WASHINGTON, D.C. (U.S. Census Bureau) – The face of aging in the United States is changing dramatically and rapidly, according to a new report from the U.S. Census Bureau. Today's older Americans are very different from their predecessors, living longer, having lower rates of disability, achieving higher levels of education and less often living in poverty. And the baby boomers, the first of whom are celebrating their 60th birthdays in 2006, promise to redefine further what it means to grow older in America.

The U.S. population age 65 and over is expected to double within the next 25 years. By 2030, almost one out of five Americans, or about 72 million people, will be 65 years or older. The age group 85 and older is now the fastest growing segment of the U.S. population.

The financial circumstances of older people have improved dramatically, although there are wide variations in income and wealth. The proportion of people aged 65 and older in poverty decreased from 35 percent in 1959 to 10 percent in 2003, mostly attributed to the support of Social Security. In 2000, the poorest fifth of senior households had a net worth of $3,500 or about $44,000 including home equity, and the wealthiest had approximately $329,000 or about $450,000 including home equity.

For more information, visit the Census Bureau website. For more information on biomedical, behavioral and social research on aging and the special needs and problems of older people, visit www.nia.nih.gov.