Midlife Is Now Considered To Be Ages 55 to 75...
And Most People Will Likely Live Well Into Their Nineties In Good Health And Enjoying A Productive Lifestyle.
“Population aging, fueled by declining birth rates and increases in life expectancy, is a mega trend that will continue in the US and many other countries for the next several decades. The doubling of lifespans in the past century and a half is one of the most remarkable success stories in human history. Over half of children now being born are expected to live to ages one hundred and beyond. Every business (and family I would add) needs to develop its strategy for the opportunities (and challenges) presented by the new longevity.” - Susan Wilner Golder
The math works, and there’s no escaping these facts.
Think about the implications that this will have on families, society, and the world.
Just as the “New Rich” was a concept coined a few years ago referring to a younger generation of multi-millionaires primarily because of technology and the internet…The “New Older” can be referred to as a new breed of older adults that are showing no signs of retiring, considering themselves over the hill, or definitely too old to play.
Even though this newsletter is essentially about how to best care for your mom and dad, or a loved one for that matter, and because I'll cover topics like LTC (long term care), family caregiving, self-care, and how to leverage the longevity economy… It doesn’t mean your parents have to be sick or convalescent for you to take advantage and even enjoy this information.
I recently helped my parents, my Mom in particular, cuz Dad doesn’t really like computers :-) book a 14-day cruise through Europe, with her sister and three of her eight grandchildren.
She’s barely set foot on the plane to Barcelona–Spain yet, and she’s already sketching next year’s adventure and who she wants as her entourage.
My Mom turns 79 this year and my Dad is 83, they’re healthy, and showing no signs of slowing down! They’re business owners ( who don’t consider themselves “entrepreneurs”, but that’s really what they are!) who carved out a life out of sheer will, hard work, and passion and mastery for their craft.
These “Old People”...my parents, aunts and uncles, and those of my friends’ and some colleagues I know of, have an insatiable appetite for life! I’m sure you’re experiencing the same thing with your own parents and “old timers” you know or are related to. They’re not ready to call it a day yet, not even close.
My generation should be stoked about this.
I’m a 54-year-old Cuban immigrant raised in South Florida, pure-bread GenXer in every sense of the word, and I’m more amped up about the next 40 years, than any other period in my life! These two generations (ours and our parents) are living through the most exciting and dynamic demographic shift in the history of the World.
In the time that it took you to read this, another 20 Americans turned 65. The rules of the game are changing, and everyone needs to understand how this shift will affect them and those they love.
These 2 megatrends (declining birth rates, and increasing life expectancy), as Simon Schurman from Super Age calls them, will shape our World in ways we can’t quite yet imagine. One thing’s for sure, opportunities in the longevity economy/movement will present themselves in many forms, but if we’re smart, observe, and listen, it will give us a chance to live fuller, happier, and more productive lives.
Let me bring this down to a level you can actually touch and feel.
For most people my age (in their fifties), our mindset, when it comes to our parents, hovers around concerns of home care, nursing homes and hospice. These thoughts and conversations, and thorough planning for these potentialities is not only smart, but necessary… and yet it’s becoming less and less the norm.
This of course hinges on whether our parents are healthy or not, granted.
I’m blessed to have healthy parents. But many GenXers and Boomers are starting to face potential caregiving challenges with their parents, from signs of early onset Alzheimers and dementia, to other debilitating chronic and acute conditions. In these cases, planning and having a solid understanding of the options and care managing strategies available is definitely important.
But many, like me, are not there yet!
And until that moment with my parents get here… The “New Normal” is what I’m faced with: Older adults well into their seventies and eighties who are healthy enough to enjoy life to the fullest!
Let’s address both scenarios and their impact on today’s GenXers and Boomers, and how dramatically different they can impact our lives.
First of all let’s start from the fact that the world considers us and our parents to be in the same bucket when it comes to needs and wants… even though we couldn’t be any more different.
To them, we’re ALL OLD!
This means the information will be muddled, compiled, and totally useless. If you don’t think so… Just watch how we're treated as consumers, and pay attention to the ads on TV and streaming platforms.
To many, we’re referred to as the “sandwich generation”… Getting squeezed by financial pressure from elderly (hate that term) parents needing care, and kids in college. When in fact most 50 year olds don’t support their kids in college, and their parents are still healthy and highly active… and it’s THEM who are heading back to school pursuing life-long learning goals. Also, it’s parents in their 60s and even 70s who many times support their adult children financially.
The reality is that many of today's 50- and 60-somethings are finding themselves in a very different position than previous generations. Our parents are healthier and more active into their 70s, 80s, and even 90s than ever before. This presents opportunities to enjoy life together in new and interesting ways.
At the same time, it's smart to have open conversations about future care needs and preferences. Aging doesn't mean disability, but being proactive and being smart about getting legal, financial, and independent living plans that create certainty and peace of mind. Get these out of the way, and go have fun!
Another thing is that our own interests and goals are shifting also. Rather than winding down into retirement, many in midlife are pursuing new careers, going back to school, starting businesses, taking up new hobbies, and traveling more. It’s a life-long learning journey for many of us at this point.
We're redefining what the second half of life looks like. And our healthy, energetic parents are right there with us. These inter-generational family dynamics, friendships, and activities can be incredibly rewarding.
There are also opportunities to learn from our parents' wisdom and life experiences. The more we bridge the generation gap, the more we realize how much we have in common and can gain from each other.
While care-giving responsibilities will come for some, it's not the whole picture anymore. With lifespans expanding and health spans being way more qualitative, these bonus decades are a precious chance to thrive together.
We're rewriting the script on what it means to age in the 21st century.