The decade of the 'young old' beginsOTB has commented on this in previous posts, but here is an excerpt from a December 25, 2019 article in The Economist with the same title as the subject heading:
THE YEAR 2020 will mark the beginning of the decade of the yold, or the “young old”, as the Japanese call people aged between 65 and 75. The height of the baby boom, the period of high fertility in rich countries after the second world war, was 1955-60. The traditional retirement age is 65, and 2020-25 is 65 years later. The yold are more numerous, healthier and wealthier than previous generations of seniors. There will be 134m 65- to 74-year-olds in rich countries in 2020 (11% of the population), up from 99m (8%) in 2000. That is the fastest rate of growth of any large age group. The yold are also better off: between 1989 and 2013, the median wealth of families headed by someone over 62 in America rose by 40% to $210,000, while the wealth of all other age groups declined. That will disrupt consumer, service and financial markets. The over-60s are one of the fastest-growing groups of customers of the airline business. The yold are vital to the tourism industry because they spend much more, when taking a foreign holiday, than younger adults.