If we don’t invest in it and innovate around it, millennial retirements will not become a beachfront home in Boca Raton. It is the fateful appearance of registering a GoFundMe page for long-term care.
Social Security uncertainty and policy changes are driving more people to submit
With the huge increase in social security applications, retirees are facing financial decisions affected by law and economic concerns in today’s climate.
Scripps News
My grandfather lived in 99. He built a business, raised his family, retired early and matured into a system he actually worked for. He didn’t beat the odds. America has built odds. social security. Medicare. pension. community. These were intentional policies and social infrastructure designed to make aging aging look dignified, something you could plan for.
Like many millennials, I grew up believing that the system my grandfather relied on didn’t exist for us. So I leaned towards the idea that “life is too short to worry about that.”
It’s ironic. Life today is actually longer than the highest generation born between 1901 and 27. And it’s not just life expectancy that’s expanded. It has also been extended for several years when we can work, be parents and enjoy healthy and active lives.
However, the legacy programs we inherited were not built for 30 years of retirement, double-income households, or pension-free gig work. Instead of modernizing it, I patched the holes. Today, policymaking is constrained by the election cycle, where sound bites win healthy policies.
Investment is necessary to support the aging of the US population
The Trump administration targets budget cuts and promotional efficiency, but the private sector has been largely uncoordinated. Technology designed to help people with age is still considered a niche, and many investment funds have not yet been readjusted due to the size of this opportunity. It’s the dynamics of chicken and eggs. Low capital means fewer startups, fewer startups have less traction, and less traction keeps capital on the bystanders.
Meanwhile, we are launching billionaires and celebrities into space. But you don’t need to see the stars for a growing market. The real opportunity is close to home: the longevity economy. It’s here and it’s one of the most predictable and return opportunities we have.
If we don’t invest in it and innovate around it, millennial retirements will not become a beachfront home in Boca Raton. It is the fateful appearance of registering a GoFundMe page for long-term care.
Aging is not an option, but doing so with dignity is beginning to feel that way. Aging is essentially not a burden on the economy. But it is the burden of the individual navigating it without adequate support.
Over 50 million Americans provide unpaid care to their loved ones each year. Their collective labor is valued at $600 billion.
However, caregiving is barely registered in economic models and public planning. We have deferred the cost of aging for decades by approaching it like a personal problem that is managed personally. If you don’t treat aging as an investment system, you’ll continue to pay in all the wrong ways.
The data is clear. The longevity economy driven by people over 50 has already generated $45 trillion in annual economic activity around the world. That figure is projected to reach $118 trillion worldwide by 2050.
Elderly people outperform younger generations in healthcare, housing, travel and financial services. They are driving demand, but the supply side remains capital shortage.
US healthcare alone accounts for $1.9 trillion per year. Real estate, aging techniques and home renovations are booming. Elderly Americans are also spending more on leisure and entertainment, increasingly demanding digital-first, personalized experiences.
Aging population creates opportunities for growth
Aging by design pays dividends. Not only socially, but economically. The earlier you build this reality, the greater the return. But the market won’t continue until the message leads.
So we will partner with Venture Vitamins – a think tank I founded – AARP to convene over 80 thought leaders in 2024 and early 2025 in four cities. These roundtables, together with innovators, healthcare professionals, scientists, scientists, and policy-making, attracted investors representing more than $2 billion in assets under managed and deployable capital.
What emerged was the beginning of a coordinated effort between those who form what was constructed, profits, and who would pay for it.
We addressed four important questions. Where should I invest? What do innovation need? What policies are actually useful? And what does aging look like?
Insights became the basis for our white paper. This is a business case for investment in a longevity economy.
AARP remains a major force in mobilizing capital through the AARP Agetech Collaborative. However, to get the full potential of this market, a coalition of investors, institutions and builders is needed.
America is a central capitalist. But we can A capitalist with a heart. Silicon Valley is looking for the “next big thing” but don’t overlook the certainty.
Heather Carter is founder and general partner First Money Fundan early stage venture fund focused on the longevity economy. She is also the founder Venture Vitaminsa think tank working at the intersection of aging, innovation and investment.
