Three Concerns for Consumers Over 50: Roar Forward Summit

Published 16 November 2023

Author
Emilia Morano-Williams
2 min read

Consumers over 50 are pioneering new approaches to later life informed by their health and financial status. Experts at the Roar Forward summit (New York, November 9th) gathered to discuss this cohort and examine the business opportunities.

  • Health: Speakers agreed that a vibrant post-50 life requires individuals to master self-care basics. Brain health is a key focus. Rather than fixate on ‘brain games’ – which “get you better at games, but [it] doesn’t translate to cognition”, according to Laura Carstensen, founding director of the Stanford Center on Longevity – speakers advocated for social engagement. This is the emphasis of Los Angeles-based senior centre Wallis Annenberg GenSpace, which opened in 2022, offering classes on everything from tech skills and financial management to painting and gardening.

    For a clinical approach, see Isaac Health, an American telehealth company providing behavioural neurology services for people with dementia. It also offers preventative brain training, addressing the “common misconception around the idea that ageing is a passive activity”, said co-founder Joel Salinas.

  • Work: “Generations are valuable [in the workplace] for diversity of thought,” said Megan Gerhardt, professor at Ohio’s Miami University. To support intergenerational engagement, Laurie Leibach, senior VP of human resources for L’Oréal USA, explained how the company runs a summer internship programme where long-time employees can nominate younger relatives to come work for the business.

  • Money: Alongside post-retirement finances, speakers discussed how to use money to secure a legacy. “We need to encourage people to think beyond the obvious [like their college or religious institution] when it comes to philanthropy,” said Art Taylor, CEO of American charity aggregator Give.org. He recommended over-50s to cultivate the value of giving by identifying causes that matter to them, then donate their time (alongside money) and persuade younger generations to embrace philanthropy.