How’s that for a headline? But the stats in a recently released report from Bank of America and Merrill Lynch have been called “mind blowing” because of its unprecedented nature.
“We are living in the midst of the most remarkable demographic transition in history” – Bank of America / Merrill Lynch report
You be the judge.
The report says that for the first time in human history, the number of people over age 65 will eclipse the number of children 5 years of younger. Right now, there are about 900 million people 60+. By 2020, that number is expected to grow to 2.1 billion.
With longer life expectancy and the amount of quality medical care at its peak, maybe it’s no surprise that there will be more of us around past 65 years old. But equally as surprising is the diminishing number of children 5 years or less. They say we’ve already past the age of “peak youth” in society.
The Silver Economy – Global Ageing Primer
Bank of America Merrill Lynch