• (619) 295-5920

Getting Up Close with San Diego Business and the People that Make a Difference in Our Community

What's Trending in Business and Finance



<<Back to Blogs

Aging in Place: Growing Older at Home

 

The U.S. population continues to age, with the baby boomer generation now the largest generation ever. By 2035, one in three heads of households will be someone age65 and older. The American population will have one in five people age 65 or older, an increase of 30 million people over the next thirty years. Not all people in this group have recovered from The Great Recession, leaving them with lower incomes and homeownership rates than previous generations. As our population ages, the demand for affordable housing connected to accessible services will continue to increase, and many will find their own homes the only affordable option.  

90% of homeowners approaching retirement plan to “age in place” in their own homes, according to a 2018survey by AARP. Although survey respondents say they plan to stay in their own homes, only half think they’ll be able to stay until the end of their lives. Other findings:

  • 36% plan to modify their homes to enable them to age in place
  • Bathrooms and entryways are the most likely modifications
  • 32% were willing to share their home with others to stay, 29% said they were not.

Aging in place takes planning

While you never know what your needs may be as you age, the first step is thinking about what help you may need in the future. Do you have health issues now, or does your partner? Will there be a progression of your illness over time requiring special care or modification of your home? Health problems can make it hard for someone to care for themselves as they age.