Beyond the Boomers: Facing the Global Challenges of Aging

Life expectancy for Americans is now 81 years for women and 76 for men. Those born in the U.S. between the boom years of 1946 and 1964 total some 75 million. While many of these older Americans are working longer than those of previous generations and living more active lives, about half of all U.S. adults — 117 million people — have one or more chronic health conditions and one in four has two or more conditions, according to a 2012 study by the Centers for Disease Control and Prevention.

Yet, for all of the attention focused on America’s baby boomers, they represent but a fraction of the world’s aging population. For example, China’s own boomer-like generation comprises some 450 million, or nearly 50 percent more than the entire U.S. population. India, meanwhile, is projected to face many of the same challenges when its boom generation begins to reach its later years in 2040. In fact, by 2050, 80 percent of the global aging population will live in the world’s less developed regions, according to the UN Department of Economic and Social Affairs Population Division.

Add to these factors the aging of the populations of Western European nations and Japan, which had their own post-war birth booms, and the global scale of what aging expert and Age Wave author Ken Dychtwald calls the “Longevity Revolution” grows clearer.

Challenges Are Individual and Institutional

The convergence of large aging populations and lower birth rates in succeeding generations is driving macro cultural shifts with distinctly micro consequences.

On the macro level, many governments around the world are challenged by greater numbers of older people to support and fewer younger workers to fund the systems that provide that support. Further, fewer workers and a decline in savings rates also resulting from the aging trend will reduce economic growth over the next 20 years, according to a recently released report by the credit rating agency Moody’s. Underscoring the global aging trend, the report also predicts that the world will have 13 “super-aged” nations — countries where more than one in five persons is 65 or older — by 2020, up from three today, and 34 such countries by 2030.

On the micro level, millions of individuals who are not financially prepared to finance longer-than-expected retirements must work longer than planned or make other basic life changes.

These and other demographic dynamics present an opportunity for both individuals and institutions: healthy aging. Improved health among our aging populations is good for society. It means more people living independently for longer, less disease and fewer chronic conditions that are as debilitating to the individual as they are expensive to treat. And for the individual, greater health in the later years can mean more freedom, more time to enjoy life, to play with grandchildren and pass along more wisdom to younger generations.

As the world’s population grows relatively older, the health of each nation’s aging population becomes an increasingly important factor of global economic health. This is why we need to take greater control of our health and make choices now that help us all enjoy our later years more fully, while minimizing the rate of expensive, often-avoidable disease that could burden us, our families and our fellows.

Confronting Your FOGO

Those who work in the biopharmaceutical industry, as I have for my whole career, are proud to say that the medicines we make account for more than 70 percent of the increase in life expectancy in recent years, according to a World Health Organization study. But we know that diet, exercise, emotional health and a variety of related factors are also critical to healthy aging.

That’s why at Pfizer we introduced our Get Old initiative in 2012 — to start and support a candid conversation about aging and what we can do to live not just longer but also healthier lives. Through our GetOld.com website, we’re providing information on healthy aging in a number of areas and encouraging each user to confront her or his fear of getting old, or FOGO, as we call it. And it’s working, with some 4 in 10 who have visited our site reporting that they have changed their eating habits for the better, started or changed an exercise routine and made other changes to live more healthfully. And through Facebook and Twitter we are building a community committed to healthy aging.

The importance of healthy aging cannot be overstated. The interdependence of the global economy’s component nations underscores its place at or near the top of government agendas around the world. Each nation needs to do its part to support healthy aging. Starting the conversation is the first step.

Photo: Veer

Judy, much appreciated post! The foundation to try and solve a problem is, first, to clearly identify it. Some more attention on food should pay off in China, probably by selecting true trace-able products, even if imported and possibly more expensive...

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Jeff Hopkins

Building Teams & Connecting People.

9y

Hey Ian. Maybe you should re-direct your concern away from people getting older and put a greater focus on your over-priced products. I know it means nothing to you because you sleep well at night, but some people cant afford your medications, not because they are expensive to produce, but because you and your board have agreed to price medications beyond what majority can afford and what insurance will cover. You have proven to have very little compassion for the people who need your service. We are at the mercy of your greed, monopolization and lack of heart. You should be ashamed of yourself. As the CEO and Chairman, maybe you could wake up and address this issue that millions face every day. Your product saved my life yesterday, but today I can't afford your Epi-Pen because it costs $380. So next time I have another allergic reaction and experience near dealth, I will blame you and your heartless organization.

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Judy Zhu

HR Director, IP Asia at International Paper

9y

I have thousand reasons to believe that people at our age (30~40) will be surrounded by health and psychology problem here in China at the upcoming aging time, since we eat the food with quality issues when we were young, and work in the high pressure environment without any psychological assistance program in place. Anyway, exercise is what we can do to minimize the decease and mental issue.

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Michael F. Mastroianni, RPh

CVS Licensed Pharmacist AND Immunizer in PA and NJ

9y

Hmmm, 10,000 everyday. What SHOULD that number REALLY be of it wasn't for a poor economy, depleted/devalued 401k's, and poor retirement planning.... much more I'd guess

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An excellent topic! In the US 10 000 baby boomers "retire" every day , but most didn't save enough .. money to go for the next years, this Tsunami is one of a lifetime .. Children move in with parents (" after college ") , parents move in with grand parents. Everybody who knows me, knows that I predicted this 10 years ago ... P

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