1. Growing Old Gracefully—and Exponentially
The number of Americans ages 65 and older is projected to more than double to over 98 million by 2060. The 65-and-older age group’s share of the total population will rise to nearly 24% from 15% in 2015. —Population Reference Bureau
2. Medical Spending Is Healthy as a Horse
U.S. health spending is projected to rise 5.3% in 2018, reflecting rising prices of medical goods and services and higher Medicaid costs. —Reuters
3. U.S. Health Care Is Nursing a Shortage
In 2013, about 50% of U.S. health care facilities had a vacancy rate of 5% or greater. That share rose to more than 80% in 2017. —Reuters
4. Employment Is Having a Senior Moment
Many employees work into their later years. About 37% of men and 28% of women ages 65–69 still participate in the labor force. —SeniorAdvisor.com
5. PE Investing in Retirement … Housing, That Is
The senior housing market is attracting substantial investor interest due to several factors, including impressive yields. The seven-year total return on investment for senior housing is 13.64%, considerably higher than that of other major real estate property types. —CBRE
6. Aging in Place, Tech-nically Speaking
According to AARP, almost 90% of seniors would like to stay in their homes as they age. As a result, gerotechnology is growing to allow this population to age in place, including through smart home and wearable tech products. —Washington Post
7. Seniors and the City
In developed countries, the growth in the senior population over the next 15 years will result in a demographic that will account for about 51% of urban consumption growth, representing more than $4 trillion. —McKinsey
This edition of “It’s the Small Things” originally appeared in the July/August 2018 issue of Middle Market Growth. Find it in the MMG archive.
Larry Guthrie was formerly the director of communications and marketing for ACG Global and a regular contributor to Middle Market Growth.