The Economic Dynamics and Fiscal Impacts of an Aging Society Kevin E. Cahill, PhD ECONorthwest The Center on Aging & Work at Boston College October 2, 2015 The 10 th Annual Conference of the Oregon Oral Health Coalition Oral Health in the New Age of Aging: Perspectives on Epigenetics, Gerontology, and Chronic Diseases Portland, Oregon

Population Distribution in the U.S. by Age and Gender, 1900 and 2040 Source: U.S. Census Bureau, National Population Projections. Available at:

Oregon Is No Exception: Population Distribution of Oregon by Age and Gender, 2000 and 2030 Source: U.S. Census Bureau, State Population Projections. Available at:

A Demographic Holiday Percent of the U.S. Population Aged 65 or Older, Source: U.S. Census Bureau, National Population Projections. Available at:

It’s Not Just About Demographics – Key Economic Incentives Have Changed as Well  Changes have occurred to each of the three pillars of retirement income: Social Security, private pensions, and savings.  Older Americans on the cusp of retirement today are more exposed to macroeconomic fluctuations than were previous cohorts.

Older Americans are Exposed to Market Forces at a Time When Markets are Volatile The Dow Jones Industrial Average, 1992 – 2015, and four cohorts of HRS respondents, denoted by their first six years of survey participation

Elderly Poverty Rates: From Highest to Lowest (for now) U.S. poverty rates, by age, Source: U.S. Census Bureau (2014). Income and Poverty in the in the United States: 2013: Figure 5. Available at:

Looking Ahead …  How can we maintain our standard of living, and provide quality healthcare for all older Americans, in this new age of retirement?