The New Age of Aging
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Age Wave’s latest study, The New Age of Aging, provides pivotal insights into what the rapidly unfolding future will look like as the older adult population skyrockets by at least 50% over the next 30 years. This study, based on a nationally representative survey of over 2,000 U.S. adults with over 900 adults age 50+, uncovered the following key insights:
- The demographic makeup of the U.S. is turning upside down as older adults will soon outnumber youth for the first time in our history.
- The definition of “old” has been pushed back twenty years, driven by a new breed of older adults.
- Seventy-one percent of today’s modern elders, adults 65+, say the best time of their life is right now or in front of them.
- We need to re-imagine purposeful roles for older adults, as 83% of adults 65+ say it’s more important to feel “useful” rather than “youthful” in their retirement years.
- We want our lifespans to match our healthspans, and we’re fascinated by the potential for even greater longevity; 71% of adults 50+ say they’d take a pill that would give them an extra 50 healthy years.
Entering the New Age of Aging
Old isn’t what it used to be. While age 60 was considered “old” in previous generations, now 80 is the median age. Today’s older adults are perceived to be more active, open-minded, and curious than the previous generation.
The Upside of Longevity
Older adults are at peak levels of happiness, and a large majority say the best time of their life is right now or in front of them. Our vocabulary is starting to reflect this shift towards aging as an ascent, not a descent. When discussing growing older, 68% of adults 50+ find the term “longevity” more appealing than “aging.”
Trading the “Fountain of Youth” for a “Fountain of Usefulness”
In this new age of aging, the importance of youthfulness has been replaced by usefulness. The survey found that 97% percent of adults 65+ agree that “it’s important to stay curious and be willing to learn new things throughout life.” Today’s elders increasingly want a continued sense of purpose and meaning.
Matching Healthspans to Lifespans
In recent decades, we have successfully extended our lifespans to 77 years, but our “healthspans” (the years of dependable good health) have not kept up, remaining at an average of 66 years. Americans will spend a median of 12.4 years living with a disability or serious disease.
Living and Leaving a Legacy
Two-thirds of adults 50+ think that values and life lessons are the most important thing to pass on to their heirs and loved ones, while only 22% said financial assets and/or real estate are the most important. In the new age of aging, this broader, more creative view of legacy and inheritance is poised to make a positive impact on tens of millions of American lives.
Conclusion
Today’s modern elders, inspired by the multiplying numbers of influencers in the new age of aging, are re-imagining new possibilities for their extended lifespans. Neighborhoods, workplaces, homes, medical systems, media, educational systems, transportation, shopping centers, etc., and our digital world—as well as all systems of government from the local to the national level—need to adapt as the older population grows like never before in history.