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The Pew Research Center study indicates the typical Boomer believes old age does not begin <br />until age 72. To many Baby Boomers, turning 65 is no longer a gateway to retirement. The <br />Census office indicates 6.5 million people 65 and older were in the labor force in 2009 (55 <br />percent of whom worked full time), with projections indicating by 2018, that number will grow to <br />11.1 million. <br />Though more seniors are working, Census office reports the 2009 median income of <br />households with householders ages 65 and older was $31,354, 37 percent lower than the <br />corresponding median for all households, and in 2009 the poverty rate was 8.9 percent for <br />people ages 65 and older. The qualifying age to receive full Social Security retirement benefits <br />has been incrementally increasing since 1998 and will reach age 67 by 2020. <br />The average age of the workforce has slowly risen and is projected to continue rising. This <br />increase in workers' age is attributed to overall health of the older population, the change in <br />eligibility in Social Security retirement benefits, general economic climate, need for health <br />insurance and the availability and design of employer- sponsored benefits, which typically <br />transfers greater responsibility to the retiree. <br />There are some barriers that keep older adults out of the work force. Those can include <br />reduced employment opportunities, decreased training participation, increased discrimination, <br />increased disparities in health and more challenging workplace conditions. <br />The social structure of families has changed. The Census office also reports more and more <br />grandparents find themselves in the role of caregivers, with 2.7 million grandparents <br />responsible for the basic needs of one or more grandchildren under 18. The preponderance of <br />multi - generational homes is on the rise, with Census data reporting approximately 16.7 percent <br />of the population live in a house with at least two adult generations under one roof. <br />There is a disparity when it comes to access to health care. A 1998 survey by the Bureau of <br />Labor Statistics found that elderly households making less than $40,000 spend between 13.1 <br />to 26.8 percent of their income on health, whereas elderly households making more than <br />$40,000 spend between 4.6 and 8.2 percent of their income on health. <br />The cost of advanced health care is on the rise. A 2012 MetLife Mature Market Institute <br />Survey's key findings show that in the Charlotte area, the average monthly base rate in an <br />assisted living facility is $3,770, the average daily rate of a semi - private room in a nursing <br />home is $215, the average daily rate for adult day care is $58 and the average hourly rate for <br />home health aides is $19. <br />HealthyPeople.gov reports that more than 37 million people, 60 percent of Baby Boomers, will <br />manage more than one chronic condition by 2030. Early prevention and physical activity can <br />help prevent such declines. Unfortunately, less than 20 percent of older adults engage in the <br />recommended 150 minutes a week of physical activity and even fewer do strength exercises. <br />3.17.14 DRAFT Cabarrus County Aging Strategic Plan <br />Attachment number 1 <br />F -5 Page 94 <br />