Report: Colorado must brace itself for the ‘Silver Tsunami’
State lawmakers and the governor’s office on Tuesday were told that they should create a statewide entity to prepare for the state’s growing aging population.
The Strategic Action Planning Group on Aging issued its first series of recommendations following more than a year’s worth of research on the subject of the coming “Silver Tsunami,” in which the state’s aging population is expected to grow by more than half-a-million people by 2030.
The panel-which was created by legislation in 2015-studied strategies to prepare for what some describe as a looming crisis.
“This trend will affect every facet of daily life for millions of Coloradans-from the economy to transportation systems to the workforce,” the report from the group states. “Indeed, Colorado stands at the edge of a demographic shift that will redefine it for generations to come.”
Its first recommendation calls for establishing a permanent office within the governor’s office to coordinate and oversee aging issues.
“This office or position will ensure the state is acting in concert on aging-related issues, is accountable to Coloradans and its commitments to its seniors, and can advocate for these and future recommendations,” the report states.
Other recommendations include accounting for and prioritizing state aging expenses; working to eradicate elder abuse and fraud; assisting caregivers with caring for aging friends and family; promoting retirement savings; creating jobs to assist aging Coloradans; and supporting local governments in helping the elderly.
Research suggests that the hardest hit will be the Front Range and Western Slope resort communities.
Between 2000 and 2010, Colorado’s population of those 65 and older grew by 32 percent, compared with the state’s total population, which grew by 17 percent. Its aging population grew 29 percent between 2010 and 2015-the third-fastest rate in the nation.
Between 2010 and 2020, 155 people will turn 65 every day in Colorado.
A struggle will be helping older people “age in place,” or the ability to live in one’s own home safely, independently and comfortably, regardless of age and income. Nearly 90 percent of those older than 65 want to stay in their residence as long as possible. Eighty percent believe they will always live at home.
But a lack of transportation and affordable housing could curtail that desire, which is why the report recommends working with local governments on infrastructure needs.
The recommendations to the Legislature and governor offer a starting point. But lawmakers will need to come up with money in an already crippled budget to implement many of the suggestions.
In the meantime, the Strategic Action Planning Group on Aging will continue its work, updating recommendations in 2018 and 2020. It also will engage the private sector, including how technology can benefit the elderly, such as artificial intelligence.
“The only threat aging poses for Colorado is if its leaders do not adequately prepare for this looming and ongoing demographic shift,” the report states. “The aging dynamic presents some difficult challenges, but it also introduces unique opportunities.”