We spend decades sweating, analyzing, investing and planning our retirement equity. Interestingly, most of us spend comparatively little time planning how we plan to “live” in our home through retirement.…
An excellent in-depth report that looks at emergence of technology and aging in place choices that seniors over 65, “Baby Boomers” are making. Some great insights from Technology Watch on the demographic with e-revenues to exceed $30B by 2017. How does your business strategy fit? Where do your parents fit?
Laurie M. Orlov, for Aging in Place Technology Watch
THE CONTEXT OF AGING – EVERYBODY’S DOING IT, MOSTLY AT HOME
Eighty percent of older adults today live in their own homes – with one-third of the 65+ and more than 46% of the 75+ now living alone.1 Not surprisingly, the majority of them would like to or may be forced to stay there – and if they move, according to AARP, it will be to another private home.2 The desire to live at home dominates the minds of the oldest baby boomers; they began turning 70 in January, 2016.
HOW DOES THE AGING IN PLACE TECHNOLOGY MARKET EVOLVE?
Fall Prevention for those Aging in Place
Most seniors over 65 prefer to remain in their own homes and Age in Place. There are several benefits to Aging in Place, but understanding the risk of falling is important, as is is the importance of implementing Fall Prevention measures through use of Universal Design tools.
Facts on Falls for Seniors
- Falls are the leading cause of fatal injury and the most common cause of nonfatal trauma-related hospital admissions among older adults. 1
- One-third of Americans over 65 fall each year.2
- More than 95% of hip fractures are caused by falling.3
- Falling once doubles seniors’ chances of falling again.1
- 25% will be dead within one year of a fall4,
- 70% will be released to a nursing home and only 25% of these people will ever regain their former independence.5
While there may be a number of contributing factors to why seniors fall, that influence these data, it is startling nonetheless and raises the need for Fall Prevention. (more…)