Posted in on June 28, 2016

Technology Changes the Way Society Views Aging

Every week, we review the mature marketing content from the previous week with which our followers were most engaged.

This week, we will take a look at how technology is expected to impact the way in which society views aging in the future, as well as John Oliver’s take on the trials and tribulations of retirement planning in today’s economic landscape.

MOST CLICKED: According to Joseph Coughlin, director of the MIT AgeLab, technology and rising expectations are the two factors that are expected to have the most impact on the future of aging.

“The coming generation of older adults have enjoyed the most dramatic quality-of-life improvement in history,” Coughlin explained. “Now, they expect that to continue in old age — new and innovative ways to live a better life.”

Technology-Aging-and-the-Coming-Third-Wave-186915307-300x194With technological advances coming at an extraordinary rate, seniors expect present and future technology to address all aspects of their lives — not just the physiological ones.

This means that senior living communities will have to adapt with the increasing expectations and ever-changing technology. The way potential residents see it, health is only one aspect of being an older adult. Having the latest rehabilitation treatments is always a good start, but what else are you offering in your community that will help make the lives of residents more engaging?

Is there Wi-Fi? Is it fast enough for residents to keep in touch with their friends and family using their laptops, smartphones and tablets? These are things that must be taken into consideration when marketing your community to prospective residents.

With that said, it is predicted that this expectation for new technology will influence five waves of change in the way society views aging. Two waves that stood out the most to me were the third and fifth waves:

Wave Three – Aging as Care and Smart-Home Technology: Technology will allow adult children to know how mom and dad are doing at home, and will alert them of any problems that may arise.

Wave Five – Aging as Living and Technology is Ageless: The last wave of change sees new technologies mature to the point that they perform seamlessly, regardless of the age of the user.

Read about the other waves of change.

MOST SHARED: John Oliver, host of HBO’s Last Week Tonight tackled the issue of retirement planning on a reJohn Oliver screen capturecent episode of his show.

True to his nature, Oliver covered many of the issues plaguing retirement planning such as lack of understanding, common mistakes, financial advisers and deceptive retirement advertising.

Though the video itself is over 20 minutes long, it is worth the watch, not only for the information that you will come away with, but also for Oliver’s brand of hard-nosed political satire that succeeds in making some of society’s most pressing issues appear comedic.

Despite the tone that Oliver’s show takes, he brings forth a few key takeaways in regards to retirement planning:

  1. Start Saving Now: The more you save now, the less financial burden you will have as you near retirement.
  2. Research Before Deciding on a Financial Adviser: Whether they call themselves financial advisers, wealth managers or a host of other titles, it is up to you to make sure that the people you are entrusting with your well-being are both qualified and trustworthy. Whether or not your financial adviser is a fiduciary is just one of many questions you should be asking as you screen potential candidates.
  3. Keep an Eye on All Fees: Oliver explained the effect that compound interest can have on one’s retirement savings. Make sure you are aware of the types of fees that you are incurring, and always ask questions when you are unsure about issues affecting your savings:

“These fees are like termites — they’re tiny, they’re barely noticeable and they eat away at your future.”

Click above or here to watch the video in its entirety.

CATEGORIES 50+, 60+, Internet, Retirement

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