Milken Institute | Newsroom | Currency of Ideas

America is growing older. This transition brings monumental shifts in thinking about how we can support this demographic. It also brings additional questions: What services are important to aging Americans? How can communities foster an active and engaged aging population? How do we define what successful aging looks like?

Successful aging is vitally important to all of us. We want it for ourselves, and for our parents and grandparents. At the Milken Institute, we think about successful aging in America this way:

We want to live in places that are safe, affordable, and comfortable. It isn’t only about the weather (although weather does play a role in comfort), but physical and financial security, costs and expenses also matter.

We want to be healthy and happy. This means we need a medical infrastructure that can support us as we grow older, including health professionals, hospital beds, and the necessary quality medical facilities. We also want to have recreation, wellness and health activities to keep us active for years to come.

We want to be financially secure and part of an economy that enables opportunity and entrepreneurship. Why retire at 65? For many aging Americans, the spark of innovation remains as we age. “Encore” and “second act” careers remain an attractive option, allowing seniors to continue in a career or find something new and interesting, where they can offer their expertise and experience.

We want living arrangements that suit our needs. As we age, our living arrangements may change. We want the flexibility to make the best choice to for our situations, providing the greatest opportunity for quality living.

We want mobility and access to convenient transportation systems. Who wants to be stuck in a car for an hour commute to the grocery store or movie theater? We need public transportation that gets us where we want to go for a reasonable cost and with proper investment from the community.

We want to be respected for our wisdom and experience; to be physically, intellectually, and culturally enriched; and to be connected to our families, friends, and communities. This means we need opportunities to volunteer in the community, giving back while staying active. We want to continue a lifetime of learning by attending classes, enjoying the library, and experiencing cultural and religious institutions.

Cities have a unique opportunity to embrace this aging generation and redefine retirement. This aging demographic is not necessarily moving to golf resorts but instead is considering aging in place and enjoying the opportunities available at home. Successful aging demands investment in infrastructure and the community – and the size of the demographic shift will ensure a sound return, not only for older people but for society as a whole. Some changes may be more difficult than others, but many involve providing greater opportunities for seniors to participate.