It's here already: "The Longevity Economy"
Report from Stanford University Business School: "Those who stay ahead of the curve on serving older customers could become massive winners"
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The current issue of Stanford Business is looking at the impact of longevity, concludes we’re in “the longevity economy.”
This article summarizes the key takeaways:
“Older consumers” control “an increasingly large slice of GDP and account for about half of all consumer spending. Robert Chess, who teaches a Stanford course on olde consumers and workers, “compares ‘the longevity economy’ to the computer industry back in the 1980s, stating that those who are ahead of the curve on serving older customers will becomes ‘massive winners.’”
There will be new life paths and new life stages, rather than the old model of “learn, earn, retire”
On the other hand, ageism could become an even bigger problem, especially in the workforce.
Intergenerational solutions will become increasingly important
The article offers a good quick basis for the topic, but there’s much more detail in this second article from Stanford, “We Have 30 Extra Years: A New Way of Thinking About Aging.” The article notes that the “longevity economy” is worth a staggering $22 trillion worldwide ($8.3 trillion in the USA), and that figure may be conservative:
”AARP…estimates that people over 50 already account for half of consumer spending worldwide.”
By 2035, people over 65 will outnumber people under 18 in the USA for the first time ever. By 2050, they’ll outnumber people under 15 for the first time ever.
The world now contains equal numbers of toddlers and octogenarians.
I urge you to read the full article, because it goes on to detail the many areas of society that will be totally revolutionized by longevity.
This is exactly the theme of the new book I’ve co-authored with Larry Wolf, SuperAging: Getting Older Without Getting Old. We described the “old model” (learn, earn, retire) as DefaultAging, and the new model — in which the average 65-year-old may have 25 or 30 years (or even more) of added lifespan — as SuperAging. All of the changes and opportunities outlined in this article from Stanford are explored in detail in our book — along with a practical plan to make SuperAging a reality in your own life.
It’s official! SuperAging is now on the market - our publication date was April 25.
And our sales are off to a great start!
If you haven’t already done so, please visit our website at SuperAging.info to learn more about the book, to order online (direct links to the many online retailers offering the book), and to sign up for our free e-newsletter. This is a topic where new information is pouring in all the time, so we hope you’ll use our website and e-newsletter as a good way stay up-to-date!