The recently released UN report Aging in the 21st Century concluded that population ageing is one of the most significant trends of the 21st century. It has important and far-reaching implications for all aspects of society. Around the world, two people celebrate their sixtieth birthday every second – an annual total of almost 58 million sixtieth birthdays.
With one in nine people in the world aged 60 years or over, projected to increase to one in five by 2050, population ageing is a phenomenon that can no longer be ignored.
New Zealand has a rapidly aging population as shown by these UN statistics:
|Number aged over 60 years||845,000||1,623,000|
|Proportion of population||19%||29%|
|Life expectancy at age 60 (male)||22 years||27 years|
|Life expectancy at age 60 (female)||25 years||30 years|
The rapid adoption of technology by seniors is creating work opportunities not previously available for this age group. Today and increasingly into the future, seniors who are computer literate and willing to embrace new technology can be employed from home on flexible hours and undertake roles such as:
There is a growing trend amongst seniors to better manage their health - both physically and mentally. No longer is it the norm for people to enter retirement burnt out as their first work career was not as physically demanding as what it was last century. Middle and upper income seniors are moving into a second career where they undertake a gradual transition whereby they continue to work several days each week, they undertake programmed exercise to keep healthy, and are aware of cognitive decline so take steps to keep their minds active. Embracing technology is certainly one strategy to assist with this.
Talk to your Milestone adviser about ways to generate retirement income.