Introduction: Aging in America
By 2030 every Baby Boomer will be over 65, and will make up 21 percent of the population. And by 2060, almost 25 percent of Americans will be 65 and older. The aging population will have many far-reaching implications for American society, and how to care for older citizens is one of the most important to plan for and consider now.
Until recently, senior citizens would typically go into an assisted living facility when they became too infirm to care for themselves or an aging partner. But there’s a growing trend for older Americans to stay in their homes throughout the aging process, known as “aging in place.”
There are various reasons for this trend: many people want to stay independent for as long as possible, remain near friends, and stay close to their community. As assisted living costs mount, it can also make financial sense to remain at home as long as possible to delay those costs and save for future health care needs. The Genworth Cost of Care Survey 2018 says that the national median cost for assisted living is $48,000 a year.
Not only does aging in place tend to cost less than assisted living, it’s more…