By Steve Gale, Business Development Coordinator
As Maryland’s population ages, older adults are becoming more significant and integral to the state’s workforce and economy. They fuel local economies, provide support for families, and contribute to the community in many ways.
Today, one in four Marylanders is over the age of 50, and by 2050, that number will increase to one in three. With people living longer and healthier lives, older workers play a vital role in our economic landscape.
In 2018, Marylanders aged 50 and older contributed a substantial 38% of the state’s taxes and 39% of its GDP. These figures are expected to rise to 42% and 43%, respectively, by 2050. This translates to a remarkable $487 billion contributed to Maryland’s GDP by the 50+ population, accounting for 60% of all spending in the state.
Despite the clear benefits older workers bring, societal age discrimination continues to hinder economic growth and harm the well-being of this demographic. To tackle these challenges, the Maryland Department of Aging (MDOA) is developing Longevity Ready Maryland (LRM), a multisector plan focused on creating an age-inclusive workforce.
Longevity Ready Maryland (LPR) will coordinate services to address the economic and social needs that contribute to healthier and more purposeful longevity. Key partners include:
- Older Adults
- Area Agencies on Aging
- Caregivers (paid and unpaid)
- Healthcare Providers
- Social Service Agencies
- Advocacy Groups
- Philanthropies
- Government Agencies
- Community-based Organizations
- Educators
- Research and Academia
- Elected Officials
- Business and Employers
To learn more about Longevity Ready Maryland (LRM) and how Maryland prepares for the future, visit LRM.Maryland.Gov.
We value our elders, and not just for what they can contribute monetarily. Life experience and perspective come at different prices, and sharing them with others is free. Let’s continue to support these folks and celebrate their continued contributions to society.
If you or someone you care about needs additional support to help cope, The Option Group is here to help. Don’t hesitate to contact our professional care management team for assistance.
About The Option Group: Founded in 2010, The Option Group’s compassionate team of experienced Certified Life Care Managers and Educational Advocates provides services for families, their loved ones, medical professionals, and professional family advisors in Maryland, Northern Virginia, Southern Pennsylvania, and Delaware. The firm understands the challenges of caring for individuals who need assistance throughout their lifespan due to aging, dementia, disability, or serious illness. Our skilled providers possess over 100 years of combined experience navigating the healthcare maze and accessing hundreds of resources. The Option Group helps families spend quality time with their loved ones, providing clear choices that lead to better care. For more information, visit www.theoptiongroup.net or call 410-667-0266 (MD) or 717-287-9900 / 610-885-8899/ 215-896-6756 (PA) or 302-858-6449 (DE). For Minor & Young Adult Life Care Management or Educational Services, call Mary Jo Siebert at 410-967-0122 or 443-318-4244.
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