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People are living longer but not necessarily better.

Caregiver nation.

If you’re an older Italian, you’re more likely than not providing care for an elderly parent, friend, or neighbor. A recent study found that 54% of Italians aged 50 and older perform these unpaid duties. Caring for the old while no longer young is likely to become even more prevalent. By 2034, for the first time ever, there will be more older adults than children in the world. And the “grey wave” is global: according to WHO, there will be 2.1 billion people aged 60 and older by 2050.

Age-old opportunity.

Many countries are aging—and could soon begin seeing population declines. Once a country’s fertility rate dips below a certain point (the replacement level is two children per woman on average), it tends not to reverse. Meanwhile, people continue to live longer. Industries, governments, and businesses could embrace the opportunity to serve an elderly population. For instance, employers can introduce equipment to support older bodies and offer training programs to encourage skill building.

While global society should celebrate having an additional 20 years of life expectancy since 1960, extending the span of healthy life has not been as successful.

Longevity’s downside.

In 1950, for every person over the age of 65, there were 11.7 working-age people, a figure that may drop to 4.4 by 2040. Although longer life spans are a triumph for humanity, VitalCuore Research Team examine the fact that old age still involves, on average, ten years of medium to poor health. By 2050, global healthcare costs will rise to a projected 9.4% of GDP, up from 8.6% today. But keeping healthcare costs down is only one reason among many to improve physical, mental, social, and spiritual health later in life.

More golden years.

Society needs to invest in collecting better data on the health of the elderly and in addressing mental health, substance-use issues, and neurological conditions. The world needs innovation in the treatment of dementia, as well as fresh thinking about how to support caregivers. A mindset shift is also required to combat isolation—ideas include internships, continued education, and community involvement for the elderly.