Elderly Population to Triple by 2050

By 2050, 1 is 6 people in the world will be 65 or older, forcing the countries of the world deal with an aging population. The number of senior has jumped an astounding 23 percent in the last decade.

According to studies, the world’s population has been graying for decades due to declining birthrates and an increase in longevity. Italy, Japan, Germany and Monaco have the most senior citizens, with more than 20 percent of their respective populations over 65 years of age.

Here in the United States, residents who are 65 or older represent approximate 13 percent of the overall population, but that number is expected to double in the next 40 years. This raises serious concerns as to how we are going to be able to handle the growth.

“The 2020s for most of the developed world will be an era of fiscal crisis, with a real long-term stagnation in economic growth and ugly political battles over old-age benefits cuts,” said Richard Jackson, director of the Global Aging Initiative at the Washington-based Center for Strategic and International Studies.

For example, at current aging rates, Medicare is projected to become insolvent by 2017.

The nursing home abuse and neglect lawyers at Walton Law Firm LLP represent individuals and families whose loved one has suffered injury or neglect in the nursing home, assisted living, or residential care setting. For a free and confidential consultation call (866) 607-1325.