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Planning Effectively for an Aging Minnesota

Learn about the changing demographics in Minnesota and the implications for the community. Explore the opportunities and challenges of an aging population and discover ways to plan effectively for the future.

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Planning Effectively for an Aging Minnesota

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  1. Planning Effectively for an Aging Minnesota May 23, 2017Allison LiuzziWilder Research @AllisonLiuzzi

  2. What is MN Compass? A community indicators project, Minnesota Compass provides a common foundation of information and data that people need to identify, understand, and effectively act on community issues.

  3. The collaborative of foundations behind Minnesota Compass… 3M Foundation Blue Cross and Blue Shield of Minnesota Foundation Boston Scientific Otto Bremer Trust Bush Foundation Greater Twin Cities United Way Initiative Foundation The Jay & Rose Phillips Family Foundation of Minnesota MardagFoundation The McKnight Foundation Community Leadership Fund of The Minneapolis Foundation Northwest Minnesota Initiative Foundation The Saint Paul Foundation Wells Fargo Foundation Minnesota Amherst H. Wilder Foundation

  4. www.mncompass.org We are getting older.

  5. The largestshare of our population is currently… School-aged children 5-17 years Young children 0-4 years Working-age adults 18-64 years Older adults 65+ years

  6. The largestshare of our population is currently… Working-age adults 18-64 years

  7. The secondlargestshare of our population is currently… School-aged children 5-17 years Young children 0-4 years Working-age adults 18-64 years Older adults 65+ years

  8. The secondlargestshare of our population is currently… School-aged children 5-17 years But not for long…

  9. Our older adult population will soon exceed our school-age population about 2020 @MNCompass

  10. 2015 • 36counties where at least 1 in 5 residents are age 65+ @MNCompass

  11. 2020 • 61counties where at least 1 in 5 residents are age 65+ @MNCompass

  12. 2030 • 87 counties where at least 1 in 5 residents are age 65+ @MNCompass

  13. This is unlike anything we’ve seen before @MNCompass

  14. Aging in the context of our shared economic well-being…

  15. 3,100,000jobs in Minnesota in 2024 @MNCompass

  16. 3,400,000adults age 18-64 in Minnesota in 2024 @MNCompass

  17. 3,400,000adults age 18-64 in Minnesota in 2024 @MNCompass

  18. 3,400,000adults age 18-64 in Minnesota in 2024 @MNCompass

  19. 2,700,000adults age 18-64 working in 2024 @MNCompass

  20. Older adults will help address our projected workforce shortage Today… 18% of older adults are working. In 2024, that amounts to… 187,000 older adults working. @MNCompass

  21. Minnesota is home to one of the most engagedand independent older adult populations in the nation. Highestrate of volunteerism among older adults (37%) One of the lowestrates of disability among older adults (31%) www.mncompass.org @MNCompass

  22. Can we keep a good thing going?

  23. Minnesota residents aging in place Older adults are least likely to live below poverty. The vast majority of older adults have health care coverage. Relatively small numbers of older adults experience homelessness. @MNCompass

  24. Minnesota residents aging in place One-third of older adults living in households live alone. One-third of older adult-headed households pay too much for housing. One-third of older adults have at least one disability. @MNCompass

  25. $42,300 • Median income among older adult-headed households in 2015 @MNCompass

  26. Median income of older adult-headed households varies considerably @MNCompass

  27. Our need for informal caregivers is expected to nearly double by 2040 @MNCompass

  28. Assistance provided by caregivers 93% provide companionship 86% help with shopping and other errands 84% provide transportation Source: Wilder Research, Caregiving in context: A study of family, friend, and community caregivers’ networks of support, report and summary.

  29. Thinking ahead: • Opportunities • Living longer and healthier • Ongoing contributions to our shared quality of life • Employment • Wealth • Volunteerism • Leadership @MNCompass

  30. Thinking ahead: • Challenges • Maintaining independence • Increasing need for formal and informal support • Potential worker shortage • Transitions in leadership @MNCompass

  31. Please keep in touch…

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