Charting the future of America's 50+ generation

The demographic landscape of the United States is being reshaped by the significant and growing population of adults aged 50 and older. This group, which includes four generations, is not only expanding in numbers but also in its societal impact.

By 2050, the number of Americans aged 65 and over is projected to increase by 47% from 2022 numbers, highlighting the need for policies and infrastructure that support an aging society. As this population grows, it is also becoming more racially and ethnically diverse, a trend that will continue as younger, more diverse generations enter this age bracket. This demographic shift underscores the importance of a nuanced understanding of the needs and contributions of older adults.

Far from being an economic burden, the 50+ population is a key driver of economic growth and stability. As of 2018, this group contributed an impressive $8.3 trillion to the U.S. economy, a figure that, if it were its own country, would rank as the third-largest economy in the world. Their economic impact is projected to triple to over $28 trillion by 2050. This is fueled by their spending power, as they were responsible for 56 cents of every dollar spent in the U.S. in 2018.

The 50+ cohort also plays a vital role in the workforce, supporting millions of jobs and demonstrating a growing presence in entrepreneurship. However, age discrimination is a significant issue, costing the U.S. economy an estimated $850 billion in 2018 and limiting the potential for even greater economic contributions.