As the “Silver Tsunami” sweeps across the United States, driven by the aging Baby Boomer generation, the nonprofit sector is poised for a major shift. By 2030, over 20% of the U.S. population will be over the age of 65, and this demographic shift will create significant demand for new services catered to older adults. The nonprofit sector will be central to meeting these demands, with thousands of new organizations expected to emerge in areas such as healthcare, housing, mental health, and digital literacy. Let’s explore where and why the next wave of nonprofits will rise to serve this aging population.
What is the “Silver Tsunami”?
Coined by Pew Research, the term outlines how the United States is experiencing a significant demographic shift known as the “Silver Tsunami.” This term refers to the aging baby boomer generation—those born between 1946 and 1964—transitioning into retirement age. The implications of this demographic shift are profound, affecting various sectors such as the economy, healthcare, politics, and society at large.
5 Stats About Aging in the US
These statistics highlight both the historical trends and future projections of the significant aging trend in the U.S. population, emphasizing its rapid acceleration in recent years and the expected continued growth in the coming decade.
1. In 2020, about 1 in 6 people (16.8%) in the United States were age 65 and over, compared to less than 1 in 20 (4.7%) in 1920. This represents a growth from 4.9 million to 55.8 million older adults over a century.
2. The decade 2010-2020 saw the fastest increase in the older population since 1880-1890, with a 38.6% growth rate (from 40.3 million to 55.8 million).
3. By 2030, one in five people, or more than 20% of the U.S. population, will be over 65 years of age, amounting to about 71 million older Americans.
4. The national median age is expected to increase from 38.78 years in 2020 to over 40.01 years by 2030, with nearly half the country’s population in their 40s and older.
5. In some states (Maine, Florida, New Hampshire, and Vermont), nearly a quarter of the population is expected to be over age 65 by 2030.
This chart from the US Census sums it up, more people as a percent of population are increasing because: Time + Humans = Math.
U.S. Population +65 Over Time
These U.S. Population projections are probably lower than actuals due to factoring in average lifespan. Population trends will be amplified beyond historical levels due to life extension activities increasing the average lifespan.
U.S. Life Expectancy 1950-2024
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Sources:
- National 50-state population projections: 2030, 2040, 2050 | Cooper Center
- 2020 Census: 1 in 6 People in the United States Were 65 and Over
- U.S. Life Expectancy 1950-2024 | MacroTrends
In summary historical amounts of U.S. will be over 65, sooner than we are ready for and for longer due to average life expectancy. Now whay?
How Nonprofits Can Prepare and Profit from Silver Tsunami
Yes, nonprofits can make a profit and there is nothing wrong with that as long as they are serving their mission. Nonprofits make money via grants, donations, earned revenue, membership dues and other activities. By preparing for this population shift with services, fundraising campaigns, and grant planning, nonprofits can be proactive about what is coming in 5 years.
1. Healthcare and Support Services
The most immediate need created by the aging population is healthcare. As people live longer, managing chronic conditions, providing palliative care, and ensuring access to affordable healthcare will become more pressing. Nonprofits offering a range of services — from in-home care to medical transportation and disease management programs — will see tremendous growth.
Chronic Disease Management: As the incidence of chronic illnesses such as diabetes, heart disease, and arthritis increases with age, nonprofits will emerge to provide affordable, accessible care, particularly in underserved communities.
Home-Based Care: Nonprofits offering in-home healthcare and caregiver support services will expand, as many seniors prefer aging in place rather than moving to care facilities. Programs like visiting nurses or volunteer-led caregiving networks will play a crucial role.
2. Mental Health and Social Isolation
As seniors age, mental health becomes a critical, yet often overlooked, issue. The rise of social isolation, depression, and cognitive decline will spur the creation of nonprofits focused on improving the mental well-being of the elderly.
Social Engagement Programs: Nonprofits dedicated to combating social isolation will grow, offering community-building programs, volunteer companionship services, and social activities for seniors who live alone.
Cognitive Health Initiatives: With dementia and Alzheimer’s affecting millions, new nonprofits will focus on early detection, support groups for families, and cognitive stimulation programs. These organizations will play an essential role in helping individuals maintain cognitive health and offering support for caregivers.
3. Affordable Housing and Aging in Place
The rising cost of living and housing will disproportionately affect older adults living on fixed incomes. Nonprofits focused on developing affordable, accessible housing solutions for seniors will be critical in helping this demographic age with dignity.
Affordable Senior Housing: Many seniors will struggle to afford housing as they retire. Nonprofits will emerge to develop low-cost housing communities or offer financial assistance programs to help seniors maintain their independence.
Home Modification Programs: Nonprofits focusing on making homes more accessible through modifications like stairlifts, ramps, or bathroom renovations will become increasingly important. These services allow seniors to “age in place” safely and comfortably.
4. Digital Literacy and Technology Support
As society becomes increasingly digital, the older population faces a growing digital divide. Many seniors struggle to access the internet, manage online healthcare platforms, or stay connected with loved ones through technology. Nonprofits will step in to provide much-needed digital literacy training and technology support for older adults.
Tech Training for Seniors: Nonprofits offering digital literacy classes and personalized tech support will be essential in helping seniors navigate everything from telemedicine to social media. These services will not only empower older adults but also keep them connected to family and friends.
Telehealth Navigation: As healthcare moves increasingly online, nonprofits will be vital in helping seniors access telehealth services, manage online medical portals, and ensure they can participate in virtual appointments with healthcare providers.
5. Transportation Services
Mobility is another critical issue for seniors, particularly those who live in rural or suburban areas with limited public transportation. Nonprofits providing transportation solutions will be crucial for helping seniors access healthcare, run errands, and participate in social activities.
Senior Ride Programs: Nonprofits offering free or low-cost transportation services will become more common, helping seniors get to medical appointments, grocery stores, and community events. These programs may involve volunteer drivers, partnerships with ride-sharing apps, or shuttle services.
Mobility Solutions: Nonprofits will also focus on providing mobility aids, such as wheelchairs or walking devices, and working with local governments to ensure that public spaces are accessible for seniors with mobility challenges.
6. Workforce and Volunteer Engagement for Seniors
Retirement doesn’t mean the end of work for many seniors. Nonprofits that focus on keeping older adults engaged in part-time work or volunteer opportunities will thrive, as many seniors seek purpose and fulfillment in their later years.
Part-Time Employment and Skill Building: Nonprofits will help older adults re-enter the workforce by providing skill-building programs and job placement services tailored to their needs. As people live longer, more seniors are choosing to work part-time, and nonprofits can support this transition.
Senior Volunteer Networks: Many seniors also want to give back to their communities. Nonprofits offering volunteer opportunities that are flexible and suited to older adults’ abilities will rise. These organizations will help seniors stay socially active while contributing to meaningful causes.
7. Legal and Financial Support
As seniors navigate complex issues like estate planning, elder rights, and long-term care costs, nonprofits providing legal and financial services will see increasing demand. Many seniors, particularly those from low-income backgrounds, will need affordable access to these services to protect their assets and ensure their wishes are respected.
Elder Rights Advocacy: Nonprofits will focus on protecting seniors from financial exploitation and abuse, ensuring they are aware of their rights and can access legal resources.
Estate and Long-Term Care Planning: With the cost of long-term care skyrocketing, nonprofits offering guidance on estate planning, Medicaid applications, and long-term care insurance will be invaluable in helping seniors manage their financial futures.
8. Respite and Caregiver Support
With more families taking on caregiving roles for elderly relatives, there will be a growing need for nonprofits that provide respite care and emotional support for caregivers.
Respite Care Services: Nonprofits offering temporary caregiving relief will be crucial in preventing caregiver burnout. These organizations can provide short-term care, either in-home or in a dedicated facility, allowing primary caregivers to take breaks while ensuring their loved ones are well-cared for.
Caregiver Education and Support Groups: New nonprofits will provide resources, training, and emotional support for family caregivers, helping them manage the stresses and challenges of looking after an aging relative.
The Growing Need for Nonprofits Serving Older Adults
The Silver Tsunami represents the most significant demographic shift in U.S. history, and nonprofits will be on the frontlines of addressing the challenges it creates. If your 5+ year plan does not address this shift, it is incomplete.
Over the next decade, tens of thousands of nonprofits will emerge to meet the needs of the growing senior population, providing services that range from healthcare to housing, mental health, and digital literacy.
As the number of individuals over the age of 65 continues to grow, these organizations will not only support seniors in maintaining their quality of life but will also play a critical role in reshaping how society values and cares for its elders. The next wave of nonprofit growth will be fueled by the drive to ensure that aging Americans can live with dignity, independence, and access to the resources they need for a fulfilling life.