Conference Presentation, Panel
The Upside of Aging: A Conversation in the Pavilion
Milken InstituteMike Morseberger, Barry Rand, Frida Lewis, Steve Knapp, Mark Friedman, Hasi Cohen, Henry Cisneros, Bob Wheelan, Brooke, Jeff Schatz, Andrew, Rita, Gary, Britta
- The U.S. is projected to become the first nation to experience radical aging and a majority-minority demographic shift, serving as a global laboratory for aging solutions that China may implement within 10 to 15 years, while Japan, Korea, and Germany face unsustainable models where 40 to 50 percent of their populations will be over 60.
- Retirements lasting up to 30 years driven by increased longevity render the traditional linear career model and early retirement unsustainable, necessitating a paradigm shift toward continuous learning, hybrid education, and new skills development as universities face declining older adult enrollment.
- Significant demographic changes will force cities to address physical barriers, security, and transportation for aging residents, with the District of Columbia expected to release a strategic age-friendly plan incorporating village movements by the end of this year.
- Personal genomics, digital technologies, and advancements in Alzheimer's interventions are expected to dominate health planning within five years, shifting the societal focus from disease management to wellness preservation and prevention.
- Within five to ten years, technological health decision tools will emerge, local village networks will see increased innovation, and the majority of Americans will be actively involved in wellness preservation, while a surge in self-care is anticipated from baby boomers.
- Economic pressures, including obesity costs estimated at roughly one trillion dollars annually and labor shortages in healthcare, are expected to drive the repurposing of older adults as skilled and unskilled workers to fill critical gaps in home care and education.
- A talent arbitrage opportunity is emerging as organizations realize retaining older workers improves performance, though challenges remain in overcoming youth-oriented cultural norms and the lack of investment in older entrepreneurs.
- Future societal structures will likely feature increased participation of older adults in universities and communities, driven by a demand for purpose, the shrinking pool of younger students, and the recognition that the 55 to 65 age demographic possesses the highest human capital globally.