Ep. 129 - RETIREMENT REDEFINED - HOW MODERN SENIORS ARE SHAPING THE WORLD

Welcome to another empowering episode of the Merging Life and Money Show, your go-to podcast for empowering high-earning professionals, particularly women to achieve financial wellness. I am your host, Marie Jo Caesar, your trusted financial wellness strategist. Thank you for being here. Today's episode is particularly special because this week, Monday was National Senior Day, a day dedicated to recognizing and celebrating the wisdom, achievement, and contributions of our senior population. I will say that our topic for today's episode aligns perfectly with this celebration. We often talk about the world of finance and its implications on various stages of life and seniors are a group whose financial insights, challenges, and triumphs are crucial in this narrative.

So in light of the celebration today, I'm going to explore a topic that's close to my heart and I believe relevant to many of you and all our seniors tuning in a heartfelt belated shout out to you for National Senior Day. Welcome to the Merging Life in Money Show. Today, I will examine the fabric of our society and how it perceives age.

As the baby boomer generation matures, I've noticed that perhaps you have too That there is a powerful shift happening, seniors, many of whom are vibrant members of this generation are stepping up and rewriting the script of what aging looks like they are living longer embracing the digital age and most importantly, challenging many of the stereotypes being associated with growing older. Now, you might wonder why this topic is so close to my heart, especially as someone who delves deep into financial wellness. For high-earning professionals, and especially the incredible women in that bracket, understanding this evolution is crucial. It affects our planning, our outlook toward retirement, and even how we interact with the world around us. 

Today, I will not only discuss how the lifestyle of our seniors is transforming, but I will also shine a light on the uphill battle, many face against age-based prejudices with inspiring stories from all over the world. I promise you by the end of our chat, your perspective on aging will be, if not transformed, then at least challenged.

So wherever you are, sit back, relax, and let's dive deep. into this exploration of age, society, and the dynamic dance between the two. In the first segment of today's show, I will explore understanding age perceptions and biases. First, I'm going to take you on a little trip down memory lane. Remember the times when we heard phrases like, you are too old for that, or that's a young person's game?

I want to dive deep into why such stereotypes exist. In the first place, what is it about age that brings about these biases? And trust me, it's not just something you and I have noticed. These perceptions are everywhere, and together, we are going to decode them. It's time to shed light on the fights many faces against age, discrimination, and how these biases manifest.

I bet you'll find it as fascinating as I do. So in the second key topic, I want to celebrate the amazing seniors around us. The narrative of what it means to be a senior is changing rapidly. Have you noticed that? Longer, healthier lives mean new opportunities and challenges. I will share some intriguing trends about how our modern seniors are leading their lives.

And believe me, they are not just sitting in rocking chairs. They are challenging aging cliches left and right. We are talking about travel, technology, entrepreneurship. All the things society once thought were beyond a certain age. And lastly, I will be taking a peek into the future. The way I see it, living longer is not just a personal journey.

It reshapes our entire social structure. Families, economies, societal norms, everything evolves. And technology is playing a massive role in this evolution. I've got some fantastic insight. On how our beloved seniors are adapting to this digital age. But that's not all, together, you and I will explore some predictions I have about the evolution of aging, and trust me, the future looks exciting.

So before getting into it, let me give the show some context. You know, in my line of work, I often come across stories, patterns, and insights that have truly opened my eyes. Over time, I've realized that many of these revelations pertain to how we perceive age, especially in our fast-paced digital age.

 Today, in this live podcast, I want to share some of these insights with you. Maybe you felt them in your life, or perhaps you've observed them in others around you. That said, together, you and I are about to embark on a conversation that goes beyond mere numbers and looks at the essence of age in our modern world.

Now that I've set the stage, let's delve into our first main point. I've always believed that to challenge a system or change a mindset, we first need to understand its foundation. So together, you and I are going to unpack the common age perceptions and biases that have become so ingrained in our society.

I will first address breaking down age stereotypes. In today's society, as our society progresses, the way we perceive aging is changing. Previously, senior citizens were perceived as weak and essentially not productive members of society. But nowadays, seniors are challenging that notion in abundant ways.

Many older people remain physically active. while being linked to their local communities. Plus, they use new technologies for staying connected with family and friends or keeping up to date about what's going on around them. They seem to know how to take advantage of any opportunity life presents to them. And it is clear that healthy aging is becoming more and more popular.

Just look at the stats. Over half of people over 65 are actively keeping fit. And it makes sense because exercise has so many benefits for both your body and your mind. This way you can maintain a better quality of life as you get older.

To keep things interesting, many seniors pick up hobbies like photography or woodworking, which let them stay sharp mentally while having some fun with their creativity. While it's obvious that ageism still lingers in our society, many initiatives are being taken to get rid of these stereotypes. For example, AARP Foundation Experience Corps is an organization that provides beneficial opportunities for volunteers aged 55 and over who want to make a difference in their neighborhoods by educating kids or offering help at schools and nonprofit sources around the U. S. My question is, how great would it be? If more people from our generation could contribute and collaborate I believe that it would really find success both on the individual and societal level, because this type of program not only aids in diminishing ageism but also provides indispensable resources where they are most needed, developing beneficial connections between generations, while allowing aged adults an opportunity to maintain involvement with their neighborhood after exiting from the customary work environment.

Moreover, there has been an upsurge in firms catering expressly to elderly people. From eateries serving healthier dishes that have been customized for dietary requirements related to aging, to closing stores, supplying fashionable, yet cozy garments appropriate for any circumstance. Clearly, this indicates that business owners recognize the worth of having senior demographics as clientele as well, and it is quite obvious that seniors who stay socially active tend to live longer than those who don't provide further confirmation against outdated opinions concerning what mature citizen can or cannot do based solely on age alone. Now, I'm going to talk about understanding the concept of age bias. As the elderly population increases, So does our need to comprehend and tackle age-related issues.

Age bias is one of these difficult challenges with both clear and hidden effects on senior citizens. Defined succinctly, ageism is any mindset, deed, or practice that discriminates against seniors based on their age. Unfortunately, it manifests itself in a variety of ways, from decisions made within businesses to how older individuals are portrayed by media outlets.

Sadly, this kind of prejudice often goes unrecognized or even regarded due to its covert nature. Have you ever seen or been in a situation where someone was treated unfairly because they were deemed to be too old for something? I will add that when it comes to age bias. There are two distinct forms, institutional and interpersonal.

Institutional discrimination refers to how institutions, such as employers or schools, treat older adults differently than they do other people, like denying them access just because of their age or refusing opportunities based on how old a person is. Interpersonal discrimination describes the way individuals interact with each other. 

This includes teasing and mocking about aging, plus physical violence targeting senior citizens. We all know that it is not right to discriminate against someone purely because they are old. So can you imagine what life would be like if others treated us all equally, regardless of our ages? Let's face it.

Our culture is full of stereotypes when it comes to elderly people. But I will say that today's seniors are proving these out-of-date assertions wrong by staying active and connected in their community as they grow older. Believe it or not, a lot of senior citizens nowadays have vibrant lives filled with hobbies, trips, and strong relationships among friends and relatives, showing that aging doesn't always equate to decreasing the quality of life.

This switch to an optimistic portrayal has led more organizations to recognize how rigorous elders can be through their expertise and wisdom. This also encourages conversations about what Growing old gracefully looks like for all those involved, which reaches far beyond just getting wrinkles on your skin.

Now, let's address the fight against age discrimination. The fight against age discrimination has been going on for centuries. Unfortunately, ageism is still present in many areas of life, especially when it comes to work opportunities. Other people are often excluded from promotions and not considered for new employment roles simply because of their age. Unfortunately, though, attitudes towards seniors have changed over the past few years with people now recognizing the value that they bring to a workplace environment, no matter what background or age group they belong to. Could this be an indication that more positive changes concerning age discrimination are finally coming?

With a growing realization of what a valuable asset senior workers can be and how beneficial age diversity is for businesses, there has been an overall shift in attitudes about employing older people. The stigma that usually comes with getting old is slowly being erased as employers are now making more efforts to create welcoming environments for seniors. Organizations such as AARP have taken this further by introducing initiatives tailored specifically to cater to elderly employees. Things like flexible schedules and continued learning chances that let them maintain their skills or try out different hobbies.

All these efforts demonstrate just how much worth we put on our aging peers today. So today, seniors are experiencing a new reality. Living longer lives than ever before and taking on second careers or encore moments later in life. Organizations like Encore focus on providing career coaching programs that help older individuals transition back into the workforce after retirement, thus connecting them with job openings at companies that value experienced candidates. These late-career hires bring a wealth of knowledge to their roles, having gained years of experience throughout their working lifetime, coupled with an eagerness to keep up to date by learning fresh skills necessary for success within changing industries and changing markets.

Businesses can benefit from this untapped talent pool whilst setting themselves apart competitively when they create positive work environments where these employees feel valued and appreciated. Now that I've peeled back the layers of age perceptions and biases, let's transition to the second key topic.

A brighter, more dynamic aspect, the modern lifestyle revolution uncovers the new realities of aging and their profound impact on our world. I will talk about the real game changers of our society, the modern seniors, their resilience, their best for life, and their unwavering spirit are truly redefining the entire landscape of aging. 

I will first address the aging trends reshaping senior lifestyles. As the population continues to age. Today's older generations are anything but conventional. Instead of just living for a long time, they are actually leading healthier lives and indulging in different activities that help mold what it means to be elderly nowadays.

This modern silver generation I would say is changing the typical notion of aging like never before, something which would have been inconceivable not so many years ago. So nowadays, seniors have far more contact with each other than they used to because of the internet and because several social media sites, such as Facebook or Twitter, make communication easier between them. What does this mean? It means that our senior citizens can keep up with their friends. Much easier these days due to technology and how cool is that? People nowadays can easily stay connected to their friends located around the world.

All they need is a video chat application like Skype, Zoom, Google Meet, or FaceTime, and boom, they are able to engage in face-to-face conversation without needing any physical displacement from one place to another. Moreover, with just a few clicks on either their computers or smartphones anybody today may access different types of information almost immediately.

So what a remarkable thing. With more life years to live, seniors are seizing opportunities that just weren't available before. There is a newfound freedom in pursuing hobbies and interests, no matter the cost or physical limitations. This also means taking advantage of activities they didn't have when younger, like traveling abroad and enjoying outdoor experiences such as hiking and camping, which may not have fitted into their lives back then due to demanding full-time careers.

It really begs the question, who says you cannot do something after retirement? I could tell you, that seniors nowadays are proactively taking control of their own health by adopting healthier lifestyles through dietary modification and tailored exercise regimens that meet the demand of their age group.

With all the information available on nutrition, elderly adults now have better insight into making choices about what food to eat, which can keep them active and fit even well in old age without compromising taste or enjoyment while consuming quality foods. Additionally, today's seniors have shown remarkable technological proficiency with computers as well as smartphones, enabling them to stay informed about current affairs, shop online, explore and research topics, manage their finances digitally, play video games, listen to music, and watch movies on streaming websites. Overall, connecting more closely with family members over long distances, and so much more. The possibilities seem almost limitless. Considering the new doors this generation of seniors is opening up daily. 

A huge leap from anything any preceding generation had access to not too long ago. Now, having explored the transformative trends that are shaping seniors' lifestyles, let's pivot to another intriguing facet, the reality that many are now living longer, richer lives than ever before. Today, the older generation is showing that age does not have to be a limited factor.

With advanced medical treatment and better lifestyles, more seniors can now expect to live longer than ever before. They are breaking records for people over 65 living into their 80s and even beyond. This has opened up an exciting range of opportunities for today's elders. They are no longer held back by fear of what age might mean as they pursue activities like travel, as I mentioned, sports, and hobbies.

It really looks like the sky is the limit. The fact is that seniors nowadays... are living longer and healthier lives. Thanks to better nutrition and exercise, many retirees out there have maintained an incredible level of physical health for a long time after retiring. These changes in the way older adults lead their lives break down all those conventional stereotypes.

Instead of seeing them as fragile or feeble people who stay inside at home all day, these days a lot of elderly folks keep an active lifestyle, which involves interacting with friends and family members or even getting involved in club organizations created especially for them, which has become quite common nowadays.

Moreover, advances in medical technology have significantly improved the physical and mental health of elderly people. Depression, anxiety, or other forms of mental illness can now be managed through medication; as well as counseling services offered by trained specialists. This has enabled seniors to live life on their own terms without worrying about how these conditions might affect them negatively later down the line.

Similarly, those with chronic illnesses, such as diabetes or heart disease, are better equipped to manage their symptoms thanks to treatment made readily available. Allowing them a greater degree of freedom when it comes to managing everyday activities. This is essential for preserving an adequate quality of life that would otherwise suffer if left untreated over time.

Now that I have touched on the extended lifespan we are seeing today, I am going to delve into how seniors are flipping the script and boldly challenging age-old aging cliches. So recently, older people have been receiving more and more coverage in the media as they stand up against outdated stereotypes about aging, rather than admitting defeat to age, these modern seniors are demonstrating that you can still make life fulfilling. Just look at Joe Biden and many others, right? The freedom of choice this gives them means many elderly folks now possess a level of flexibility when it comes to their retirement years.

Activities such as launching businesses or even teaching online courses have become much easier with new technology available for use, enabling those enjoying later stages in life to create an individual lifestyle that suits their needs best. I will say that today's seniors are defying the stereotypes of aging by remaining active and taking advantage of new opportunities to enjoy life. Not only are they engaging in activities that keep them physically fit, but they are also looking for ways to increase their financial security during retirement. They see travel as a great way to do this. Research from AARP shows nearly half of people aged 50 or over make at least one international trip each year.

This represents twice the rate compared with younger generations, it not only helps combat physical condition associated with aging, but it is also an opportunity for meaningful cultural experiences or even volunteer work abroad. The truth of the matter is that modern seniors are definitely different from the generation that came before. Not only do they want to keep their voices heard when it comes to politics and community affairs, but many of them also have embraced technology like never seen before. Whether it's attending town hall meetings or voting regularly, today's senior citizens often make a bigger impact than previous ones did on society as a whole. Moreover, with modern technologies such as smartphones and tablets replacing television for entertainment purposes, they download podcasts instead of reading newspapers. They stream music online instead of listening exclusively to radio broadcasts, etc. These elderly folks now have access to countless opportunities for growth and exploration during retirement age, which was previously impossible, it certainly appears that this generation is making the most of their older years in every manner possible. Now, having witnessed the audacity of modern seniors in defying age-old beliefs. Let's cast our gaze forward and move on to today's episode's third and final point, the technological and societal future of aging.

I will start off by discussing the impact of longer lifespans on social structures. Then I'll do, I will delve into how extended lifespans affect family structures, economies, and societal norms. As the median age of the world rises, its effect on social structures and norms is increasing as well, so people are living longer than they used to, which means that retirement ages have changed, and senior citizens now redefine what it means when people say getting old.

Surprisingly, many seniors today seem more active in comparison to their predecessors. This has caused some noticeable alterations in how our society perceives growing older. The classic concept of retirement no longer exists. Rather, we see a much better attitude about aging nowadays. As you get older, there is no need to quit working. People in their 60s, 70s, or 80s continue to work full-time. Others are pursuing travel or art. They remain active members of the community by joining church groups while taking on new challenges like mastering a foreign language or starting businesses. This change is seen not only among individuals but also reflected in government policies designed for aging with initiatives aimed at seniors to stay engaged in society. It goes without saying that if our society is to remain healthy in the future, we need to move away from outdated stereotypes of aging and start respecting older individuals.

The world population is continuing to age rapidly. It is becoming increasingly important for us to focus on both potential opportunities brought about by these demographic changes, as well as associated challenges. To do so effectively will require certain initiatives across a range of areas, such as social security reforms, allowing for flexible retirement ages, tax relief for entrepreneurs at age 50 or above reduced tuition fees aimed at those returning back into education at later stages in life, improved health care services, specifically tailored toward elderly needs, along with schemes designed with senior safety in mind and safeguarding them against abuse and exploitation. All these are key steps forward to creating a socio-cultural environment where everyone can enjoy their golden years, regardless of how old they get. Now, I would like to shift the focus to the transformative role technology plays in shaping senior lifestyles. 

In recent years, technology has become more and more important in the lives of seniors. With an aging population, older adults are increasingly relying on tech to help make life simpler and keep them connected with loved ones. Technology is having a noticeable effect on senior lifestyles.

As I noted before, from using video chat apps such as Skype, Zoom, or FaceTime for long-distance family visits, to voice recognition software like Amazon's Alexa for fast access to information, it's becoming hard not to find traces of today's technological advancement everywhere you look. So how easy have we made our days through these innovative methods and how much closer do they bring us all together? Seniors are now able to tap into the wonders of mobile apps, which can help keep track of their health and fitness levels. Smartwatches have become quite popular recently because not only do they monitor steps taken, but also remind users about medication schedules or doctor's appointments.

Telemedicine is a blessing for seniors who might struggle with physical limitation concerns. It allows them easy access to medical professionals without having to step out. Since its inception, computer technology has advanced greatly. Even newbies can easily get information from around the world just by doing some clicks with their mouse.

Can you imagine how convenient that must be? Seniors now have access to plenty of information online from hobbies and travel destinations to healthcare advice or financial tips. They are also social media platforms, making it easier for isolated seniors due to physical distance or mobility issues. These virtual

communities give them a chance at friendship and support they may not be able to find in traditional activities. due to age-related ailments or other aspects associated with aging. Smartphones offer further options as they are small enough yet provide an array of services like video calls texting capabilities, music streaming, you name it. it's no surprise then why so many elderly folks are taking advantage of the technology available today and incorporating it into their everyday lives. Now, having seen the profound influence of technology on seniors' lifestyles. 

Let's turn our gaze to the horizon and look at predictions about the forthcoming evolution of aging. As time moves on, our understanding of aging is changing. Back in the day, elderly people were perceived as one group who would generally spend their days at retirement homes or medical units. However, nowadays... Seniors are not adhering to this expectation. They are living longer and healthier lives, frequently staying employed all through their 70s, even into their 80s, thanks to advancements such as technology they can stay connected with those close to them from any part of the world now more than ever before. As people get older, they can take advantage of more options when it comes to travel and leisure activities that weren't widely available in the past. So what does the future hold for aging? It looks like personalized medicine is going to be a major part of it. This new trend has been making waves over recent years as an effective way to give everyone, regardless of age, healthcare specifically tailored just for them. Seniors could benefit from this greatly since their medical needs might require something different than a one-size-fits-all approach. So with personalized medicines, Seniors will have access to treatment better suited for them, which may help facilitate graceful aging.

The emergence of this type of medicine brings a great opportunity for seniors to gain control over how their health evolves as they age, which was not something achievable before. Home care services will be increasingly indispensable in the future. Both provide much-needed help with everyday tasks for medical care and offer companionship and support networks for the elderly who might otherwise feel lonely due to distance or other their hand causes. Think for a moment. What life would have been without advanced home assistance options? As technology advances, more and more opportunities open for remote healthcare options like telemedicine visits. These allow seniors to stay engaged with top-notch Health care without having to leave home if traveling becomes too difficult due to the aging process.

Furthermore, there is likely going to be an increased focus on supporting seniors not only physically but mentally throughout life, rather than just managing chronic conditions when they come up. It could be a game changer in leading a full life despite age-related physical limitations, instead of struggling each day without a proper support system in place. With these new approaches, elderly individuals can remain independent in their homes much longer while still receiving the necessary level of attention from medical professionals whenever needed. So in conclusion, aging is part of life. But it doesn't mean that seniors cannot have fun or try new things.

Older adults are proving age is not a defining factor by living long and fulfilling lives as they are challenging outdated stereotypes, taking up interesting activities as well and becoming business owners. This shows younger generations that it's possible to make the most out of their elderly years if they choose to do in my opinion, we should continue our efforts. Understanding how we age, stop any negative bias against those older than us, and show respect for senior lifestyles, and only then will each generation be able to live happily ever after reaching old age. So tell me, are you looking to make a real impact?

Then why not reach out to an elderly person today? Reaching out in the form of writing a letter or making a phone call can bring some much-needed relief and comfort into someone else's life. Especially now, when many seniors are feeling alone and isolated, it is essential that you offer your support, however small.

All it takes from your side is being kind-hearted and having the willingness to put smiles on people's faces. Plus, there is no need to step outside your home as nowadays there are plenty of options for keeping those living in assisted care facilities or at home with limited movement connected.

You could come up with some interesting activities such as playing games over the phone or simply talking about what's going on these days. Every bit. matters. So show your appreciation now more than ever before. If you are searching for ways to help out amid this challenging time, then do get involved straight away.

So before I end this episode, let me quickly recap what I talked about today. I delve into the age perceptions and biases we often encounter and sometimes even harbor ourselves. I highlighted the dynamism and spirit of modern seniors who, in my eyes, are generally changing what aging looks like. I touch upon the blessing of living longer, more fulfilling lives, and the audacity with which today's seniors defy age-related stereotypes.

I also explored the transformative impact of technology and the lives of our seniors and looked forward with hope and anticipation to the future of aging. In essence, what I've shared today paints a portrait of a society in flux of age being more than just a number and of seniors who are pioneers. In their own rights.

As I draw this enlightening conversation to a close, let me take a moment to reiterate the dramatic shift we are witnessing in our perception of aging. Gone are the days of viewing our senior years as a mere sunset phase. Instead, today's modern seniors are stepping up, taking charge, and reshaping that narrative, turning their golden years into a vibrant dawn of new opportunities. Moreover, one aspect that consistently underscores the shift is financial wellness. It's no secret that with longer, more active lives come the need for more substantial financial planning. Navigating this new reality demands both foresight and strategy. And as high-earning professionals especially women, it becomes vital for us to not only embrace this shift in perspective but to arm ourselves with the tools and knowledge to make the most of these extended years.

So here is my call to action for you. I challenge you to re-evaluate your own beliefs and perceptions about aging. Consider what this new era of longevity means for you. Both mentally and financially. And if you are looking for guidance, remember you are not alone on this journey. I invite you to tap into specific resources I curated. Or even better, let's have a one-on-one consultation. Together we can strategize and ensure you are not only prepared for the future but truly thriving in it. Thank you for joining me today. And let's champion this new age of aging together. And with that, I have reached the end of this Enlightenment episode.

As you know, I like to end my show with a quote, and today I chose one from Mark Twain, and it reads, Age is an issue of mind over matter. If you don't mind, it doesn't matter. Before we sign off, I genuinely want to extend my deepest gratitude to you for tuning in. It's because of engaged listeners like you that I can have these transformative conversations, particularly on subjects as crucial as the evolving narrative around aging.

I'd also like to take a moment to acknowledge the invaluable insight and contribution I received for this episode. A big shout out to various experts and passionate seniors who share their personal stories and experiences, challenging our perspective and enriching our discussion. Now, a little teaser for what's coming up.

The next episode promises to dive even deeper. into a topic that's at the forefront of many of our minds. While I won't give away too much, I can assure you, it's something that ties directly into our journey to financial wellness. So make sure to join me next week, Thursday, at the same time, as we continue to break barriers and we define norms together.

Thank you once again, and until next time, keep challenging the status quo and forging your unique path. I am your host, Marie-Jo Caesar. I will be back again next week. Until then, continue merging life and money. Bye for now.