Growing Older Feeling Younger-3

Expectations vs. Reality

THE UPSIDE OF GETTING OLD
When asked about a wide range of potential benefits of old age, seven-in-ten respondents ages 65 and older say they are enjoying more time with their family. About two-thirds cite more time for hobbies, more financial security and not having to work. About six-in-ten say they get more respect and feel less stress than when they were younger. Just over half cite more time to travel and to do volunteer work.

As seen in the chart, older adults may not experience these "upsides" at quite the prevalence levels that most younger adults expect to enjoy them once they grow old, but their responses nonetheless indicate that the phrase "golden years" is something more than a syrupy greeting card sentiment.
Of all the good things about getting old, the best by far, according to older adults, is being able to spend more time with family members. In response to an open-ended question, 28% of those ages 65 and older say that what they value most about being older is the chance to spend more time with family, and an additional 25% say that above all, they value time with their grandchildren. A distant third on this list is having more financial security, which was cited by 14% of older adults as what they value most about getting older.

PEOPLE ARE LIVING LONGER
These survey findings come at a time when older adults account for record shares of the populations of the United States and most developed countries. Some 39 million Americans, or 13% of the U.S. population, are ages 65 and older -- up from 4% in 1900. The century-long expansion in the share of the world's population that is 65 and older is the product of dramatic advances in medical science and public health as well as steep declines in fertility rates. In this country, the increase has leveled off since 1990, but it will start rising again when the first wave of the nation's 76 million baby boomers turn 65 in 2011. By 2050, according to Pew Research projections, about one-in-five Americans will be over age 65, and about 5% will be ages 85 and older, up from 2% now. These ratios will put the U.S. at mid-century roughly where Japan, Italy and Germany -- the three "oldest" large countries in the world -- are today.

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