Federal forum reports Americans aging well, but g...( vels of education. In 1950 17 percent ...)

Federal forum reports Americans aging well, but gaps remain

vels of education. In 1950, 17 percent of the older population had graduated from high school and only 3 percent had at least a Bachelor's degree. By 2003, 72 percent were high school graduates and 17 percent had at least a Bachelor's degree.

Despite the overall increase in educational attainment among older Americans, substantial educational differences exist among racial and ethnic groups. In 2003, 76 percent of non-Hispanic whites age 65 and over had completed high school. Older Asians also had a high proportion with at least a high school education (70 percent). In contrast, 52 percent of older blacks and 36 percent of older Hispanics had completed high school.

Between 1990 and 2000, the proportion of men age 65 and over who were veterans went up from 54 percent to 65 percent. Although the number of older veterans is projected to decline slightly from 2000 to 2010, it is projected to increase thereafter due to the aging of Vietnam era veterans.

Economics

The trend in median household income of the older population has been positive. Between 1974 and 2002, the median income for households in which the householder was 65 and over increased (in 2002 dollars) from $16,882 to $23,152. Correspondingly, fewer older people are living below the poverty threshold. The percentage of older people living in poverty declined from 35 percent in 1959 to 10 percent in 2002.

Between 1984 and 2001, the median net worth of households headed by people age 65 and over increased by 82 percent (after accounting for inflation). Although the rate of growth has been substantial for both older black and older white households, large differences in wealth continue to exist. In 2001, the median net worth of older white households ($205,000) was five times larger than for older black households ($41,000).

More women age 55-69 are working than ever before. In 2003, about three-fifths of women age

Contact: Jeannine Mjoseth
mjosethj@nia.nih.gov
301-496-1752
NIH/National Institute on Aging
18-Nov-2004

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