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News About Me: Fellow in Social Innovation at Babson College

I am delighted to become a Senior Fellow in Social Innovation at Babson College. Since my focus is on boomers, aging and the 50+ demographic, I expect to help this top entrepreneurial college [#1 if you believe in “Best” lists!] understand the business opportunities in the Longevity Economy.

Entrepreneurs in their 20s are designing products and services for the 50+ population (think students). So are people age 50+ (think alumni).

Here’s more if you’re not convinced this is a golden opportunity for Babson:

  • The impact of the 50+ cohort on GDP? Equivalent to the third largest economy in the world
  • In 2018, the economic activity by the 50+ population was $8.3 trillion. By 2050, it is expected to soar to $28.2 trillion
  • 1.6 billion people worldwide were part of the 50+ demographic in 2015. It is projected to be nearly $3.2 billion by 2050.

And, these figures don’t include other generations that may purchase products and services for their parents and grandparents.

That would be Generation X, born 1965-1980 or, if you don’t feel like doing the math, ages 40-55, and Millennials, 1981-1996 or 24-39 who make up 25% of all family caregivers. Even some from Gen Z, the oldest of whom is age 23, may want to invest in technology or a ride service, let’s say, for a relative.

Babson is wise to act on the Longevity Economy.

ASJA Conference Recap

First time in a while the conference I attended this week wasn’t on boomers, seniors and aging. This one, in New York, was the annual American Society of Journalists and Authors (ASJA) meeting. If you’re not in the writing world, ASJA is a membership organization where writers must be vetted and accepted. (One of the two days, non-members and newbies can attend.)

It’s a chance to be with other writers, meet print and online editors from top venues (the New York Times, Woman’s Day, PBS’s Next Avenue and others), as well as seasoned literary agents. Sessions range from how to draft a killer book proposal to hearing from editors on how they like a story pitched to cracking content marketing.

The big treat was hearing the ever-vibrant social media master Sree Sreenivasan offer tips on how to get influencers to notice you. And these wise words: “Connect with people when you don’t need them.”

Other tips:

  • Look at key trending words on Google
  • Write a piece for LinkedIn
  • Do separate posts for Facebook, LinkedIn, twitter, etc.
  • Always be thinking of repurposing your research in a session titled “Making Money in Your Sleep”
  • Hearing that one minute of video is equal to 1.8 million words (Forrester research) confirming that I need to improve my video skills

Panelist at the What’s Next Boomer Summit

Back to San Francisco for more conferences: the What’s Next Boomer Summit and the annual American Society on Aging (ASA). An extraordinary breadth of topics covered between the two.

What’s Next brings together experts and industry leaders in the boomer and senior markets. Attendees include such companies as Google and Hasbro (of toy dog-and-cat- for-dementia fame), start-ups, venture capitalists, industry experts and journalists.

I am speaking on trends I am seeing in intergenerational programs and communities. Here’s a taste of my talk:

  • Shared sites (i.e. a senior center with a public library or high school or another, a fitness center, AARP tech and caregiver workshops as well as a Boys & Girls Club)
  • Colleges partnering with long-term care communities (Oberlin, Dartmouth, Cornell, Stanford, Penn State)
  • 24/7 intentional communities with a social purpose. That purpose could be helping kids who have come out of the foster care system and their adoptive parents. In New Orleans, at Bastion, retired veterans, adult civilians live among wounded warriors from the Iran and Afghanistan wars and their families.
  • In the works: communities for young adults with autism

Let me know if you will be in San Francisco!

 

 

I Spoke At The Age Without Borders Caregiving Global Summit

It was great being part of the Aging Without Borders Virtual Caregiving Summit that just took place. More than 50 experts on aging from around the world gave virtual talks on too-many-to-count issues important to boomers and seniors. Okay, I’ll name a few: caregiving, technology, housing, spirituality, health, purpose, money and ageism.

I spoke on creative housing alternatives and what to consider before, and if, you make a move. It’s a lot more than where you’re going to live (caregiving, finances, services and amenities, people around to thwart or mitigate loneliness and social isolation, transportation). Here’s an excerpt from my talk.

Since it’s a virtual summit, you can listen to any of the talks 24/7 if you choose! I’m still wading through them, learning about resources and strategies new to me, as well as cool, progressive programs and aging initiatives.

Having a global perspective on aging and hearing how issues like dementia are treated in other countries—I mean you, The Netherlands—makes all the difference in the world. Kudos to Aging Without Borders founder Kari Henley for envisioning her concept—and pulling it off.

And now, take a look at the full interview.

 

Needed: Future Technology for Caregivers

This week’s “Aging and Caregiving Digital Health Reverse Pitch” event in Boston confirms the demand—and thirst– for smarter caregiving technology. The HUBweek event is one of nearly 200 talks, demonstrations, exhibits and entertainment (a silent disco party??—please explain the connection!) over five days to address the intersection of art, science and technology.

It’s no surprise that HUBweek, a collaboration of the Boston Globe, Mass. General Hospital, Harvard and MIT, brought some big Boston brains and robust brainstorming to the event. Five company execs, including from Philips Home Monitoring, told a rapt 150-person crowd about the kind of technology that would make a significant difference in their organizations for family and professional caregivers.

In the audience: gerontechnology entrepreneurs listening to these CEOS tech “wish list” needs. Also venture capitalists (ideas need $$), geriatricians and senior living providers.The event was put together by Aging2.0Boston and MeHI (short for Massachusetts eHealth Institute) in Boston’s Seaport area at the ultra cool Innovation and Design Building.

After opening comments from Alice Bonner, Massachusetts Elder Affairs secretary, I moderated the panel. It was an engaging and substantive conversation (if I may say so myself).

Here are a couple of ingenious ideas that came from the presenters:

  • Veronica Barber, Senior VP of Human Capital (what a title!) at Benchmark Senior Living wants yet-to-be invented tech that could alert family and professional caregivers to the physical and psychological needs (be changed, have to go to the bathroom. . .) of a resident who may have dementia and can’t communicate.

It would anticipate their needs before there’s a problem, leading to better care and less frustration about getting their needs met. It would also head off unpleasant experiences (toileting accident) or even a crisis.

  • Kate Granigan, CEO of LifeCare Advocates, a geriatric care manager practice, explained that the profile of her clients is changing. It’s not just adult children seeking advice for their aging parents when there’s a crisis. Rather, some clients, in their early 70s, want to know options and resources needs so they can thoughtfully plan for their own old age.

Granigan proposed an interactive dashboard that would look at the whole person’s needs (financial, legal, housing, health), not just cover eldercare. The digital tool could be tweaked and updated by either her office or the client as circumstances change.

The audience brought up tech to mitigate loneliness and social isolation—this is a HUGE issue—but alas, we had only an hour to hear the panelists’ ideas. Fortunately, networking entrepreneurs/engineers and panelists had time to connect. Here’s hoping some solid solutions come out of the event.

Next year, let’s talk about loneliness and technology.

 

 

 

Contact Sally Abrahms