How many more females than males aged 65 and older will there be in 2025 and 2030? What percentage of the population did females make up in each year? Draw some conclusions regarding this data and the choice of time horizon, 5 years versus 10 years.

As marketers focus on Generation Z and its sizable purchasing power, another generation should not be forgotten: the aging baby boomers. The U.S. 65-and-older population will increase to almost 100 million people by 2060. One reason for this trend is the sheer size of the cohort to begin with—76 million people born between 1946 and 1964. Another major factor is that Americans are living longer. In 1950, the average life span was 68 years, but it is now 78.7 years. And the life-span gap between men and women is decreasing because of reduced smoking rates among men. In addition to longer life spans, families are spreading out—as children embark on careers and start their own families, they are no longer staying close to their hometowns. These factors contribute to a greater need for caregiver support for the elderly. There is already a proliferation of services such as Visiting Angels and A Place for Mom. The number of Americans needing long-term care is expected to double by 2030, reaching 24 million individuals, where costs could reach $2.5 trillion by 2030. The following chart shows the population estimates for the 65-and-over population for 2020, 2025, and 2030:

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Females & Males Females Males 2020 56,051 25,014 31,037 2025 65,227 29,300 35,925 2030 73,137 32,922 40,215