Tuesday, November 11, 2014 Cleveland seniors are creating new wealth -- and facing new challenges With Cleveland's median age going from 37 to 41 this century, Nancy LeaMond of AARP is looking forward to the coming of the "Longevity Economy" by WKSU's KABIR BHATIA
Reporter Kabir Bhatia
Nancy LeaMond with AARP says Ohio's graying population is actually creating new jobs -- and new challenges -- in Northeast Ohio
Courtesy of Cleveland City Club
An expert on aging says seniors in Northeast Ohio are actually creating jobs and wealth in the nation’s 13th “grayest” state. WKSU’s Kabir Bhatia reports.
Cleveland seniors are creating new wealth -- and facing new challengesOther options: MP3 Download(0:56)
Since 2000, Cleveland’s median age has jumped from 37 to 41, one of the fastest aging populations in the country. But that’s creating a new “longevity economy” according Nancy LeaMond with AARP. She told the Cleveland City Club earlier this week that baby boomers are actually driving growth in healthcare, and are also the fastest-growing segment of entrepreneurs.
“As a group, the over-50 crowd controls nearly 80 percent of U.S. net worth. And research by Oxford Economics shows that Ohioans over the age of 50 contribute to the economy in an outsized proportion to their share of the population.”
LeaMond does acknowledge there are still challenges for Ohio’s seniors, with more than half of people over 65 living solely on Social Security. She also says public transportation will need to adapt to be accessible for people of all ages.
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