By Chris Farrell – Morningstar.com
Population aging is one of the most significant forces shaping the U.S. and world economies.
Thanks to cumulative effect of medical, educational, and social advances, about half the people born in the U.S. after 2007 are projected to live to 100. (Average life expectancy has fallen in the U.S. over the past two years, primarily reflecting the ominous combination of the pandemic and opioid crisis.) The diversity of experiences among older adults living longer in the U.S. is wide with growing numbers working well into the traditional retirement years or starting new businesses, while many others struggle with economic insecurity and social isolation.
Like climate change, the demographics of longevity will broadly reshape the economy and society. “How do you prepare for a 100-year life,” says Susan Wilner Golden, director of dciX at Stanford Distinguished Careers Institute at Stanford University and author of Stage (Not Age).
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