Financial Longevity
The Wealth-Health Connection: How Economic Status Shapes Well-Being
Dawn M. Carpenter
The Wealth-Health Connection: How Economic Status Shapes Well-Being
Dawn M. Carpenter
Understanding that financial security is a cornerstone of a fulfilling life, the Future of Aging initiative drives change in policies and practices that enable meaningful work lives. It addresses long-term care gaps and caregiving impacts and promotes a life-course approach to financial wellness. By advocating for policies that support sustainable income and retirement planning, the initiative helps build a future where every individual can enjoy their golden years without financial anxiety.
Areas of Focus
Addressing the rising costs of health care and prescription medications for aging populations. This area focuses on developing affordable insurance options and policies to manage long-term care needs, ensuring that older adults have access to necessary services without financial strain.
Highlighting the economic opportunities presented by an aging population, focusing on products and services tailored to their needs. It promotes tech-enabled financial solutions, such as FinTech innovations, and encourages cross-sector partnerships to create scalable solutions for financial longevity.
Evaluating and promoting the value of educating older adults on financial planning, including
budgeting, debt management, and preparing for health-care and housing expenses. It also
covers intergenerational wealth transfer strategies and aims to empower individuals to
recognize and avoid financial scams.
Advocating for reforms to ensure the sustainability and adequacy of social security benefits. It
explores policies like universal basic income to supplement older adults' income and examines
tax policies that support the financial well-being of aging individuals and their caregivers.
Promoting policies that support older adults in remaining in or re-entering the workforce, including opportunities for reskilling and upskilling. It encourages flexible work arrangements and entrepreneurship, as well as lifelong learning initiatives to help older individuals adapt to changing job markets.
Financial Longevity
Highlights
Supporting Family Caregiving: How Employers Can Lead
More than 53 million people provide unpaid care for loved ones, with 61 percent also holding paid jobs. Family caregiving impacts financial stability, career progression, and overall well-being.Read Report
Financial Longevity: The Key to Dignity in Aging
The fall is a time to celebrate the invaluable contributions of older adults. As we observe the United Nations' International Day for Older Persons and Ageism Awareness Day in October, and National Family Caregivers Month in November, it's...Read ArticleImageDawn M. Carpenter
Director, Financial LongevityDawn M. Carpenter, DLS, is the director of financial longevity at MI Health.
Shifting the American Retirement Saving Mindset
For most people in our country, the American Dream includes a successful career that allows for saving, followed by a comfortable, dignified retirement. And for many retirees in previous generations, the golden years were just that, with...Read EssayFor most people in our country, the American Dream includes a successful career that allows for saving, followed by a comfortable, dignified retirement. And for many retirees in previous generations...
We Aren’t Talking Enough About One Aspect of the Great Wealth Transfer
Over the next two decades, Cerulli Associates estimates that baby boomers and the Silent Generation will pass down a combined $84.4 trillion in assets to younger generations. Dubbed the “Great Wealth Transfer,” this phenomenon is already...Read EssayOver the next two decades, Cerulli Associates estimates that baby boomers and the Silent Generation will pass down a combined $84.4 trillion in assets to younger generations. Dubbed the “Great Wealth...
The New Care Ecosystem: Empowering Family Caregivers Through Technology
As physicians, family caregivers, and patients, we know firsthand the overwhelming challenge of navigating complex and disconnected health-care systems in support of a loved one. Family caregivers are the glue—filling gaps in care...Read Essay
Shifting the Retirement Paradigm: Moving toward Lifetime Financial Security
During the past two years, the Milken Institute has focused on how Americans manage lifetime financial security leading to a financially secure retirement. The Institute has delved into this topic by conducting research, meeting with...Read Report
Financial Literacy in the United States
The Financial Literacy in the United States report provides a comprehensive overview of the financial literacy landscape in the US. Unfortunately, our analysis paints a worrisome picture. The evidence suggests many individuals in the US...Read Report
COVID-19 and the Future of Aging
In this series, we have interviewed members of our Milken Institute Center for the Future of Aging Advisory Board who are leaders from business, health, academia, policy, and philanthropy. All aim to improve the lives of today’s older...Read Report
Pandemic Reveals Need for New Approach to Retirement Security
The pandemic revealed—if anyone hadn’t noticed—that millions of Americans live in a precarious financial condition. And, as if policymakers didn’t already know, the pandemic underscored the fact that the majority of Americans are...Read Essay
Featured Event Sessions
Financial Industry Leaders Revolutionizing America’s Retirement Landscape2024 Global Conference Session
Great Expectations: Retirement in the New Old Age2022 Global Conference Session
It's the Life in Your Years: Reimagining Retirement for Longer, Healthier Lives2021 Future of Health Summit Session