November 18, 2006 State’s aging population a rising challenge


By PERRY SWANSON THE GAZETTE

WESTMINSTER - Colorado’s population will look a lot more like Florida’s a quarter-century from now as the number of people age 65 and older triples to 1.2 million, experts said at a conference Friday. Florida has long had the greatest proportion of residents age 65 and older. According to the U.S. Census Bureau, 16.6 percent of the state’s 17 million residents were in that age range last year. Colorado was ranked 47th among the states, with 9.7 percent of its residents age 65 and older last year.

But Colorado will catch up to Florida in the rankings as retirees move here and baby boomers who live in the state stay put, experts said. By 2030, people age 65 and older will account for 16.4 percent of the state’s residents. The state’s overall population, meanwhile, will increase from 4.5 million to 7.3 million, according to projections the Demography Office issued Friday. A surge in the population of older people creates challenges for governments, businesses and especially the young, according to demographers, economists and others. The problems could be severe for members of the baby boom generation who failed to save enough money for retirement, said Todd Swanson, a specialist in aging with the Colorado Department of Human Services. “Where will the boomers go when they run out of money? Well, be nice to your kids,” he said. Swanson was among the speakers at the annual meeting of the Colorado Demography Office, a state agency that examines population trends.

The baby boom generation includes people born from 1946 to 1964. The first boomers will turn 65 years old in 2010, hitting a traditional retirement age. But some boomers, particularly women, might delay retirement, said Bill Kendall of the Center for Business and Economic Forecasting. “These are women who, unlike their mothers and older sisters, have been in the labor force all their lives,” Kendall said.

Among other population trends the Colorado Demography Office identified Friday: - El Paso County’s population increase from 2004 to last year was the fourth-highest in the state, with an estimated 10,765 new residents. That’s about 29 new residents each day. Douglas County had the highest number of new residents during the same period: 12,252 people. Douglas and Weld counties were tied for the fastest percentage growth, with the population in each county increasing 5.1 percent. - Colorado’s home-building boom continued from 2004 to last year as 46,700 new houses and apartments were built. About 14 percent of the new housing units were in El Paso County. - The state’s population growth is expected to accelerate to about 100,000 new people each year through 2035. That’s up from about 75,000 new people annually from 2000 to last year. Thanks to a strong job market, migration from other states will overtake births as the largest contributor to population growth.

For more info on Douglas County housing trends go to www.ColoradoDreamHomes.net