THE AGING OF AMERICA

The Evolution of the Aging Population

BY JENNIFER N. BROCK

In the not-so-distant past, senior citizens often disappeared from the mainstream activities of society.

Businesses did not consider them a viable demographic market, community organizations labeled them recipients rather than contributors, and when they were included in commercials, movies or news segments, they were portrayed as unhealthy, unproductive and uninvolved: a burden on the economy and the younger generations.

The tide has turned, however, and the image of the feeble and fragile senior is quickly being replaced. Seniors can no longer be ignored, and in an ironic twist, they have become the future concern of corporate America. In contrast to a traditional focus on the younger generations, the marketplace is scrambling to address the needs and concerns of its newest discovery: the aging population. With more financial resources and an increasing awareness of their power as consumers, the seniors of today are redefining the "golden years."

The issues facing today's seniors are not dramatically different from those of the past. However, they are definitely dealt with in different ways. Health care and financial security continue to top the list of seniors' concerns. The difference is their active rather than passive involvement in these areas. Rather than accepting what is handed to them, seniors have learned of their importance to government agencies, health care organizations and financial institutions. And armed with this knowledge, they are no longer willing to sit idly by - they are questioning policies, making decisions, enriching their lives and demanding attention.

The aging of America promises to affect all areas of society, but one area already feeling the influence of the senior population is the economy. According to George Moschis, director of Georgia State's Center for Mature Consumer Studies, "the 55-plus age group controls more than three-fourths of this country's wealth and the 65-plus group has twice as much per capita income as the average baby boomer." These groups use their financial resources to remain physically and mentally active: vacationing, trying new hobbies, exercising, continuing their education and purchasing items such as computers.

One of the most striking characteristics of this senior population is the broad range of ages and lifestyles it encompasses. In 1996, the baby boomer generation of approximately 78 million began turning 50 at the rate of 300,000 a month. This has had a phenomenal impact on the senior population, which now includes people whose lives were influenced by everything from the Great Depression to the civil rights movement, and whose ages range from 50 to over 100. In an unprecedented paradigm shift, both parents and their children are now members of the senior population.

The combination of financial success and a wide age span creates disparity within the senior population. While many are already retired and reaping the benefits of comfortable pensions, health care plans and investments that have doubled in value, the younger end of the spectrum continues to plan and save for retirement.

Life expectancy at the turn of the century was approximately 46 years; today it is approximately 76 years. The number of citizens over age 85 will double by 2030, and by 2050, 40 percent of the population will be older than 50. This means that for the first time in history, seniors will outnumber children and youth. Initially, it seems that this would create a huge burden on society as it faces a majority of members who traditionally require care and are heavily dependent on others.

That may have been the case with previous generations, but this is the new senior population. Looking at this group's profile, it's easy to wonder if they won't be taking care of the younger generations and society's responsibilities instead of the opposite scenario. Today's older Americans have not only experienced some of the most seminal events in history, they continue to be involved in this country's activities. Many commit the free time found in retirement to volunteer opportunities, and some have found jobs to keep them busy.

The senior population shows no signs of slowing down or decreasing in size. It is nearly impossible to clearly define or label such a diverse group of people, but diversity is one of their greatest assests and strengths. They have the potential to be as great an influence on the future of America as this country's past was on them.