How did we get so many people of retirement age today?!

Who retires?  Of course, it is OLDER adults.  And, we all know that America is getting older.  Indeed, the percentage of Americans that is 65+ has risen dramatically, from 4% in 1900, to over 13% today.  We often hear and read that “people are living longer.”  So, let me ask you, what does this mean?  Which people are living longer?  Longer than whom?   Longer than when?  And furthermore, why is anyone living longer? In short, why do we have so many older people today?

Most people believe that the change is largely due to modern medicine keeping old people alive longer than was possible decades ago.  This is a misconception.  The truth is that the major increase in the percentage of Americans that is 65+ is the result of two, huge, historically unique events:  (1) epidemiological shift helped babies born in the early 20th century survive in record numbers, then, (2) into this new world of fewer early deaths arrived, coincidentally, this huge generation, the baby boomers, who were handed a clear path to living well into late life.  And THAT is why we now have so many old people today!