Old age is opportunity dressed in different clothes. So goes one saying about getting old – and for the current generation of septua-, octo- and nonagenarians that certainly rings true.
Today, many of the physical and cognitive limitations traditionally associated with increased longevity are in retreat. Chronic diseases – particularly those linked to lifestyle choices – can be prevented, lessened, or managed. Gene therapy and other medical advances (note the recent US FDA approval of a new treatment for Alzheimer’s, for instance) are also helping to write a new chapter in elderly healthcare.
In many parts of the world, today’s senior citizens are wealthier too. With baby boomers estimated to control more than half of US household wealth, the Dickensian stereotype of superannuated scrimping and saving is long gone.
So what does this mean for investors? We believe the story is overwhelmingly a positive one, with structural tailwinds playing a large part in the narrative.
Newton Future Life Investment Team.
Doc ID: 634500