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Solving the Longevity Wealth Crisis
The oldest age at which 50 percent of babies born in 2007 are predicted to still be alive in the United States is 104, according to the Human Mortality Database, the University of California, Berkeley, and Germany’s Max Planck Institute for Demographic Research. On the surface, it is an astounding statistic. At the same time, it only incorporates what we now know. With the rapid development of CRISPR gene editing and other healthcare advances moving medical science fr...
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Matching Workplaces to the Needs of Older Workers
Perceptions about age and the workplace are evolving. Just a handful of years ago, it was the expectation that older workers should leave the workplace at 65 years—a “retirement age” that dates back to the late 19th century. The recently released 17th Annual Retirement Survey from the Transamerica Center for Retirement Studies that interviewed more than 1800 employers of for-profit companies with five or more employees notes that many of today's workers envision worki...
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How Universities Drive Innovation in Aging
Aging is big business.A growing demand for everything from comfortable shoes to on-call caregivers prompted a New York Times headline to declare baby boomers as the hottest start-up market in 2016.In fact, the sum of all economic activity devoted to serving the needs of more than 110 million Americans over age 50 now exceeds $7.6 trillion, a staggering amount that surpasses the total gross domestic product of any nation except the U.S. and China, according to an AARP/...
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The Mixed Signals Businesses Send Older Workers
I recently read an article in The New York Times about tennis great Roger Federer and how he, at 36 years old, is experiencing a late-career resurgence. It is as though age is no longer a limiting definer.[1] No one in pro tennis, save maybe his opponents, is pushing Federer to leave or asking him when he’ll retire. His age is just another data point for his Greatest of All Time (GOAT) status. So, age both matters and it does not matter.This got me thinking about the ...
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Harvard Business Review’s Must Reads 2020 features Milken Institute’s Paul Irving
“Ignoring the realities of the demographic shift under way is no longer an option” Paul Irving, chairman of the Milken Institute’s Center for the Future of Aging, is among a select group of authors whose work will be published in Harvard Business Review’s annual Must Reads collection. HBR’s 10 Must Reads 2020: The Definitive Management Ideas of the Year from Harvard Business Review includes “When No One Retires,” in which Irving examines the impact of...
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The Mixed Signals Businesses Send Older Workers
I recently read an article in The New York Times about tennis great Roger Federer and how he, at 36 years old, is experiencing a late-career resurgence. It is as though age is no longer a limiting definer.[1] No one in pro tennis, save maybe his opponents, is pushing Federer to leave or asking him when he’ll retire. His age is just another data point for his Greatest of All Time (GOAT) status. So, age both matters and it does not matter.This got me thinking about the ...
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Why Isn't Innovation Booming for Aging Boomers?
Baby Boomers (born between 1946 and 1964) have and will continue to reshape the population—we should be reshaping business to meet their changing needs as they age.We are completely under-investing in and under-serving older adults in this country and around the world—and it’s wild because the opportunities for great social benefit while building large, sustainable businesses are massive. The question is, why? We all know that the over-65 population is rapidly growing...
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Multigenerational Workforces Are Productive and Profitable
Work dominates much of our adult lives. For many recent generations, work, family, and community comprised the entirety of our adult lives, with education occupying childhood for the lucky ones. Over time, a legal and regulatory framework was negotiated around these structures—compromises to ensure employers had the labor force they needed to optimize productivity and profitability. Workers had basic rights and protections to ensure they would be paid, had some time a...