THE FINANCIAL EYE ECONOMY Is America’s Definition of Aging Out of Date? It’s Time for a Radical Change!
ECONOMY WHAT'S UP IN WASHINGTON?

Is America’s Definition of Aging Out of Date? It’s Time for a Radical Change!

Is America’s Definition of Aging Out of Date? It’s Time for a Radical Change!

It’s a scorching July day in 1977, and I navigate the sweltering streets of Phoenix in my underpowered Chevette. As a 17-year-old making deliveries, I rely on the “4-55” air conditioning – four open windows at 55 miles per hour. But it’s the long runs to Sun City that provide respite, where desert air and American Top 40 music blast through the car. However, upon my arrival, the seemingly endless circles of identical tract houses leave me with an eerie feeling. Sun City, world’s first “active retirement community,” is a sprawling city-like expanse offering countless amenities for entertainment, shopping, and fitness, catering to a generation that was once isolated or institutionalized.

As I gaze at the deliberate design of Sun City, I am reminded of the strides made in American life since its inception in 1960. A cultural revolution was afoot – Social Security and pensions liberated older Americans from poverty, modern medicine improved health, and programs like Medicare ensured medical care for the aging population. Poverty rates among the elderly decreased significantly, marking the U.S. government’s achievement in eradicating destitution in old age.

However, as James Chappel and Andrew J. Scott suggest, the concept of retirement needs revaluation amidst new demographic, fiscal, and social challenges. The evolution of American notions of aging highlights how aging is as much a social construct as a biological process. The historical shift from notions of shorter, disabled old age to living longer, healthier lives reflects societal and political influences on the aging process.

Challenges lie ahead in reconciling lifespan with health span, as longevity increases but not all added years are healthy ones. The second longevity revolution calls for a reimagining of institutions, expectations, and attitudes towards aging. Late adulthood emerges as a distinct phase, offering opportunities for new pursuits, part-time work, and community engagement.

Scott’s call for a culture shift to embrace the benefits of living longer resonates with the newfound possibilities that the longevity revolution brings. Late adulthood, a phase of wisdom, maturity, and prosocial contributions, challenges existing norms of retirement and age-based entitlements.

The second longevity revolution presents society with a chance to redefine the very essence of aging, work, and retirement. By embracing late adulthood as a unique life stage filled with opportunities for growth and fulfillment, we can unlock the full potential of extended lifespans. It’s time to rethink our notions of old age and embrace the gift of a longer, more enriching life.

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