The world population is getting older, and according to the U.S. Census Bureau, the year 2030 will mark a critical milestone in this demographic shift. Because every individual from the sizable baby boomer generation will be older than 65 at that point, senior citizens will outnumber children for the first time in U.S. history, at 1 in 5 residents.
Although many economists and politicians have worried about the challenges that may come with this major societal shift, there are actually a lot of reasons to be excited about the future – provided that official policy can catch up with the demand for quality senior care. Researchers have found a range of unexpected benefits that could be associated with older populations, and as the world adapts to meet the challenges of an aging world, chances are high that everyone’s quality of life will improve, too.
Here are 7 benefits that may come with an aging population over the next few decades:
- Longer lifespans. The most obvious benefit of an aging population is that more people will enjoy long lifespans, as access to proper housing, food, and healthcare continues to increase across the board. According to the World Health Organization, global life expectancy rose 5.5 years from 2000 to 2016, for the highest jump in over 40 years. Additionally, as shared social goods like public parks, roads, and buildings are modified to account for more senior citizens, there could also be fewer accidents, and a broader understanding of public safety risks.
- Earlier inheritances and retirement dates. While most people wait until after death to pass estates onto their loved ones, a longer lifespan may prompt seniors to pursue earlier inheritances and retirement dates. In turn, this shift could positively benefit the leisure economy and result in a happier, more fulfilled populace.
- Increased educational attainment. Over the years, our educational systems and universities have seen higher enrollment in general, as well as an influx of older citizens who want to learn something new. Because retirees have more time to pursue education, we may start to see a “golden age” of higher learning in 2030 and beyond, with both young and old reaping the benefits of broad educational access.
- Deeper family bonds. In many other cultures, it’s the norm for elderly parents to live at home with their children under the same roof. That tradition has been shown time and again to strengthen family bonds and a sense of common purpose. As more American senior citizens choose to “age in place” with loved ones around, our family structures and individual relationships could be transformed with a new degree of richness.
- Stronger emphasis on experience. With age comes experience, and seniors can bring a wealth of complex and interesting life lessons to any social group they participate in. Whether it’s in our workplaces or our homes, having more seniors around could lead to an increased respect for their unique backgrounds, and a more balanced and diverse approach for society.
- Better quality of life for seniors. From staffing shortages at nursing homes to age discrimination in the workplace, it isn’t always easy for seniors to have the quality of life they deserve today. As more voting citizens turn 65, however, it’s likely that additional legislation will be passed to protect their rights and improve quality of life.
- Improved mentorship for young people. Young, old, or in-between: Everyone benefits from a mentorship relationship. With an aging population, younger people will have the chance to talk with more senior mentors and see things from a whole new perspective, raising their social awareness and increasing their knowledge.
Better Senior Care Services for a Bright Future
Here at Homewatch CareGivers®, our franchise owners understand the many benefits that an aging population can bring to our world, and we believe that it is possible to close some of the gaps in our current care systems today. By providing affordable and top-quality in-home care services for seniors and their families, our owners are able to participate in some of these societal shifts and trends firsthand, and create a sustainable, ethical business for their own future.
Are you interested in a sustainable franchise opportunity in the world of in-home care? Contact us today for more information!