The first boomers are about to turn senior. One might think that the excitement of the first boomer turning 65 in January would have waited a few weeks closer to January, but silly me. So one boomer will turn 65 every 8 seconds starting in January. Is it the beginning of one of society's great tragic periods -- too few jobs, dwindling public funds for safety nets, declining health, and a fundamental recasting of the societal dependency ratio (see WSJ article)? Or will it be the beginning of a long and joyous 'senior boomer' or 'booming senior' marketing marathon that rises and then slowly ebbs over 30 or 40 years when the 46-year-olds run out of money and steam? Your perspective may vary: it matters whether you make a product for an aging population but want to move the age downward and broaden the appeal (see GreatCall). Or whether the opposite is true and you're Toyota and want to create a vehicle that will tackle problems of aging head on (no pun in tended). Or whether you're in a complex senior-focused market, like MetLife and long-term care insurance, where the economics of longevity and the recession have both shrunk the target buying audience and made the cost of claims untenable.
Market indifference -- the mobility gap. You've seen the driver -- too short to see over the wheel, too timid to change lanes safely, maybe taking multiple chronic disease medications -- and still driving. In 15 years, 1 out of 5 drivers will be 65 or older. "The result is a 'mobility gap,' Joseph Coughlin, head of the Massachusetts Institute of Technology's AgeLab, which develops technologies aimed at keeping older people active" said in an interview. Cars can be made smarter, he says, to help save us. But as a society and marketplace, what are the solutions for today's older driver -- let's say just those 4 million above the age of 80? They can call the bus, take the RIDE, ask a friend, but as the current scenario stands -- to stop driving is, as he says, to be on 'house arrest'. Who would want to tell them to stop driving with this patchwork of transportation alternatives, especially in the suburbs where most live?
Short Hills, NJ, October 31, 2010 -- By 2030, the 65-plus population will double to about 71.5 million, and by 2050 will grow to 86.7 million people, according to the U.S. Census Bureau. With baby boomers remaining active into their golden years and the economy facing a downturn, more retirees will stay in their existing homes and choose to “age in place” rather than relocate to retirement housing and senior communities.
The Social Network -- an oh-so-modern tale. Who cares about Mark Zuckerberg? The new movie, "The Social Network" tries to make you care. It makes for a good viewing experience, a well-made movie that holds your interest throughout -- not so easy to do with camera shots of young, obnoxiously clueless nerds sitting in front of screens-full of code. It's the story of Mark Zuckerberg, Facebook founder and almost-youngest self-made billionaire (apparently one of his co-founders was 8 days younger). What a guy, at least as depicted -- sued by his best and apparently only friend, sneering at his soon-to-be-ex-girlfriend online, and who may sue movie makers who placed him in a cynical spotlight. Eh, who cares? The central character/hero of the movie is Facebook itself, with its meteoric explosion from a university-network socializing tool to today's 500 million-and-beyond universal platform for helping everyone in the world share their private information and believe they are connected to something and somebodies -- and now, with ads too!
Nice goal, but how to age in place? In the pendulum swing of all 'aging in place' all the time, a murky target has been set, but the tactics are more like a meandering and treacherous hiking trail than a well-marked pathway. Some of us will pick up and leave for a more service-rich environment in advance of need, usually at an age or level of actual or anticipated limitations. But these service-rich environments, typically Continuing Care Retirement Communities (CCRCs), represent a relatively small proportion of older age range of the 65+ population. And CCRC moves require sale of a house, downsizing of possessions, and a move that can be a traumatic change. In addition, these 'enclaves' (as described in a recent NY Times article) are not without financial issues. Certainly the word 'continuing' is a misnomer unless one counts a campus change to a smaller space for both person and possessions as not really moving.
