Can you explain what the Longevity Economy is all about?
– Gloria Z.
The now ubiquitous term, “Longevity Economy” was coined by Jody Holtzman on behalf of AARP, now founder of Longevity Venture Advisors, LLC, defined it as the sum of all economic activity related to serving the over 50 demographics in the U.S. In Europe, it is called the “Silver Economy.”
This economic activity serving this demographic has benefits for all generations. For instance, maybe by designing a new retirement financial product or more affordable LTC products. Or you might be creating new socially impactful designs for new housing initiatives to enhance and expand aging-in-place or shared housing. Or perhaps you’ll be creating age-friendly cities or new technology that’s easy for every generation to use, but starts with innovations around living well with arthritis, etc.
The fifty-plus population contributed $8.3trillion to the U.S. economy in 2018, is projected to rise to $28.2 trillion by 2050. The Longevity Economy is a wellspring for innovation and intergenerational collaborative, problem solving.