As baby boomers continue to age, the 65-and-over population is growing in dramatic fashion. More than 50 million Americans are currently age 65 and over, and that number is projected to reach more than 73 million by 2030. The growth rate of the senior population for the current decade will be nearly three times the rates seen during the 1990s and 2000s.
As the 65-and-over population has grown, there has been a corresponding surge in the number of seniors who are exploited financially. In a June 2018 report, the U.S. Securities and Exchange Commission cited research finding that more than 6 percent of the senior population is exploited each year (with many more cases going unreported). By 2025, that will correspond to more than 4 million instances of financial exploitation annually.
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Publication
NSCP Currents
12.2018