Senior friends cooking in kitchen

Longevity in Aging: The Need to Address Healthspan and Wealthspan

People are living longer, and that’s a good thing. It’s not unusual or uncommon for people to live into their 90s. But how is their quality of life? Are they in good health? Can they afford living expenses? As lifespan increases, it is critical we pay attention to healthspan and wealthspan. According to Nexus Fellow Ryan Frederick, CEO of SmartLiving 360, healthspan is “the number of years we live in good health,” and wealthspan is “the number of years we have the financial means to support our desired lifestyle.”

“Advances in longevity create the prospect of longer, healthy lives but will we be purposeful, socially connected, and financially secure over these additional years?” – Ryan Frederick

In part three of the Six Key Drivers Shaping the Future of Senior Living, Nexus Founder and NIC Co-Founder and Strategic Advisor, Bob Kramer, also remarks on the effect longevity will have in terms of where Boomers will choose to live.

“Purposeful longevity means our new customers are determined to thrive,” said Kramer. “They are looking for community and a sense of connection. I call it the ‘engagement’ concept of retirement and aging which focuses on purpose, experience, and enjoyment. Paraphrasing a report by the McKinsey Health Institute, our customers aren’t just looking to add years to their lives but add life to their years.”

So how do we improve the quality of life for older adults?

“Researchers point out that longevity is largely driven by our lifestyle rather than our DNA,” wrote Frederick in a SmartLiving 360 blog post. “By some estimates, lifestyle and our environment account for about 93% of our longevity outcomes. Therefore, we have agency over our longevity. Lifestyle decisions also impact our quality of life.”

Frederick goes on to say, the “key is making sure you are at the right place at your stage in life – and one of the reasons the average person moves a dozen times in their life. An openness to change and the ability to act – however overwhelming it can be – is critical to make sure where you live matches your needs and desires at a given time.”

Read more from Ryan Frederick on the SmartLiving 360 blog.

 

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