Older Americans Month: May 2014 Older Americans Month A meeting with the National Council of Senior Citizens resulted in President John F. Kennedy designating May 1963 as Senior Citizens Month, encouraging the nation to pay tribute to older people across the country. In 1980, President Jimmy Carter's proclamation changed the name to Older Americans Month, a time to celebrate those 65 and older through ceremonies, events and public recognition. 43.1 million The number of people who were 65 and older in the United States on July 1, 2012. This group accounted for 13.7 percent of the total population. 92.0 million Projected population of people 65 and older in 2060. People in this age group would comprise just over one in five U.S. residents at that time. Of this number, 18.2 million would be 85 or older. 2.4 million Projected number of baby boomers in 2060. At that time, the youngest baby boomers would be 96 years old. 2056 The year in which, for the first time, the population 65 and older would outnumber people younger than 18 in the U.S. Income and Poverty $33,848 The 2012 median income of households with householders 65 and older, not significantly different from the previous year. 9% The percent of people 65 and older (3.9 million) who were in poverty in 2012. $170,516 Median net worth for householders 65 and older in 2011, down from $203,015 (in 2011 dollars) in 2005. 14.8% Percent supplemental poverty rate for those 65 and older, equating to 6.4 million people. Excluding Social Security would leave the majority of this population (54.7 percent or 23.7 million) in poverty.   Serving Our Nation 9.6 million Estimated number of people 65 and older who were veterans of the armed forces in 2012. 21.3% Labor force participation rate for men 65 and older in 2012, up from 17.6 percent in 1990 and significantly higher than the rate for 4.3 million Number of full-time, year-round workers 65 and older with earnings in 2012, up from 1.3 million in 1992. 82.6% Proportion of people 65 and older in 2013 who had completed high school or higher education. 25.3% Percentage of the population 65 and older in 2013 who had earned a bachelor's degree or higher. 80.7% Percentage of householders 65 and older who owned their homes as of fourth quarter 2013.

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