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Some Facts About Aging
Will Boomers Age in Place?

 My thesis literature research has taken me through many topics related to aging in place. The conclusion is pretty simple -- most people avoid facing their own aging until it is a crisis situation. Perhaps less than 15% plan for aging in place and do the necessary home modifications and financial planning that will help them stay in their homes as long as possible, hopefully until the end. Did you know:

 

  • Half of Americans who reach age 85 will have dementia . Your odds of developing dementia double every five years after age 65.

 

  • If you retire at age 65, a rule of thumb is that you should have half a million dollars in savings plus Social Security in order to have enough assets for the rest of your life. But the average American has only around $130,000 of assets at retirement. With 40% of older Americans being single, who is going to support that person?

 

  • One of the most important things older adults can do for themselves is to practice fall prevention.

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