as bathing, grooming, medication, and memory care services
  • Senior living campuses (one or more buildings) combine skilled nursing beds with an independent and/or assisted living facility
  • Residential care homes provide some assistance with daily activities but are less costly and less staffed than an assisted living facility
  • Independent living facilities are residential units specifically designed for active senior adults and elderly needs, often providing coordinated activities, transportation services, and on-site areas for socializing
  • Entrance fee communities, also known as continuing care retirement communities (CCRCs), often include a combination of an independent living facility, an assisted living facility, detached homes/cottages, and a skilled nursing facility on one campus; thus there is no need to relocate as one ages and needs change
  • Age restricted or retirement communities are 55 and over housing or apartment facilities where at least one resident in each unit has to be 55 or older. Often these facilities have no special care services other than arranged social activities and areas. It is not uncommon for people to first enter a 55+ community when they are in their 70s
  • Adult day-care facilities for short-term daily care
  • Aging in place, where a senior continues to live in their own home with the aid of in-home caregivers or family
  • Respite care, in home short-term care to fill a temporary need

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Avid traveler and art fan, also Partner & Chief Investment Officer @Running Point Capital, a multifamily office and ultra high-net-worth money-management firm

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Michael Ashley Schulman

Michael Ashley Schulman

Avid traveler and art fan, also Partner & Chief Investment Officer @Running Point Capital, a multifamily office and ultra high-net-worth money-management firm

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