Consider these stats:
- The average life expectancy of a child born today is 78 years.
- If you and your spouse both reach age 65, one of you should expect to live to age 90.
- The U.S. senior population (65 and older) is expected to increase 40% in the next 5 years.
- 52% of all current senior citizens in the U.S. have a disability.
- For people age 80 or older, the disability rate is 71%.
- Female in the senior population are 11% more likely to have a disability than senior males.
Modern medicine and changes in lifestyle have contributed to the overall increase in life expectancy. However, advances in science will only do so much before we all will need help. Many people do not realize how likely they are to need assistance completing daily activities nor do they understand the expense in acquiring these services.
- more than half the women and about one-third of the men who reach age 65 will spend some time in a nursing home
- seven out of 10 couples can expect at least one partner to use a nursing home after age 65;
- the average cost of a nursing home is about $73,000 per year
- half of all older Americans who live alone will spend themselves into poverty after only 13 weeks in a nursing home
- 56% of couples spend their income down to the poverty level after one spouse has spent six months in a nursing home
- two out of five people 65 and over will need long-term care. Half will stay in a facility six months or less, while the other half will stay an average of two and a half years.
