BUSINESS

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Demographics, Generations, Lifestages

Curated articles highlighting business opportunities and innovations driven by powerful population trends

Starbucks to help Chinese employees pay for aging parents' health care

Starbucks, known in the U.S. as a champion for employee rights and welfare, is working toward the same reputation in China. The company announced today that as of June 1, 2017, it will offer a critical illness insurance plan for the parents of its eligible full-time employees in company-operated stores across mainland China, according to a news release. READ MORE

April 11, 2017. Fastcasual.

Categories: Asia, Health care

Millennials in China are Twice as Likely to Own Homes as Young Americans

Seventy percent of young adults in China are homeowners, according to a recent HSBC survey. The study, which looked at more than 9,000 people born between 1981 and 1998 in nine countries, found that the home ownership rate of Chinese millennials is nearly double the global average.

Mexico, with 46% of millennials owning their own homes, was the next highest country. By comparison, only 35% of American millennials are property owners. READ MORE

April 10, 2017. Time Magazine

Categoires: Asia, Millennials, Housing

 

Will Boomers Lead the Next Startup Explosion?

There is a significant trend toward self-employment and entrepreneurship among people who are 50 and over, documented in the just-released Senior Entrepreneurship Report, co-sponsored by Babson College, Universidad del Desarrollo, Universiti Tun Abdul Razak, and Korea Enterprise Foundation. The report found that the percentage of people over 50 who are self-employed exceeds those who are under 30. READ MORE

April 8, 2017. Forbes.

Categories: Boomers, Entrepreneurs

Singapore offers U.S. a glimpse of what may come

The U.S. doesn’t have a vision like Singapore’s, said Joseph Coleman, a journalism professor at Indiana University and author of the 2014 book, “Unfinished Work: The Struggle to Build an Aging American Workforce.” Last year, Singapore launched a $2.2 billion program with over 70 initiatives on health, transportation, education and housing for the elderly. Subsidizing skills retraining for older workers is one key part of the plan. Another is called “re-employment.” READ MORE

April 5, 2017. USA Today.

Categories: Asia, Workforce

Wall Street Facing Headwinds as Boomers Forced to Liquidate Their IRAs, 401Ks

Under the law those reaching age 70 and a half must start taking their “required minimum distributions” (RMDs) from their various tax-deferred accounts. These include IRAs, 401Ks, profit-sharing plans, and SEPs. The trouble is that there are so many of them, and they control so many assets, that their RMDs are going to put enormous pressure on the stock market, according to Chris Hamilton, writing at his Econimica blog. READ MORE

March 28, 2017. The New American.

Categories: Boomers, Money

Avamere Pilots IBM ‘Watson’ Tech for Precision Senior Care

Watson, the IBM cognitive computing system that gained fame for beating human Jeopardy! champions at the game, soon could enable more precise care and services in senior living. The technology currently is being piloted by Wilsonville, Oregon-based Avamere Family of Companies, in its independent living, assisted living, and skilled nursing settings, as well as through its Infinity Rehab arm. The idea is to harness Watson’s ability to crunch and interpret massive amounts of data in order to inform better decision-making. READ MORE

March 28, 2017. Senior Housing News.

Categories: Housing, Technology

Retirement Planning: Boomers Navigate Impact of Financial Crisis

According to a new study, only two percent of middle-income Baby Boomers feel the economy has fully recovered from the financial crisis that began in 2007. The survey, “10 Years After the Crisis: Middle-Income Boomers Rebounding But Not Recovered,” by Bankers Life Center for a Secure Retirement, finds that Boomers' lack of trust in institutions has led to permanent financial impairment. “[Before the Great Recession] Boomers had a clear vision of what a personally satisfying retirement looked like,” said Scott Goldberg, president of Bankers Life. “But today, many are realizing they will not be as financially independent in retirement as they once expected.” READ MORE

March 26, 2017. Fox News

Categories: Boomers, Money

City Needs Plan To Deal With Explosion In Senior Population

With New York City’s population aging, Comptroller Scott Stringer said the city needs a path forward to help seniors age in their homes. “We want to jump start a long-term conversation so that by the time even more baby boomers are ready to retire, they have options to age with dignity, right here in New York City,” he said. In a new report, “Aging with Dignity: A Blueprint for Serving NYC’s Growing Senior Population,” Stringer noted that from 2005 to 2015, the number of New Yorkers over 65 surged by 19.2 percent. That is more than triple the rate for the growth of the population of those under 65. READ MORE

March 21, 2017. CBS.

Categories: Communities, Population aging

Japan has no fear of AI — it could boost growth despite population decline, Abe says

Governments across the world may be fretting over the impact of artificial intelligence (AI) and automation on employment, but Japanese Prime Minister Shinzo Abe said Sunday his government does not fear the technology. Japan is struggling with a declining and aging population, and sluggish growth. Abe said AI could actually help the country to grow. READ MORE

March 19, 2017. CNBC

Categories: Asia, Population aging, Technology

Millennials Follow Brands; GenX , Contests; and Boomers, Promotions

According to The 2017 Sprout Social Index, compiled and released by Sprout Social, and conducted by Survata, an independent research firm in San Francisco, 1 in 10 messages actually get a response from a brand, 30% of Millennials engage with a brand on social at least once a month, and 14% of Baby Boomers initiate conversations with brands on social at least once a month. READ MORE

March 16, 2017. MediaPost

Categories: Generations, Marketing

'No place to grow old': How suburbs can be more senior-friendly

A new report calls on Canadian municipalities to make suburbs more “age-friendly” so that seniors who can no longer drive don’t end up isolated. The report released by the Institute for Research on Public Policy says a rapidly aging population means that cities and towns “must refocus community planning efforts to deal with the impact of decades-old, car-dependent suburban sprawl.” READ MORE

March 15, 2017. CTV News

Categories:  Communities, Population Aging

More Than 40% of Americans Are Wrong About Their Retirement Preparedness. Are You Among Them?

A new study by the Center for Retirement Research at Boston College (CRRBC) says that more than half of working-age Americans are at risk of seeing their standard of living drop in retirement. What is surprising the number of people the researchers identified who believe they're on track to a secure retirement but aren't (according to the researchers) and, conversely, how many are worried they're falling short but are actually doing fine. READ MORE

March 15, 2017. Time Magazine

Categories: Retirement, Money

Boomers Going Out with a Bang: A Historic Transfer of Wealth

Over the next few decades, Baby Boomers will pass down an estimated $30 trillion in assets to their children and grandchildren. READ MORE

February 2017. Kiplinger

Categories: Boomers, Money

China's Aging Population Becoming More Of A Problem

China's getting old. In fact, they are getting older faster than anywhere else in the world. And the Chinese government has a very weak safety net to cover for them all. READ MORE

February 21, 2017. Forbes

Categories: Asia, Population Aging

 

Why Millennials are better with their money than their parents

When it comes to finances and saving for retirement, Millennials are doing better than their older counterparts in many ways. While many in the millennial generation faces financial challenges that are unique to their age group, such as paying off a heavy burden of student loan debt, many are taking important steps to get on a path toward a more secure and comfortable financial future. READ MORE

February 21, 2017. Christian Science Monitor.

Categories: Millennials, Money

 

Asian Millennials Face Critical Retirement Finance Crunch

A new survey of Asian investors reveals that millennials in the region are at substantial risk of a cash crunch during their later years, with many expecting to carry mortgage debt into retirement or even run out of money altogether.  READ MORE

February 21, 2017. Asiaone.

Categories: Asia, Retirement

How Older Workers Could Help Save America From Workforce Peril

If older workers continue to stay in the labor force longer, aging won’t be as much of a drag on labor force participation. That would help to stabilize labor force growth, keeping the economy expanding more than it otherwise would. READ MORE

February 20, 2017. Bloomberg

Categories: Workforce, Population Aging

Senior Housing: An Attractive Trap?

While most believe that senior housing in China is in serious undersupply, China’s senior care beds as a percentage of the senior population is already close to that of Japan’s. Senior housing has increased exponentially over the past years, which will lead to nationwide oversupply in the near future. China needs eldercare operators, not senior home builders. READ MORE

February 16, 2017. DBS.

Categories: Housing, Asia

Boomers’ Retirements Clouded by Debt

Baby boomers, who should be looking forward to retiring comfortably, are instead crushed by debt, according to The Wall Street Journal.  Americans ages 65 to 74 hold more than five times the borrowing obligations Americans their age held two decades ago, according to the Employee Benefit Research Institute. Median savings for U.S. households nearest retirement age has dropped 32% in the past decade to $14,500. “This is the first time where we have seen such a high degree of debt held by people at such a late stage of life,” said Torsten Slok, chief international economist at Deutsche Bank AG. READ MORE

February 16, 2017. Barron’s

Categories: Retirement, Financial, Boomers

 

Could a Brookdale-Holiday Merger Follow $3.3 Billion Fortress Sale?

Fortress Investment Group (NYSE: FIG), the investment management firm behind Holiday Retirement and New Senior Investment Group (NYSE: SNR), will be acquired by Japanese technology giant SoftBank Group for about $3.3 billion in cash. The companies confirmed the deal late Tuesday, after The Wall Street Journal first reported on it. The acquisition has sparked speculation about the potential for major—even industry-transforming—future plays in the senior housing space. The Fortress transaction comes at a time when the senior housing sector already may seem ripe for big changes, as the largest provider in the nation, Brentwood, Tennessee-based Brookdale Senior Living (NYSE: BKD), is rumored to be in takeout talks with private equity behemoth The Blackstone Group. READ MORE

February 15, 2017. Senior Housing News

Categories: Retirement, Housing

 

China’s ‘silver’ economy offers promising outlook for services sector

Estimated total consumption by the 65-plus age group in China will increase seven-fold to US$ 2.8 trillion by 2030 from US$400 billion now. What’s also interesting is that today’s “silver economy” in China is different from tomorrow’s, as generations have different values, attitudes, and consumption patterns. Currently, those aged 70 and older in China are predominantly poor. Tomorrow’s “silver economy” is the generation from 35 to 54 years old. This group is open to Western brands and are more educated than their predecessors. READ MORE

February 17, 2017. South China Morning Post

Categories: Population Aging, Asia

Millennials and Boomers feel like they’re living in two different Americas—and that’s a big problem

If only those over 65 voted, estimates predict Donald Trump would have won in an Electoral College landslide, approximately 351 to 182 (with 5 votes too close to call). By contrast, if all voters were under 29, Hillary Clinton would have won in a complete shutout: 538 electoral votes to zero. It wasn’t always like this. READ MORE

February 15, 2017. Quartz

Categories: Politics, Generations

Nobody Is Moving, Especially Millennials

According to new data tracked down by Richard Fry for Pew Research, just 20 percent of 25- to 35-year-olds (Old Millennials, if you will) reported having lived at a different address the previous year. In 2000, a full 26 percent of Gen-Xers — then at the same age range — had reported making a move in the previous year. READ MORE

February 13, 2017. New York Magazine

Categories: Housing, Millennials

 

How Ford Hopes to Win Over Gen X-ers With Its New Giant SUV

Automakers have traditionally focused on selling SUVs to the two largest segments of the population: baby boomers and millennials. The Expedition is different; it's aimed at Gen X parents who likely have more children, more disposable income, and greater cargo needs than the other two groups. READ MORE

February 7, 2017. Fortune

Categories: Auto, Generation X

 

Population aging may crimp Korea's monetary policy: report

South Korea's rapid population aging may make the country's monetary policy virtually ineffective down the road by neutralizing its ripple effect on the real economy, a report said Tuesday. According to the report based on the data of 25 members of the Organization for Economic Cooperation and Development between 1995 and 2014, an interest rate hike led to the conventional ripple effects of dwindling household consumption, a fall in stock prices and declining household debt in countries, with the ratio of people aged 65 and older reaching 15.4 percent and less. In contrast, countries with higher ratios failed to experience statistically meaningful responses from rate hikes. READ MORE

February 7, 2017. YonHap News

Categories: Population Aging, Asia

 

Thanks to Boomers, this Housing Sector is Hot

Here’s one reason that builders may not be constructing the starter homes that have remained elusive for many millennial buyers: They’re focused on their parents. The market for homes catering to residents age 55 and older hit a record high in the fourth quarter, according to a new report from the National Association of Home Builders.  The 55+ housing market index jumped 14 percent in the quarter amid strong sales, expected sales and traffic of prospective buyers. READ MORE

February 2, 2017. The Fiscal Times

Categories: Housing, Boomers

 

These Countries Are Struggling the Most to Support Their Retirees

The world’s working-age population is shrinking faster than expected, leaving fewer people to support a growing number of seniors, according to the Bloomberg Sunset Index. Conventional measures of old-age dependency calculate the ratio of people ages 65 and older with those of working age: 15 to 64. But many people stop working well before 65: Men in 66 percent of the 177 countries Bloomberg evaluated and women in 78 percent can begin receiving retirement benefits earlier. READ MORE

January‎ ‎31‎, ‎2017. Bloomberg

Categories: Global, Population aging

 

Deloitte's sixth annual 'Millennial Survey' shows dip in confidence

Deloitte’s sixth annual Millennial Survey, found that young people are less likely to leave their current jobs, are more concerned about purpose in their work, and not optimistic about where their countries are headed as 2017 begins. The survey, conducted by Deloitte Global, polled approximately 8,000 millennials across 30 countries during September 2016. READ MORE

January 31, 2017. Accounting Today

Categories: Millennials

 

A Housing Crisis for Seniors

Thoughtfully designed housing for older adults is not being created on a scale commensurate with the growing need. It’s not a market many architects or developers have embraced. Conversely, a disproportionate amount of attention has been focused on the presumed desires of millennials. READ MORE

January 28, 2017. New York Times

Categories: Housing, population aging

Generation X More Addicted to Social Media Than Millennials, Report Finds

Adults 35 to 49 were found to spend an average of 6 hours 58 minutes a week on social media networks, compared with 6 hours 19 minutes for the younger group. More predictably, adults 50 and over spent significantly less time on the networks: an average of 4 hours 9 minutes a week. READ MORE

January 27, 2017. New York Times

Categories: Technology, Generation X

A Challenge to the ‘Secular Stagnation’ Theory

Economists have been worried that aging populations in the developed world will hold down economic growth. A new working paper released by the National Bureau of Economic Research challenges that view. The paper, by Daron Acemoglu of the Massachusetts Institute of Technology and Pascual Restrepo of Boston University, argues aging populations have not had a negative effect on the growth of per-capita gross domestic product. In fact, some aging countries have seen faster growth. The answer, they argue, might have to do with robots. READ MORE

January 24, 2017. Wall Street Journal

Categories: Population aging

Millennials are leading the trend on America's hottest investment product

Over half of US investors plan to invest in exchange traded funds, or ETFs, in 2017. And like with most trends, millennials are leading the pack, according to a new survey released by BlackRock. The survey found that more millennials (defined as age 21-35) are invested in ETFs than members of Gen X (age 36-51), Boomers (age 52-70), and Silvers (age 71-75). The BlackRock ETF Pulse Survey, which polled 1,001 investors and 409 financial advisors, revealed that 70% of millennial investors plan to invest in ETFs in the next 12 months compared to 52% of total investors. READ MORE

January 24, 2017. Business Insider.

Categories: Financial services, Millennials

Cogent Reports: Gen X Powering Robo-Advisor Growth

Generation X investors are the key to future growth in automated investment advice, according to new data from Cogent Reports. In fact, affluent Americans between the ages of 35 and 51 now represent 40% of robo-advisor users, up from 31% over the past year. These and other findings are from Investor Brandscape®, a Cogent Reports™ study released by Market Strategies International. READ MORE

January 18, 2017. Yahoo

Categories: Financial services, Generation X

Universities Offer Lifelong Learning to China’s Elderly

First established in the 1980s for retired cadres of the Chinese Communist Party, universities for the elderly have been opening their doors to the public in recent years in order to accommodate the country’s aging population. More than 7 million elderly Chinese are studying at special universities — also referred to as “third-age” universities — and similar institutes for continuing education across China. READ MORE

January 19, 2017. Sixth Tone

Categories: Asia, Education, Population aging

 

We're living longer than ever - but that's not necessarily a good thing.

Half (45%) of the future generation, born after 2036, will live until 100, compared with 9.1% of Baby Boomers and just 0.5% of the Forgotten Generation. But the report also sheds light on the problems of an ageing population, with pensionable ages pushed back, having to work into our later years and other societal changes. According to the report, this is the year the UK’s non-working population will start to grow faster than its workforce for the first time outside of economic downturns since the early 1980s. READ MORE

January 17, 2017. The Mirror

Categories: Europe, Population aging

Why Trump Can’t Make It 1981 Again

Mr. Trump’s advisers say that over the next decade, their plans for tax cuts and deregulation could push the average annual growth rate back up to 3.5 percent — the same as during the Reagan presidency. But the forces that underlie economic growth have weakened significantly since the Reagan years, worldwide. No nation, no matter how exceptional, can try to grow faster than economic forces allow without the risk of provoking a volatile boom-bust cycle. READ MORE

January 14, 2017. New York Times.

Categories: Population aging

Troubling Study Says Millennials' Net Worth Half as Much as Boomers' During Same Life Stage

Boomers, during the same same life stage as today's Millennials, owned twice the value of assets and earned a 20 percent higher salary, according to Washington, D.C.-based nonprofit Young Invincibles. Referencing the Survey of Consumer Finances, a public survey of 6,500 people by the Federal Reserve Board of Governors, the study compares the financial status of 25- to 34-year-olds in 1989 with those of the same age in 2013. READ MORE

January 13, 2017, Inc. Magazine

Categories: Money, Millennials 

 

The 16 countries with the world's best healthcare systems

The Legatum Institute, a London-based research institute released its 10th annual global Prosperity Index in November, a huge survey that ranks the most prosperous countries in the world. Luxemburg, Singapore, and Switzerland top the list. READ MORE

January 13, 2017. Business Insider

Categories: Health care

 

Know who’s really skeptical of advertising? Gen Z.

Generation Z is much less receptive to advertising, according to a new report from Millward Brown. They are especially unimpressed with online advertising. The study asked respondents to describe their attitude toward a slew of different ad formats, from billboards to direct mail to video. Only one category, cinema, got more than a 50 percent positive rating from Gen Z (62 percent). By contrast, more than 50 percent of Gen Y said they liked four categories. READ MORE

January 12, 2017. Media Life Magazine.

Categories: Advertising, Generation Z

Move over Millennials, Target is courting Generation Z with new fashion line

Focusing on Generation Z makes retail sense. Topping out at around age 20, they outnumber the oft-courted Millennials, influence $600 billion of family spending, and will comprise 40% of consumers by 2020 according to Farla Efros, president of HRC Retail Advisory, a retail strategic firm. Retail experts say that chains like Nordstrom, Urban Outfitters and American Eagle have bolstered their businesses by offering products and services that are particularly appealing to the nation’s younger generation. READ MORE

January 11, 2017. USA Today

Categories: Retail, Millennials

Strategies for addressing demographic challenges

China's demographic advantage will disappear rapidly as its population ages and shifts out of the working ages. Over the next 10 years, the shift out of the working ages, other things remaining equal, will depress annual growth in per capita income by 0.9 percent both on the Chinese mainland and in Hong Kong. READ MORE

January 10, 2017. China Daily.

Categories: Health, Population Aging, Asia

China’s Rural Poor Bear the Brunt of the Nation’s Aging Crisis

By 2050 almost 27 percent of the population will be 65 or older, up from around 10 percent in 2015, according to projections by the United Nations and the China Research Center on Aging. Already, some 80 million elderly, or 60 percent of all of the country’s senior citizens, live outside cities and far from the better health-care facilities. READ MORE

January 3, 2017. Bloomberg.

Categories: Health, Population Aging, Asia

 

Appealing To The Affluent Older Consumer: A Retail Guide

West also pointed out that boomers generate more than 51% of the spending in the United States (and have a total annual economic activity of roughly $7.6 trillion, according to AARP). Regardless of where or how that 51% of spending occurs, the fact is older consumers represent a sizable and potentially lucrative long-term market base for digital retail. READ MORE

January  3, 2017. Forbes.

Categories: Boomers, Retail

 

More than a million Millennials are becoming moms each year

1.3 million Millennial women gave birth for the first time in 2015, according to recently released data from the National Center for Health Statistics, raising the total number of U.S. women in this generation who have become mothers to more than 16 million. READ MORE

January 3, 2017. Pew Research

Categories: Millennials, Parenthood

 

South Korea’s aging society means longer and more stressful marriages

The aging trend in South Korea’s population has brought longer durations in marriages. For the baby boom generation born between 1955 and 1963, some predictions have couples living 14 times longer together after their children leave home than their parents’ generation, with women feeling higher levels of stress and depression. READ MORE

December 31, 2016. The Hankyorey.

Categories: Population Aging, Marriage, Asia

 

Shenzhen, Vanke Team Up on First Public Private Partnership Senior Living Project

Shenzhen, China’s third largest city, is teaming up with the country’s largest homebuilder to jointly develop its first-ever public-private partnership senior living community project, as part of the city’s reforms aimed at addressing a shortage of health care facilities. Vanke will redevelop a government-run block of apartments for senior residents in Futian District, the city’s financial and political core, into a fresh senior living community. Shenzhen’s average life expectancy has reached 80 years, one of the highest in China. Its ageing population had climbed to 1.2 million by 2015, accounting for 6.6 per cent of the total population.That proportion will surge to 10 per cent by 2020. READ MORE

December 29, 2016. South China Morning Post.

Categories: Population Aging, Housing, Asia

 

Generation X's Moment Of Power Is Almost Here

Referred to by some pundits as a “lost generation,” the Xers, born between the mid-1960s and 1980, may be less numerous than either the boomers or millennials, the latter of whom now slightly outnumber them in the workforce, but Gen X seems likely to dominate the near future. Not only do they now make up the majority of managers at U.S. companies, they are far more entrepreneurial than millennials, both at early ages and now. Their rate of startup formation is roughly twice that of millennials, and on the way up, while the younger generation’s rate has been on the decline. READ MORE

December 28, 2016. Forbes.

Categories: Generation X

  

Young Swedes not optimistic about retirement age: survey

49 percent of Swedes said they believe they will still be working after they turn 65 – double the amount of five years ago, Young Swedes are not optimistic about their chances of retiring at 65. The average age of retirement is currently 65 in the country, but the Swedish Pensions Agency expects that to change as people choose to work longer in order to increase their income post-retirement. READ MORE

December 28, 2016. The Local.

Categories: Retirement, Europe

 

As China's young head to cities, elders find new appeal in old age homes

By 2050, China will have half a billion elderly citizens, but the country's youth are increasingly unwilling or unable to provide traditional support to their parents. So some are opting for a more 'Western' solution. READ MORE

December 27, 2016. Christian Science Monitor.

Categories: Population Aging, Housing, Asia

 

China’s ‘Godfather of Real Estate’ Pitches Reverse Mortgages to Skeptical Elders

The Chinese government said in July that it would extend a reverse mortgage pilot plan to dozens of cities over the next two years, and the People’s Insurance Company (Group) of China, a major insurer, said it had started offering the plan in October. READ MORE

December 26, 2016. The New York Times.

Categories: Population Aging, Housing, Money, Asia

Growing demand for senior care services in China

China now has more 50,000 registered senior care facilities. About 13,000 of the facilities are privately operated. About 30% of those facilities are operating with losses while 50% break even. That leaves only 20% that are profitable. Overall, senior care service is an area that awaits development as it trends towards a future of high-tech and smart services. READ MORE

December 26, 2016. CCTV

Categories: Population Aging, Housing, Health Care, Asia

 

Middle Class Retirement Accounts At Record Levels; Low-Income Households Still Saving Little

Retirement plan savings for middle class U. S. households have increased dramatically over time, even when measured against the growth of the annual incomes these savings are meant to replace. For the middle class – measured as the middle 40 percent of the population – retirement plan savings rose from 33 percent of annual incomes in 1970; to 53 percent in 1980; to 101 percent in 1990; to 168 percent in 2000; to 210 percent in 2014. READ MORE

December 23, 2016. Forbes

Categories: Money, Retirement

The Growing Need for Senior Housing in China

Though still in its infancy, the senior housing market in China has attracted the interest of major domestic institutions and foreign players alike.  Chinese retirees assign greater importance to communal eating and activities than U.S. retirees. The high and rising cost of land also is a problem for senior housing facilities in China. In the United States, most people prefer to retire to facilities close to where they used to live and where their families are. In China, the high cost of land in urban areas can make this strategy difficult. A further complication is safety; senior care residents tend to live no higher than the third floor so that they can be evacuated safely in case of a fire. However, three-story buildings make little economic sense in China’s major cities. The sector is heavily regulated in China. Furthermore, investors need to consider that, with the senior housing sector being a new asset class, the regulatory environment at both a local and a national level is evolving. Most commercial investors in senior care facilities in China are targeting the lower-care end of the market, where residents need additional services but not nursing care. Investors are also targeting the higher end of the care market, available only to wealthier members of China’s middle classes. READ MORE

December 19, 2016. Urban Land.

Categories: Housing, Population Aging, Asia

Millennials in China Have an Outsized Impact on Ecommerce Spending

Millennials in China will see their aggregate income grow by $3 trillion in the next 10 years. Just over one-third of digital buyers are between the ages of 25 and 34, and roughly 20% are 18 to 24, together accounting for more than half of all China’s digital buyers. Xiaomi is the lead brand for the younger generation, while Apple is the most popular for the older group. Apparel brands led the way for Gen Z, with Adidas, Nike, Uniqlo, Zara and Converse taking precedence, compared with tech and ecommerce brands like WeChat, Alipay and Taobao for their older counterparts. READ MORE

December 19, 2016. Emarketer.

Categories: Millennials, Asia

Government looks to tackle looming care crisis

Health Ministry figures estimate that Taiwan will be home to 1 million senior citizens in need of long-term care services by 2026. A look to Taiwan's northern neighbor Japan demonstrates the need for preparation when it comes to providing services for an aging society. Since implementing a long-term care insurance system in 2000, Japan has added 4,463 institutions that cater to senior citizens, employing an extra 29,6000 workers, CNA reported. But despite currently boasting 7,249 institutions, Japan still has 520,000 seniors competing for 500,00 places in such care centers. Japan's struggles will be foremost in the minds of Taiwan's government as it embarks on the implementation of an ambitious 10-year "long-term care 2.0 plan." The plan goes into effect next year. READ MORE

December 16, 2016. The China Post

Categories: Housing, Population Aging, Asia

The Surprising Way the Retirement System is Stacked Against You

It turns out that the number of choices we have is hurting us - both in our preparations before retirement and in the decisions we make after retiring. The results of a recent retirement readiness survey by Prudential highlight the fact that workers have too many retirement investment choices. One of the survey's key findings is that workers are "overwhelmed with investment choices" and therefore have "little understanding about what they are invested in." In one study conducted by the National Bureau of Economic Research, investors who were presented with roughly 50% fewer 401(k) funds reduced their fund expenses by half (worth $470 in extra money per year). READ MORE

December 16, 2016. Nasdaq.

Categories: Retirement, Money

What Healthcare Gets Wrong About Millennials

Millennials are poised to become a major force in the $3 trillion a year healthcare market, and anyone working in the industry had better pay attention. Players in healthcare continue to cling to an old model: a primary care physician serves as a trusted advisor for patients and a trusted intermediary for pharmaceutical companies and insurers. Millennials reject that model, and the industry needs to keep up or lose out. 58% of millennials said they trust their physicians compared with 73% of all others.

Only a minority (41%, vs 68”% of non-millennials) view doctors as the single best source of information, and they are unlikely to rely on a doctor as their sole advisor. READ MORE

December 16, 2016. Fortune
Categories: Health, Millennials

Older Americans (especially women) are still catching up on retirement savings

A multi-year study found that only 39 percent of workers believe they have either fully financially recovered (20 percent) from the Great Recession or were not at all impacted (19 percent). The rest are still trying to catch up. There is a silver lining in that news, however. The 17th Annual Transamerica Retirement Survey: A Compendium of Findings About American Workers reported that this dismal number was an improvement over the past two years. In 2015, 37 percent of workers surveyed said they had fully recovered. In 2014 only 29 percent did. READ MORE

December 14, 2016. Miami Herald

Categories: Money, Retirement

China's aging population to reach peak by 2055

It is estimated that China's aging population will reach its peak of 400 million by 2055, with large numbers of the elderly in rural areas and a prevalence of female senior citizens, according to a recent report issued by Social Science Academic Press. The Chinese aging population, defined by an age threshold of 65, is expected to climb to 280 million by 2030, accounting for 20.2 percent of the population. The number will further jump to 400 million by 2055, with an accompanying percentage of 27.2 percent. The years before 2040 will witness the fastest growth of the elderly population, with an annual growth of 0.5 percent. Generally speaking, the larger a city is, the more slowly its population will age. "The aging population in Japan and South Korea is a natural result of transitioning economic development, while the phenomenon in China is largely due to family planning policies, which led to a decrease in births," noted Ma Li, a population expert and State Council counselor. READ MORE

December 14, 2016. China Daily.

Categories: Population Aging, Asia

An Open (Financial) Letter to Millennials

More millennials have a college degree than any other generation of young adults. In 2013, 47% of 25–34 year-olds received a post-secondary degree. Millennials are about 29% less likely than those in Gen X to purchase a car. In 2015, the share of car originations in the 22–35 age bracket was approximately 25% lower than it was during 2003, when the prior generation (Gen X) was in that same age bracket. For the first time since 1880, young adults aged 18–34 are more likely to live with a parent than in any other arrangement. This trend isn't being driven by the lack of employment, but rather the high cost of rent, delayed marriage, and a large increase in the high school education only segment of the generation.

READ MORE

December 14, 2016. CNBC.

Categories: Millennials, Money

8th Annual Fidelity Resolutions Study Reveals Many Americans Feel in Better Financial Shape

According to Fidelity Investments eighth annual New Year Financial Resolutions Study, as 2016 comes to a close and people prepare for the New Year, there’s plenty to feel good about: looking back, 45 percent say they are in a better financial situation this year, a number that is significantly better than the previous year (39 percent) and the highest level since the inception of the study. Looking forward, 70 percent predict they will be better off financially in 2017. And, the number of people planning to ring in the New Year with a financial resolution is holding steady for the second year in a row—36 percent in 2016 vs. 37 percent in 2015. READ MORE

December 13, 2016. Businesswire.

Categories: Money, Retirement

The harmful effects of the aging Asian population on the economy

Many Asian economies are currently faced with the challenge of rapidly ageing population, which can be harmful to the economy in the long run. The study, conducted by Dr Keisuke Otsu from the University of Kent's School of Economics with the results published in Asian Development Review, analysed the effects of projected population ageing on potential growth in Asian economies over the period 2015-2050 using quantitative assessment. The model predicts a 0.21 percentage point decline in the annual per capita GDP growth rate below its potential purely due to the demographic transition. This is equivalent to a 7.6% drop in the average income level over the 2015-2050 period. READ MORE

December 13, 2016. Phys.org

Categories: Population Aging, Asia

Harvard: The housing crisis for Baby Boomers is on the way

A new study conducted by the Joint Center for Housing Studies at Harvard University revealed inadequate housing appropriate for an aging population. As the Baby Boom generation ages, the U.S. population aged 65 and over is expected to grow from 48 million to 79 million. "This growth will increase the demand for housing units with universal design elements such as zero-step entrances, single-floor living, and wide halls and doorways," the center said in a release. "However, only 3.5% of homes offer all three of these features." READ MORE

December 13, 2016. Housingwire

Categories: Housing, Retirement, Boomers

Meet the Ma family: How millennials are changing the way China thinks about money

Attitudes toward credit are changing as the millennials generation - roughly those aged between 18 and 35 - embraces debt like never before. The frugal attitude of previous generations produced the bedrock of China's credit worthiness - household savings equal to some 50 percent of GDP, one of the highest levels globally. While mortgages are the lion's share of household debt, credit card and consumer loans have shot up from just 4.6 percent of household debt in 2015 to 16 percent now, BMI Research shows. READ MORE

December 12, 2016. Reuters

Categories: Millennials, Money, Asia

Korea tipped to have similar population level in 30 years

South Korea's population will likely start declining gradually after reaching a peak of 52.96 million in 15 years from now. The country is forecast to experience changes in its demographics, with women outnumbering men and the country undergoing rapid aging. South Korea is also expected to go through rapid population aging. The number of people aged 65 and older will likely come to 18.18 million in 30 years, up 2.9 times from the 6.54 million last year. Its share of the country's total population is predicted to soar to 35.6 percent from 12.8 percent. South Korea's stubbornly low birthrate and aging people are widely feared to undermine the growth potential of Asia's fourth-largest economy. READ MORE

December 12, 2016. Korea Herald

Categories:  Population Aging, Asia

The retirement issue that no one is talking about

A survey from the Nationwide Retirement Institute released Wednesday said 45 percent of individuals polled have not discussed these expenses with anyone.  A 65-year-old couple retiring in 2016 can expect to spend an average of $260,000 on medical expenses over approximately 20 years, excluding nursing home costs, according to Fidelity. READ MORE

December 7, 2016. CNBC

Categories: Health, Retirement

Sorry, Millennials: The 'American Dream' Is Looking Gloomy, According to New Report

A new report suggests that the odds of children out-earning their parents have declined sharply, as U.S. wealth is increasingly concentrated among the few. The new report, called "Equality of Opportunity Project," suggests that the odds of children out-earning their parents have plunged by more than 40 percent. That's due in large part to the concentration of wealth among the rich, and much less to the slowdown of economic growth. The study, led by researchers from Stanford, Harvard, and U.C. Berkeley, is based on data from anonymous tax records, and U.S. Census Bureau numbers on the distribution of income. Only half of those born in the 1980s have grown to earn more than their parents did, down from the 92 percent of children born in the 1940 who did. READ MORE

December 9, 2016. Inc.

Categories:  Money, Millennials

 

Why Productivity Growth Is Faltering In Aging Europe And Japan

Two recent papers by IMF economists suggest that there are limited prospects for productivity to come to the rescue. That's because not only is the overall population aging, so are those still in the workforce. And the aging workforce is holding down productivity growth in both Europe and Japan. READ MORE

December 9, 2016. Seeking Alpha.

Categories:  Population Aging, Workforce

Has China's two-child policy had the desired effect

As the two-child policy approaches its first birthday, commentators and the Chinese government are looking for evidence to see whether it has had the desired effect: an increase in the birth rate in order to mitigate some of the effects of an ageing population. At first glance, the evidence seems to be promising.  It is estimated that there will be around 17.5 million births in 2016. At over one million more than in 2015 one might say the two-child policy has been a success. READ MORE

December 8, 2016. Strait Times.

Categories:  Population Aging, Asia

 

Study: Americans Nearing Retirement “Terrified” of Health Care Costs

According to a recent survey, more than 70% of Americans nearing retirement say that they are “terrified” of what health care costs could do to their retirement plans. The Nationwide Retirement Institute (part of Nationwide Mutual Insurance Company) published the results of a survey of American adults aged 50 and older. It found that nearly three in four older adults say that one of their top fears in retirement is health care costs going out of control. READ MORE

December 8, 2016. Income Investors.

Categories: Health, Money, Retirement

S. Korea's population to start shrinking in 2032

South Korea's population is expected to start contracting in 2032 amid widespread concerns that the country's chronic low birthrate and aging citizens will undermine growth potential, a government report showed Wednesday. According to the report by Statistics Korea, Asia's fourth-largest economy will likely see its population peak at 52.96 million in 2031, rising gradually from 51.01 million tallied at the end of last year. And the number will begin declining in the following year and reach 43.02 million by 2065, an equivalent to that of 1990. READ MORE

December 8, 2016. Korea Times.

Categories: Population Aging, Asia

 

2017: Forget millennials Gen Xers are back in the spotlight

Millennials seem to get all the attention but in its latest trends report, JWT asks marketers and brands to take another look at the forgotten Generation X-ers, the so-called 'slacker' generation which refused to grow up. Aged 35 to 55, overlooked Gen X-ers are now "set to have their moment," it says. READ MORE

December 8, 2016. Ad News.

Categories: Generation X

 

Can Department Stores End their Addiction to Discounting?

“As it turns out, our recent data tells us that retailers are being run by Generation X, for Generation X,” Paula Rosenblum, managing partner at RSR Research and FORBES contributor. “So millennials are turning out to be something like the weather — everyone talks about them, but there isn’t much anyone (besides the fast fashion guys) is doing about them.” READ MORE

December 8, 2016. Forbes.

Categories: Retail, Generation X, Boomers, Millennials

Check these guys out, not just boomers and millennials

Gen Xers need lots of financial advice but they're ignored by planners, Cerulli finds. Reseach firm Cerulli Associates said advisers mistakenly ignore Generation X, those who are now 36 to 51, because they are paying so much attention to baby boomers as they enter retirement and to millennials, whom many advisers target with digital-advice platforms.  “The real sweet spot for advice providers looking to address the next generation of wealth has been overlooked,” said Scott Smith, a director at Cerulli.  One reason the group isn't so interesting to advisers is that a large portion of its investible assets is tied up in employer-sponsored retirement plans. But the group is approaching the years that will be their most financially complex to date, as their earnings hit a peak and their expenses grow. READ MORE

December 7, 2016. Investment News.

Categories: Money, Generation X

 

One-third of seniors say a family member coordinates their care, but another one-third say no one does

A Harris Poll of 1000 seniors conducted for CareMore, a physician-founded care delivery system that operates in 7 states, found that 85% of seniors have been diagnosed with at least 1 serious health condition and 64% have seen 3 or more healthcare providers in the past year, showing the need for care coordination. Just over one-third of seniors rely on a family member to coordinate their medical care, and roughly another one-third say no one manages their care among multiple providers—pointing to huge gaps in care coordination when this task is a growing priority. READ MORE

December 7, 2016. AJMC.

Categories: Health, Retirement, Aging

 

Women Face 20% Higher Health-Care Costs in Retirement, Survey Finds

When it comes to saving for health-care costs in retirement, women need to set aside more—almost 20% more, on average—to cover their medical bills in the final years of their lives. That is the conclusion of a report released Wednesday by HealthView Services. The reason for the gap is simple: longevity. READ MORE

December 7, 2016. Wall Street Journal.

Categories: Money, Women

 

Why Millennials Flock To Fintech For Personal Investing

It seems as if millennials would prefer to avoid face-to-face business interactions when there exists a more efficient way of getting what they want accomplished. A new breed of financial technology companies, known collectively as fintech, has taken advantage of these traits to disrupt an unexpected industry: personal investing. Just as manufacturing companies have replaced assembly line workers with robots, these companies have replaced financial advisors with robo-advisors, which use big data and algorithms to determine the best places to put clients’ money—and appeal to a whole new generation of investors. READ MORE

December 7, 2016. Forbes.

Categories: Money, Millennial

 

Merrill Study: Millennials Don’t Plan to Retire

The majority of Millennial investors don’t plan to ever stop working, according to a recent survey by Merrill Edge. In all, 83% of investors between 18 and 34 intend to continue working, either for income, simply to keep busy or to do something they’re passionate about, according to a survey of 1,045 investors with $20,000 to $250,000 in investable assets conducted this fall by Merrill Edge. READ MORE

December 7, 2016. Financial Advisor IQ.

Categories: Retirement, Money, Millennials

 

Best and Worst States for Seniors’ Well-Being

Hawaii has again ranked as the top state for seniors’ well-being. Arizona follows at No. 2, but this year’s list from Gallup-Healthways is not dominated by warm-weather havens. Alaska and some Midwestern states known for harsh winters also are in the top 10. READ MORE

December 6, 2016. Senior Housing News.

Categories: Housing, Retirement, Aging

New IRI Study Reveals Cross-Generational Interest in Adult Beverages

Baby boomers  are responsible for a disproportionately large proportion of overall cross-category dollar sales. Although they only make up 33 percent of the U.S. population, boomers represent 45 percent of overall beer, wine and spirits dollar sales, 46 percent of wine sales, and 41 percent of sparkling wine sales. While it is important for manufacturers to develop a strong and sustainable core connection with the millennial generation, they should also nurture the relationship with boomers, given that they account for nearly 50 percent of category volume. READ MORE

December 6, 2016. Business Wire.

Categories: Food & Beverage, Boomers

 

China’s pension move into stocks is overdue as working population declines. China has moved a step closer to investing $290 billion worth of public pension funds in financial markets, tasking four banks to act as custodians of the pension insurance fund last week. READ MORE

December 5, 2016. Global Times.

Categories: Retirement, China, Money

How Millennials Are Changing the Face of Philanthropy

Enabling Millennial donors and volunteers a chance to be directly involved and assured that their dollars are making a direct contribution to a cause. That’s a key conclusion of five years of research into the beliefs and attitudes of more than 75,000 millennials by Achieve, a cause-focused research and marketing agency, in partnership with The Case Foundation, a group that works to spur social change. READ MORE

December 5, 2016. Barron's.

Categories: Philanthropy, Millennials

Before the Millennial Deluge: Corporate law departments are overwhelmingly unprepared for a seismic generational shift. Few factors directly influence the changing face of the law profession as much as the unprecedented generational shift that is occurring as baby boomers retire and more millennials join the ranks of corporate counsel. Yet legal departments are unprepared for the shift taking place. READ MORE

December 5, 2016. Metropolitan Corporate Counsel.

Categories: Workforce, Boomers, Millennials 

Overbuilding in Senior Housing Could Ease Under Trump

Overbuilding concerns have plagued the senior housing industry as of late. But come January, these woes may subside. Under the Trump Administration, the United States is likely to experience higher interest rates and rising inflation—which could directly impact the amount of construction in the senior housing market. READ MORE

December 4, 2016. Senior Housing News.

Categories: Retirement, Housing & Communities