Facts of Life

Information About Elder Citizens in St. Cloud
  • Minnesota Seniors now exceed 231,000 and growing.
  • St. Cloud has the fastest growing senior population in Minnesota.
  • Surveys show that the 55 to 64 year old age group is the single most important in the country today, in terms of capital expenditures, exceeding the total population average by nearly 0.25.
  • 24.6 million-plus men and women are employed above the age of 65.
  • Since 1980, an average of 200,000 people a month celebrated their 50th birthday in the U.S.
  • One-third of the U.S. population is now older than 50.
  • Minnesota's elderly population will double by 2012.
  • Minnesota's MSA for St. Cloud is greater than for the state.
  • 2011 is the year that the oldest "boomers" turn 65.
  • Job growth in Central Minnesota will be largest in health care, health care practitioners, community and social services, education, and computer-related industries.
  • "Baby-Boomers" born between 1946 and 1964 are the largest generation in American history - 76 million strong. They will live longer than any previous generation.
  • "Baby-Boomers" turned 55 in the year 2000, 60 in 2005, 65 in 2010.
  • Nationwide, the older than 50 population is expected to increase by 67.7%.
  • More people are age 65 than are in Elementary and High School.
  • One in 4 55-plus seniors belong to a fitness center.
  • 175,000 "young elders" turn 65 every month in the U.S.
  • Seniors are migrating to the St. Cloud area for quality health care, transportation, recreation, housing, and shopping.
  • 50-plus account for 80% of personal wealth in financial centers.
  • 41% of all new cars and 48% of luxury cars are bought by 50-plus drivers.
  • 79% of all homes are owned by 50-plus adults. 67% are all mortgage free.
  • 80% of wider luxury travel is purchased by 50-plus adults.
  • More and more retailers are celebrating "Senior Discount Day."
  • There are more than 70,000 centenarians in the U.S. and increasing.
  • There are 30 million unmarried adults over 50 now in the U.S.
  • 534,000 (29%) of Minnesota's Baby Boomers will not have adequate retirement income to support their health and long-term care costs, and are at very high risk of ending up on the state Medicaid program.
  • The average life expectancy of Minnesotans in 2000 was 79.1 years. This was an increase of 1.3 years from 1990 figures. In 2000, persons reaching age 65 in Minnesota had an average life expectancy of an additional 20 years for women and 17 years for men. For those reaching 80 years of age, women could expect another 9.6 years while men at age 80 could expect another 7.7 years.
  • According to the Census 2000 Summary File, the Central Minnesota area's senior population (age 65-plus) is expected to increase from approximately 74,000 in 2000 to 90,000 in 2010 to 172,000 in 2030. This means that today's 65-plus population makes up about 12% of the overall population and by 2030 that percentage swells to nearly 20%.
  • Within 25 years: 172,554 people in the region will be 65-plus, nearly 1 in 5 people will be 65-plus, 22,760 people in the region will be 85-plus, the 85-plus population will double, and approximately 0.5 of the 85-plus population will need long-term care.
References
  • Minnesota Planning Book - Mary Edwards
  • U.S. Census Bureau
  • U.S. Bureau of Labor Statistics
  • Minnesota Demographers Office
  • Central Minnesota Council on Aging
  • Savings and Loan Foundation
  • Woods and Poole Research
  • AARP Publication, "Profile of Older Americans"