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Reaching Your Mid-60’s? Here’s What You Should Know

Before the full retirement age was changed to 67 by the U.S. government (for those born after 1960), 65 was the golden age. And for most, 65 remains the standard entry point to senior citizenship.

The “Grey Tsunami”

Americans are turning 65 at a faster rate than ever before.

The U.S. Census Bureau calls this phenomenon the “gray tsunami,” with one in six Americans now 65 and up.

A larger portion of the population reaching retirement age means strain on the Social Security system, national tax intake, healthcare system, and already-flailing long-term/in-home care industry.

Our systems and industries revolving around retirement have work to do in preparation for the influx of retirees headed their way, but you can prepare for what is to come, too. Here’s a few things to know that might come with reaching 65 and beyond:

Avoiding Scammers

In 2021, the FBI reported that more than 92,000 people aged 60+ were scammed via the internet to a combined amount of almost $1.7 billion. This was more than all other age groups.

As you reach your mid-late 60’s, you become a prime target for government-coded and sweepstakes-like scams. Be cautious of any sudden prize winnings or government agencies that reach out to you via phone or email. Always do your due diligence before handing over any personal information or money.


Age discrimination has been outlawed for nearly six decades, but according to the AARP, two out of three employees aged 45-74 have reported experiencing age discrimination at work.

The Journal of the American Medical Association published a study that reported 90% of those between ages 50 and 80 have experienced ageism in their daily life.

If you find yourself searching for a job after 65, AARP has resources to assist with the search as well as courses on avoiding and navigating age discrimination.

More Prescribed Medications, More Aches and Pains

As people age, taking on more prescription medications is often par for the course. The Marcus Institute for Aging Research reports that those 65 and up are more frequently prescribed medications than any other age group. More than half of those reporting record four or more medications being taken regularly.

Common medications for those 60+ include beta blockers, antidiabetics, and lipid-lowering drugs.

Medications are often a response to changes in your health and body’s functionality. The Mayo Clinic reports that as one ages, they can expect the following: weakening of bones, intestine and bladder structural shifts, stiffening of blood vessels, and potentially minor effects on brain capacities such as multi-tasking and thinking skills.

Reaching the age of 65 also puts you at a higher risk for developing chronic conditions like asthma, cancer, or arthritis.

A Few Perks

Senior Living provides a full picture of the senior discounts and perks that come with reaching the age of 65, but benefits include senior discounts at grocery chains, early bird specials at restaurants, unique membership programs for seniors at all kinds of businesses, and travel discounts through companies like Amtrak, national parks, and various cruise lines.
Tax breaks also come into play when you turn 65. Your standard tax deduction from the IRS increases and some states like Maryland also offer increased tax exemptions.

Turning 65 and heading toward retirement can be daunting, but it doesn’t have to be stressful. Financial professionals that specialize in working with retirees can offer more than just financial advice and strategy. Their relationships maintained with their client base for years and years has allowed them to gain knowledge and wisdom about the retirement years beyond the finances.

To schedule a complimentary financial review with Moore’s Wealth Management, click here or call our office at 770-535-5000, where a staff-member is awaiting your call Monday through Friday, 9AM to 5PM.











This material is provided as a courtesy and for educational purposes only.  Please consult your investment professional, legal or tax advisor for specific information pertaining to your situation.  Diversification and asset allocation do not assure or guarantee better performance and cannot eliminate the risk of investment loss.  As with any investment strategy, there is the possibility of profitability as well as loss.

All information contained herein is derived from sources deemed to be reliable but cannot be guaranteed.  All views/opinions expressed in this newsletter are solely those of the author and do not reflect the views/opinions held by Advisory Services Network, LLC.

This article may contain links to articles or other information that may be on a third-party website. Advisory Services Network, LLC is not responsible for and does not control, adopt, or endorse any content contained on any third-party website.

Advisory Services Network, LLC does not provide tax advice.  The tax information contained herein is general and is not exhaustive by nature.  Federal and state laws are complex and constantly changing.  You should always consult your own legal or tax professional for information concerning your individual situation.


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