Cropped shot of a group of seniors sitting on a bench outside
(ORLANDO, Fla.) — By 2060, almost a quarter of all U.S. residents will be over age 65, and life expectancy will reach an all-time high of 85 years, according to new reports the U.S. Census Bureau released Thursday.
The growth in life expectancy in the U.S. over the next four decades is expected to be slower than it was in the four previous decades.
Between 1970 and 2015, life expectancy rose by almost 8 years, but it’s only predicted to rise about 6 years between 2017 and 2060. That’s because in the latter half of the 20th century, there were decreases in infectious diseases and cardiovascular deaths, increases in vaccinations as well as the promotion of exercise and anti-smoking campaigns.
Looking forward, “the prevalence of preventable health risks — such as smoking, obesity, and, more recently, opioid-related overdoses — hinders overall population health and contributes to slowed gains in life expectancy,” according to the report which uses the U.S. Census Bureau’s 2017 National Population Projections.
Although women are still projected to live longer than men by 2060, as they do now, life expectancy is expected to grow larger for men than woman. While all racial and ethnic groups are expected to have gains in life expectancy, the biggest ones are projected to be for black men, American Indian men and Alaska native men, according to the report.
The U.S. is expected to grow by almost a quarter in the next four decades, from about 332 million people today to 404 million people by 2060. By 2028, the percentage of foreign-born people will be 14.9%, the highest level since 1850, according to the Census Bureau.
But growth hinges on U.S. immigration policy, according to the Census Bureau.
With high levels of immigration, defined as an increase of 50% above last decade’s levels, the U.S. population could grow to 447 million people by 2060. With no immigration, the United States would lose population after 2035, and the country’s population would decline to 320 million by 2060, according to the Census Bureau.
Immigration also will determine the nation’s diversity by 2060, said demographer William Frey of The Brookings Institution.
By 2045, whites will represent less than half of the U.S. population under current projections, but that could speed up to 2040 under the high immigration scenario, he said.
“If immigration was stopped, then we will stay majority white until 2060 but barely at 51.1 percent,” Frey said in an email. “But the story is different for the young under age 30 population.”
For those under age 30, the population becomes “minority white” in 2022 with the high immigration scenario. Under current projections, it crosses that threshold in 2024. Without immigration, whites under age 30 will be in the minority by 2032, Frey said.
Starting in 2030, international migration will be the biggest driver of population growth in the U.S., exceeding natural increases.
The country’s population growth will slow down over the next four decades, growing by about 2.3 million people a year through 2030. But it will then decrease to about 1.8 million a year from 2030 to 2040, and even further to about 1.5 million people a year from 2040 to 2060, according to the projections.
Dr. William Frey joined CBSN to discuss the latest U.S. Census projections, including how the increasingly diverse Generation Z will be supporting an aging demographic. Subscribe to the CBS News Channel HERE: http://youtube.com/cbsnews Watch CBSN live HERE: http://cbsn.ws/1PlLpZ7 Follow CBS News on Instagram HERE: https://www.instagram.com/cbsnews/ Like CBS News on Facebook HERE: http://facebook.com/cbsnews Follow CBS News on Twitter HERE: http://twitter.com/cbsnews Get the latest news and best in original reporting from CBS News delivered to your inbox. Subscribe to newsletters HERE: http://cbsn.ws/1RqHw7T Get your news on the go! Download CBS News mobile apps HERE: http://cbsn.ws/1Xb1WC8 Get new episodes of shows you love across devices the next day, stream CBSN and local news live, and watch full seasons of CBS fan favorites like Star Trek Discovery anytime, anywhere with CBS All Access. Try it free! http://bit.ly/1OQA29B — CBSN is the first digital streaming news network that will allow Internet-connected consumers to watch live, anchored news coverage on their connected TV and other devices. At launch, the network is available 24/7 and makes all of the resources of CBS News available directly on digital platforms with live, anchored coverage 15 hours each weekday. CBSN. Always On.
In today’s world, it’s more important than ever to prepare for your financial future.
And one of the easiest ways to add to your nest-egg is to simply cut your biggest household expenses and save more of your hard earned money.
We often forget some of the golden rules to saving that our parents taught us. Here’s a quick list of things you can do to save on bills in 2019. No matter your circumstance, there’s something here that everyone can use like cutting down your mortgage bill and save on utilities.
1. Take Full Advantage Of These Tax Deductions
Owning a home can be very lucrative. Seriously, owning a home can not only give you a cheaper monthly payment than renting but in many cases, the tax benefits make the decision a no-brainer.
Here are a few of the larger deductions that you need to be sure to take:
Interest you pay on your mortgage: If you own a home and don’t have a mortgage greater than $750,000, you can deduct the interest you pay on the loan. This is one of the biggest benefits to owning a home versus renting–as you could get massive deductions at tax time. The limit used to be $1 million, but the Tax Cuts and Jobs Act of 2017 (TCJA) reduced the limit and made some clarifications on deducting interest from a home equity line of credit.
Property taxes: Another awesome benefit to owning a home is the ability to deduct your property taxes. Before TCJA, the rules were a little more flexible and you were able to deduct the entirety of your property taxes. Now things have a changed a bit. Under the new law, you can deduct up to $10,000. The deduction for state and local income taxes was combined with the deduction for state and local property taxes, too.
Tax incentives for energy-efficient upgrades: While most of the tax incentives for making energy-efficient upgrades to your home have gone away, there are still a couple worth noting. You can still claim tax deductions on solar energy–both for electric and water heating equipment, through 2021. The longer you wait, though, the less money you’ll get back. Here’s the percentage of equipment you can deduct, based on time of installation:
Between January 1, 2017, and December 31, 2019 – 30% of the expenditures are eligible for the credit
Between January 1, 2020, and December 31, 2020 – 26%
Between January 1, 2021, and December 31, 2012 – 22%
2. Use Government Rebates To Get Solar Panels And Slash Your Energy Bills
Warning: Do not pay your next energy bill until you read this…
This is the 1 simple truth your power company doesn’t want you to know. There is a new policy in 2019 that qualifies homeowners who live in specific zip codes to be eligible for $1,000’s of Government funding to install solar panels. Has your power company told you that? Of course not. They hope homeowners don’t learn about this brilliant way to reduce your energy bill tremendously!
When homeowners check whether they qualify many are shocked that subsidies and rebates can cover a lot of the costs associated with installation so it greatly reduces the amount you’ll have to pay. Many may qualify for $0 down! Soon, you could be on your way to significantly reducing your electric bill in a matter of weeks.
Smart homeowners are setting out to do their own research and determine whether this new program lives up to its reputations. Over and over again, many are reporting back on their findings, with the most exciting part being that they are now able to save $1,000s a year on their own energy bill.
New lighting technology has really come a long ways. Now although they do cost more than traditional incandescent bulbs, CFL and LED bulbs can last for years without having to replace them. You don’t even need to replace every bulb in the house at once. Even swapping just your four or five most-used light bulbs can save you $45 or more a year!
CFL vs. LED
CFLs, which use a quarter of the energy of incandescent bulbs and last for years, are the next cheapest option after traditional bulbs. But they also have some drawbacks: They take a while to warm up to full brightness, and they also contain a small amount of mercury.
Meanwhile, LEDs are more expensive. However, they’re getting cheaper all the time, and they are easily the best lighting option available: They light up instantly, are efficient as CFLs, produce a warm glow without getting hot to the touch, and can last for decades.
4. Automate Your Thermostat
One of the easiest things you can do to instantly start saving money on your heating and cooling bills is to get an automated thermostat. These smart thermostats will learn when you are home and make sure the home is at a comfortable setting during those hours.
You may even be able to get a rebate from your utility provider for installing one of these in your home. It’s a win-win!
5. Make A Grocery List
You ever go to the grocery store when you’re hungry and find yourself checking out with way more than you intended? We call this “Hunger Shopping” and it’s quite dangerous to your wallet!
Before going to get groceries, make a list of groceries that you need for the upcoming week. That way, you only buy what you’re intending to use and the amount that will get thrown away from being expired is kept to a minimal.
6. Buy in Bulk
One of the easiest things you can do to instantly start saving money is to buy in bulk! Retailers often give a MUCH better deal on products such as paper towel, toilet paper, detergent, etc if you buy in bulk.
This might seem like an obvious one, but we often forget how much money we waste by not buying in bulk.
7. Want a Patio? Consider Concrete Over Pavers
Building a patio can add great value to your home, as well as creating enjoyable outdoor living space for you and your family. But patios can come at a great cost.
When we decided to add a patio to our home, we looked at the different surface options carefully. Although many landscapers would recommend pavers over concrete because of their durability over time, we decided that the cost savings was more important to us. We personally love the clean look of concrete as well.
Now one thing to remember with concrete is that it WILL crack eventually. But if you have a good concrete crew, it should be prepped right where the cracks are minimal. So we expect to see cracks, but are hopeful that it will be minimal.
8. No Life Insurance? You’ll Want To Use This Brilliant Life Insurance Trick
If you don’t have life insurance, you better read this.
It’s not something any of us like to think about or plan for. But when the worst happens, it’s essential to know your family and loved ones are covered financially. That’s why it’s essential to have a life insurance. A good life insurance policy can help cover the cost of a mortgage, childcare costs and safeguard your family from inheriting any debts you might have.
But the sad truth is, a shocking number of Americans do not have a life insurance policy and their family is at financial risk if the worst should happen.
There is a service that is now allowing users to get free life insurance quotes from some of the top insurance companies out there. People are shocked at how cheap an excellent policy is after requesting their free quotes. But the reality is, life insurance rates are at a 20-year low and thanks to new program policies you could qualify for a great new policy at an extremely affordable price.
To get your free quote today, click below and complete a few questions (about 60 seconds). Once you’re done, you will be presented with choices and rates you never thought possible (no login required). Enjoy your savings!
Just like we need to breathe, your air conditioner needs space where it’s getting air easily. Many AC units are surrounded by shrubs that can restrict the airflow it needs to run efficiently. Take a few minutes this weekend and do the following:
Trim up any bushes that are are touching the unit so there is at least 1 foot of clearance
Clean up the ground for any loose debris or leaves
If the outside of the unit has a lot of debris clogging it up, consider having a professional service and clean it out
10. New Auto Insurance Policy
Here’s what auto insurance companies don’t want you to know…and what thousands of consumers are quickly learning about their current auto insurance plan:
If you’re paying more than $63 per month for auto insurance, this auto insurance comparison tool can help you check to see if you’re overpaying in a few minutes. This is something every driver should be doing every 6 months or so to ensure that they are getting the best deal.
Insurance companies are always competing to win your business, but if you turn a blind eye and keep the same policy in place for a long period of time, your rates might have increased. By checking rates, drivers saved an average of $531 per year with a new policy.
All active military and veterans are entitled to get a 10% discount on all in-store purchases at Lowe’s.
To make it even better, Lowe’s extends this offer to their spouses! Need new tools? How about new appliances? How about a kitchen remodel? Lowe’s carries a variety of things, so take advantage of this incredible discount!
12. Born Before 1985? Get $3,000/year Taken Off Your Mortgage With The Government’s New “Enhanced Relief” Program
Banks Don’t Want Homeowners Knowing This
Still unknown to many is a brilliant Government Program called the Freddie Mac Enhanced Relief Refinance Program (FMERR) that could benefit millions of Americans and reduce their payments by as much as $3,000 per year! You could bet the banks aren’t too thrilled about losing all that profit and might secretly hope homeowners don’t find out before time runs out.
So while the banks happily wait for this program to end, the Government is making a final push and urging homeowners to take advantage. This program is currently active but could be shut down at any given time in 2019. But the good news is that once you’re in, you’re in. If lowering your payments, paying off your mortgage faster, and even taking some cash out would help you, it’s vital you act now and see if you could qualify for FMERR or a better rate in today’s marketplace.
Apparently, in the dating world, there’s now an epidemic of men specifying partners and relationships with “no drama”. “I understand that people want joy, laughter and happiness in their relationships,” wrote Laura Hilgers, in a New York Times essay on the phenomenon.
But the men who use such phrases, she argued, “want something that doesn’t exist: a problem-free partnership with someone who has no life experience. Are they looking for a woman who never gets angry or afraid or sad, who never worries about her family or struggles in her job?”
It’s hard to say, because “drama” is so vague. That makes it a worthy successor to the now rather 70s-sounding “issues”: a label capacious enough to include people with severe personality disorders – whom you might be forgiven for wishing to avoid – but also everyone who has displayed any human emotion other than upbeat good cheer. So, by demanding “no drama”, you get to characterise your fear of difficult emotions as a simple matter of self-care.
Of course you don’t want to date somebody with, you know, issues! (To be clear: if drama means emotional or physical abuse, you should definitely avoid it.) On the other hand, good luck finding a fulfilling relationship if you will only consider people with no issues.
If I have sympathy for these drama-avoidant men, though, I can sum it up in two words: internet dating. Romance, like much else these days, comes with the promise of infinite possibility: if this particular match doesn’t work out, there are countless fantastic alternatives on standby. The promise might not be real; maybe none of those astoundingly attractive women would date you.
But it’s the belief that counts – and in this environment, filtering out the prospect of being exposed to someone else’s emotional struggles makes a certain, rather soulless, kind of sense. Why choose a challenging experience if a fun one seems like an option? Sure, the challenging experience may ultimately prove more meaningful, but it’s still a big ask.
It’s a mild version of that phenomenon where people have a brush with death, through illness or accident, then say it was the most meaningful experience of their lives. Fair enough – but even so, few of us would choose that path if we thought we could skip it instead. The problem here is the collision of a timeless truth – that what we think we want isn’t always what’s best for us – with a modern one: the way the “convenience revolution” makes it so easy to get what we think we want.
Convenience plays funny tricks: “I prefer to brew my coffee,” writes the academic Tim Wu, “but Starbucks Instant is so convenient I hardly ever do what I ‘prefer’.” A decade or two ago, it didn’t matter so much if you couldn’t handle negative emotions in others; if you wanted a relationship at all, you would have to learn to cope.
These days, when it takes willpower just to go and meet a friend instead of staying at home watching Netflix, how much more willpower does it take to voluntarily submit to the risk of difficult feelings? You still should, since it’s the only way to fulfillment. But like many other things worth doing, it’s getting easier and easier not to do it.
Editors’ Note: Following the huge popularity of this post, article source Amy Morin has authored a guest post on exercises to increase mental strength here and Cheryl Conner has interviewed Amy in a Forbes video chat about this article here.
For all the time executives spend concerned about physical strength and health, when it comes down to it, mental strength can mean even more. Particularly for entrepreneurs, numerous articles talk about critical characteristics of mental strength—tenacity, “grit,” optimism, and an unfailing ability as Forbes contributor David Williams says, to “fail up.”
However, we can also define mental strength by identifying the things mentally strong individuals don’t do. Over the weekend, I was impressed by this list compiled by Amy Morin, a psychotherapist and licensed clinical social worker, that she shared in LifeHack. It impressed me enough I’d also like to share her list here along with my thoughts on how each of these items is particularly applicable to entrepreneurs.
1. Waste Time Feeling Sorry for Themselves. You don’t see mentally strong people feeling sorry for their circumstances or dwelling on the way they’ve been mistreated. They have learned to take responsibility for their actions and outcomes, and they have an inherent understanding of the fact that frequently life is not fair. They are able to emerge from trying circumstances with self-awareness and gratitude for the lessons learned. When a situation turns out badly, they respond with phrases such as “Oh, well.” Or perhaps simply, “Next!”
2. Give Away Their Power. Mentally strong people avoid giving others the power to make them feel inferior or bad. They understand they are in control of their actions and emotions. They know their strength is in their ability to manage the way they respond.
3. Shy Away from Change. Mentally strong people embrace change and they welcome challenge. Their biggest “fear,” if they have one, is not of the unknown, but of becoming complacent and stagnant. An environment of change and even uncertainty can energize a mentally strong person and bring out their best.
4. Waste Energy on Things They Can’t Control. Mentally strong people don’t complain (much) about bad traffic, lost luggage, or especially about other people, as they recognize that all of these factors are generally beyond their control. In a bad situation, they recognize that the one thing they can always control is their own response and attitude, and they use these attributes well.
5. Worry About Pleasing Others. Know any people pleasers? Or, conversely, people who go out of their way to dis-please others as a way of reinforcing an image of strength? Neither position is a good one. A mentally strong person strives to be kind and fair and to please others where appropriate, but is unafraid to speak up. They are able to withstand the possibility that someone will get upset and will navigate the situation, wherever possible, with grace.
6. Fear Taking Calculated Risks. A mentally strong person is willing to take calculated risks. This is a different thing entirely than jumping headlong into foolish risks. But with mental strength, an individual can weigh the risks and benefits thoroughly, and will fully assess the potential downsides and even the worst-case scenarios before they take action.
7. Dwell on the Past. There is strength in acknowledging the past and especially in acknowledging the things learned from past experiences—but a mentally strong person is able to avoid miring their mental energy in past disappointments or in fantasies of the “glory days” gone by. They invest the majority of their energy in creating an optimal present and future.
8. Make the Same Mistakes Over and Over. We all know the definition of insanity, right? It’s when we take the same actions again and again while hoping for a different and better outcome than we’ve gotten before. A mentally strong person accepts full responsibility for past behavior and is willing to learn from mistakes. Research shows that the ability to be self-reflective in an accurate and productive way is one of the greatest strengths of spectacularly successful executives and entrepreneurs.
9. Resent Other People’s Success. It takes strength of character to feel genuine joy and excitement for other people’s success. Mentally strong people have this ability. They don’t become jealous or resentful when others succeed (although they may take close notes on what the individual did well). They are willing to work hard for their own chances at success, without relying on shortcuts.
10. Give Up After Failure. Every failure is a chance to improve. Even the greatest entrepreneurs are willing to admit that their early efforts invariably brought many failures. Mentally strong people are willing to fail again and again, if necessary, as long as the learning experience from every “failure” can bring them closer to their ultimate goals.
11. Fear Alone Time. Mentally strong people enjoy and even treasure the time they spend alone. They use their downtime to reflect, to plan, and to be productive. Most importantly, they don’t depend on others to shore up their happiness and moods. They can be happy with others, and they can also be happy alone.
12. Feel the World Owes Them Anything. Particularly in the current economy, executives and employees at every level are gaining the realization that the world does not owe them a salary, a benefits package and a comfortable life, regardless of their preparation and schooling. Mentally strong people enter the world prepared to work and succeed on their merits, at every stage of the game.
13. Expect Immediate Results. Whether it’s a workout plan, a nutritional regimen, or starting a business, mentally strong people are “in it for the long haul”. They know better than to expect immediate results. They apply their energy and time in measured doses and they celebrate each milestone and increment of success on the way. They have “staying power.” And they understand that genuine changes take time. Do you have mental strength? Are there elements on this list you need more of? With thanks to Amy Morin, I would like to reinforce my own abilities further in each of these areas today. How about you?
Cheryl Snapp Conner is a frequent speaker and author on reputation and thought leadership. You can subscribe to her team’s bi-weekly newsletter, The Snappington Post, here.
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