The phrase “silver tsunami” describes the significant social and economic shifts resulting from the aging of the sizable baby boom generation in the U.S., which includes those born between 1946 and 1964. Some people find this term to be ageist and disrespectful. Regardless of the name, the aging baby boomers present both opportunities and challenges for society as a whole.
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The phrase silver tsunami started popping up in the early 2000s. One of the first mentions was in a September 2001 report by the Pew Internet & American Life Project, which pointed out a rise in internet users aged 50 to 64, dubbing this trend a “silver tsunami.”
Fast forward over 20 years, and the wave is still going strong.
While baby boomers aren’t the first to hit their 70s, 80s, 90s, or even reach 100, their massive numbers have really amplified their influence. Two snippets from a May 2023 report by the U.S. Census Bureau illustrate this perfectly:
- In 2020, the United States had 55.8 million individuals aged 65 and older, making up 16.8% of the total population. This was a significant increase of 38.6% from 40.3 million in 2010.
- The percentage of the population that is 65 and older more than doubled from 1940 to 2020, rising from under 7% to almost 17%.
This trend isn’t just happening in the U.S.—it’s going on all over the world. The World Health Organization (WHO) says that every country is seeing a rise in both the number and share of older people. In fact, the WHO expects the global population of people aged 60 and up to grow from 1 billion in 2020 to 1.4 billion by 2030, and then jump to 2.1 billion by 2050. While this shift first showed up in wealthier countries like Japan (where 30% of the population is already over 60), it’s now lower- and middle-income countries seeing the biggest changes.
Conclusion
An aging population is going to bring big changes—some good, some challenging—for our society and economy. But at its core, it’s a good thing: most Americans are living longer and staying healthier.