Aging in America: Fixing the retirement problem

Before you go, we thought you'd like these...
Before you go close icon
The White House Conference On Aging Begins On Monday

America is aging -- as a country. As of last year about one in seven Americans was older than 65, and by 2030 it will be closer to one in five Americans. Aging impacts all of us, regardless of how young or old.

From health care to finances, our aging nation creates new challenges and issues for all Americans -- baby boomers and millennials alike.

Today the White House is highlighting the issues involved with growing old in America.

AOL teamed the White House to help shed light on one of the burning issues facing aging in the US: retirement security. As part of our comprehensive coverage throughout the day, Labor Secretary Tom Perez answered questions live on this topic, highlighting how restructuring incentives around retirement investing can help save Americans billions of dollars.

See images of some of the major milestones in the history of aging in America in the gallery below:
Aging in America - White House Conference on Aging
See Gallery
Aging in America: Fixing the retirement problem
In this July 30, 1965, file photo President Lyndon B. Johnson, left, with former Pres. Harry S. Truman at his side, uses the last of many pens to complete the signing of the Medicare Bill into law at ceremonies at the Truman Library in Independence, Missouri. John signed Medicare for people age 65 and older and Medicaid for the poor into law. His legendary arm-twisting and a Congress dominated by his fellow Democrats succeeded in creating the kind of landmark health care programs that eluded his predecessors. At rear from left are Lady Bird Johnson, Vice President Hubert Humphrey, and former first lady Bess Truman. (AP Photo/File)
FILE - This Aug. 14, 1935 black-and-white file photo shows President Franklin D. Roosevelt signing the Social Security Bill in Washington. These are complicated times in the affairs of Washington and the nation, with death stars everywhere and all of them a struggle to comprehend. The partial government shutdown, the debt limit squeeze just around the corner, sequestration, how they fit with the health care law, how they don’t _ it just goes on. When Roosevelt set up public pensions in 1935, he didn’t call it the Happy Retirees Act or the Justice for Deserving Seniors Act or the Golden Years Contentment Act. He called it the Social Security Act. In those apparently more serious and less pandering times, perish the thought of a No Child Left Behind Act. (AP Photo, File)
President Jimmy Carter uses two grade pens to sign into law a bill that sharply increases Social Security taxes for 107 million American workers in an effort to keep the hug pension system solvent into the 21st Century, at the Executive Office Building in Washington uesday, Dec. 20, 1977. Carter said the law was wise legislation despite to tax increase. (AP Photo/Barry Thumma)
President Barack Obama shakes hands with guests after speaking at the at the 2015 White House Conference, Monday, July 13, 2015, on Aging in the East Room of the White House in Washington. (AP Photo/Susan Walsh)
Margaret Morris, senior researcher for Intel, demonstrates a phone with a visual caller ID system, Sunday, Dec. 11, 2005, during the White House Conference on Aging in Washington. The phone will give seniors with cognitive difficulties an instant visual reminder of who is calling. (AP Photo/Susan Walsh)
First Lady Hillary Rodham Clinton, flanked by Cecilia Paulie of Manassas, Virginia, left, and Jane Burton of Midland Park, New Jersey talks about the Medicare program while attending the White House Conference on Aging in Washington Thursday, May 4, 1995. (AP Photo/Denis Paquin)
President Bill Clinton is hugged by unidentified senior citizens as he leaves the White House, Washington Friday, May 5, 1995 for East Lansing, Michigan, to give a commencement address at Michigan State University. The senior citizens are in Washington to attend the White House Conference on Aging. (AP Photo/Denis Paquin)
The World's oldest person, Jeralean Talley, happens to be an American. In this photo she's attending the 17th Annual Ford Freedom Awards at Max Fischer Music Center on May 5, 2015 in Detroit, Michigan. (Photo by Monica Morgan/WireImage)
A bipartisan bill, signed by House Speaker John Boehner of Ohio, and Sen. Orrin Hatch, R-Utah, which blocks cuts in Medicare payments that was due to take effect this month, and it revamps how physicians will be paid in the future, is seen on Capitol Hill in Washington, Thursday, April 16, 2015. (AP Photo/Andrew Harnik)
Dr. Eric De Jonge of Washington Hospital Center conducts a Medicare house call at the home of patient Beatrice Adams, in Washington, Thursday, Aug. 7, 2014. (AP Photo/Molly Riley)
Shou-Mei Li, right, cares for her husband Hsien-Wen Li, who is an Alzheimer's patient, at their home in San Francisco, in this photo taken, Thursday, Sept. 1, 2011. Dementia is poised to become a defining disease of a rapidly aging population _ and a budget-busting one for Medicare, Medicaid and families. The Obama administration is developing the first national Alzheimer's plan to combine research aimed at fighting dementia with help for caregivers. Around the country, thousands of families are pleading for changes to improve early diagnosis and help keep loved ones at home instead of in nursing homes. (AP Photo/Ben Margot)
In this Aug. 25, 2011 photo, registered nurse Mary Schlitter, left, speaks to heart patient Maria Marure, with the help of medical interpreter Marina Moreno at Our Lady of the Resurrection Medical Center in Chicago. A study has shown that hospital stays for heart failure fell a remarkable 30 percent in Medicare patients over a decade. Next year, the nation’s new health law begins punishing hospitals with high readmission rates for heart failure by shrinking Medicare payments. (AP Photo/M. Spencer Green)
Cleveland Clinic exercise physiologist Audra DiRauso sets up an exercise bike for Anthony Rugare during a cardiac rehabilitation class Monday, Dec. 21, 2009, in Cleveland. Researchers found people who completed all 36 sessions of cardiac rehabilitation that Medicare covers were less likely to die or suffer a heart attack in the following three to four years. (AP Photo/Mark Duncan)
FILE - In this Oct. 4, 1950 file photo, Ida May Fuller, 76, displays a Social Security check for $41.30 that she received at her home in Ludlow Vt. On Jan. 31, 1940, Fuller received the country's first Social Security check for $22.54. By the time she died in 1975 at age 100, she had received nearly $23,000 in benefits. (AP Photo, File)
In this April 29, 2014 photo, Hildegard Gigl leads a twice weekly exercise class at Hawthorne Terrace independent retirement center in Wauwatosa, Wis. Gigl, who turns 99 in June, is the oldest one in the class. "I'm getting older but I'm not getting old," she says. (AP Photo/Carrie Antlfinger)

Millions of Americans rely on Social Security to help make a living in retirement, but for many those checks aren't enough on their own, which is part of why the White House is focused on retirement security and making sure Americans don't get short changed when they save for the future.

Social Security Beneficiaries | FindTheData

This year's conference marks the 50th anniversary of the creation of Medicare, and as the chart below shows, the program has gone from being a tiny sliver of the federal budget to a huge chunk of it over the last five decades.

Government Spending | InsideGov

While Florida is often thought of as the retirement capital of the U.S., states in the Northeast actually have a higher percentage of their populations.

Percent of Population 65 and Over | FindTheHome

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners