2003 State Report: Introduction
As a follow-up of the first two editions of Mature Adults Count: Preparing for the Best to Come, we now publish the third edition with the availability of the 2000 Census data. Mature Adults Count: Sunny Places - Many Faces documents the changes taking place in South Carolina, as well as nationally, in terms of the dramatic aging of the population and the increased diversity occurring in South Carolina. South Carolina is becoming older and significantly more diverse with the in-migration of many seniors from other parts of the country, and migration of Hispanics and Asians to our state. All of these seniors come to South Carolina to enjoy the warm climate, pleasant lifestyle, freedoms and opportunities that are available.
The profile of this population group is different from what we have experienced in the past. The Boomers, born 1946 to 1964, developed a new youth culture that has created a new mature culture. The current 50 and over population is more affluent, healthier and active thanks to a rising emphasis on preventive health measures and lifestyle behavior combined with the medical breakthroughs of this century.
This population group has gained political attention as a voting group, gained mass market emphasis due to their buying power, and sees development opportunities arise as they choose housing to suit their lifestyles and South Carolina as a state to retire.
They face challenges as well. With the recent trend toward having children later, many at 50 have college-age, dependent children. Many often need to provide financial or daily living assistance to an older parent. With the concurrent trend of having fewer and even no children, there will be a smaller working group contributing to funds such as Social Security, which provides the bulk of income assistance to older Americans. Additionally, our seniors face the relentless rising cost of prescription medications and health care, which eats at their ability to meet the costs of daily living. Many people face the dilemma of what to pay for. Our state and the federal government are grappling with issues such as these and how to pay for them. Government on both the state and national level faces the issues of terrorism, and growing government deficits at a time when significant amounts of new monies will be needed to address many of the issues noted above.
The competitive business environment affects older workers disproportionately; early retirements, layoffs and disabling conditions sometimes place early stresses on retirement income. Inflation, particularly health care, continues to eat away at savings. The ability to maintain housing payments, repairs, taxes and utilities is stretched. Several years ago, many of our mature adults were dreaming of early retirement due to the value of their investments in the stock market, 401(k)s and IRAs. With the bursting of the stock market bubble, and the resulting loss in value of their investments and retirement portfolios, the scandals with big businesses and the economic downturn, many now face the prospect of having to work considerably longer to replace their retirement nest eggs. Our political process now must review what services it can afford while at the same time our citizens must address what they are willing to pay for through taxes and fees.
As more older Americans move into South Carolina to enjoy retirement in the warmer climate along our sandy beaches or with a mountain view, our natural and financial resources will be strained. The mixing of those with different backgrounds and perspectives can benefit us, as long as we work toward a common goal of bettering all age groups throughout South Carolina's communities. The way communities, churches, governments and private interests rise to meet the challenges of this population will determine our quality of life as we face the next millennium.
Sunny Places - Many Faces offers a look at our mature adult population (age 50 and above) through the available data on demographics, workforce income, poverty, housing health, safety and security. It is our hope that this information will be useful in proactively developing innovative ways to meet the needs of this growing population and the resulting impact on our state and communities.