Financial Longevity: The Key to Dignity in Aging - Milken Institute
Dawn Carpenter of the Milken Institute discusses the importance of ‘Financial Longevity’ in the article “Financial Longevity: The Key to Dignity in Aging”. Financial Longevity is defined as ensuring financial security and dignity for the aging population is a pressing challenge as life expectancy increases. According to the World Health Organization (WHO), the global percentage of people of 60 will nearly double from 12% to 22% between 2015 and 2050. In the United States alone, that population is expected to be at 90 million by the year 2060. This shift in the global demographic will undoubtedly bring changes in both socially and economically.
The concerns of financial wellbeing for pensioners becomes increasingly more alarming as it is estimated in the US alone a quarter of the elderly population lacks any retirement savings, in addition to many in the workforce currently lack access to employer-sponsored retirement plans. Other obstacles that threaten the financial security of pensioners include: Debt management issues and inflation, insufficient financial literacy, affordable housing concerns. With health care costs and living costs only increasing as one age, financial security is an important concern for the elderly and their loved ones.
Carpenter suggests that coordinated efforts are needed from governments, businesses, individuals, and society to create an inclusive and resilient future for all generations.
Find out more: https://milkeninstitute.org/content-hub/insights/financial-longevity-key-dignity-aging.
References:
Carpenter, Dawn M. "Financial Longevity: The Key to Dignity in Aging." Milken Institute, 9 Oct. 2024, https://milkeninstitute.org/content-hub/insights/financial-longevity-key-dignity-aging. Accessed 5 Sept. 2025.
