In This Edition

Global Conference Highlights
Project Spotlight
New Issue Brief
Thought Leadership
From our Advisory Board

Global Conference Highlights

The 2024 Milken Institute Global Conference grappled with critical issues, from geopolitical hotspots and the ongoing climate crisis to the complexities of artificial intelligence. This year’s event united our catalytic community to tackle these challenges and seize the opportunity to shape our shared future collectively.

The Future of Aging team convened four panels at the event, which can be viewed on demand and are described below.

Financial Industry Leaders Revolutionizing America’s Retirement Landscape

A lifetime of hard work should translate into a dignified and secure retirement in America, yet economists project that 40 percent of Americans will run out of money during retirement. Many factors perpetuate the US retirement crisis, including economic inequality and wage stagnation, the lack of access to employer-sponsored retirement savings plans, and soaring healthcare expenses. As 2024 represents the apex of baby boomers reaching age 65, there’s an urgent need for bold leadership, innovation, and action to advance lifetime financial security. This panel included our nation’s top financial leaders, who shared what they are doing to “retire inequality” and ensure that all Americans can enjoy a healthy, financially secure future.

Left to right: John Carter, president and chief operating officer, Nationwide Financial; Thasunda Brown Duckett, president and CEO, TIAA; moderator Jennifer Ablan, editor-in-chief and chief content officer, Pensions and Investments; Penny Pennington, managing partner, Edward Jones; and Will Fuller, president and CEO, Transamerica

Panelist Penny Pennington also contributed to the 2024 Power of Ideas Global Conference Collection with the essay “We Aren’t Talking Enough about One Aspect of the Great Wealth Transfer.” Over the next two decades, baby boomers and the Silent Generation will pass down a combined $84.4 trillion in assets to younger generations. Dubbed the “Great Wealth Transfer,” this phenomenon is already underway and will impact millions of families.

Longevity Lab: Can You Live to 100?

Despite an increase in lifespan over the last century, most people spend the extra years in poor health. The future of health care is set to undergo a significant transformation, emphasizing a healthier and more active aging process. Looking ahead, prioritizing “healthspan” will help us make the most of the opportunities that come with longer lives. During this discussion, experts shared practical approaches to increase the number of healthy years we experience, highlighting the positive impact a healthier population can have on both the economy and society.

Left to right: Paul Irving, senior advisor, Future of Aging, Milken Institute; Diane Ty, managing director, Future of Aging, Milken Institute; Dan Buettner, founder, Blue Zones, LLC; Peter Diamandis, founder and executive chairman, XPRIZE; moderator Allison Aubrey, health correspondent, NPR News; Kristen Fortney, co-founder and CEO, BioAge Labs; Lloyd Minor, dean, Stanford University School of Medicine and vice president for medical affairs, Stanford University; James Bethell, former minister and member, The UK House of Lords; Rajiv Ahuja, director, Future of Aging, Milken Institute

Silver Threads: Weaving the Caregiving Tapestry

The intricate threads of the family caregiving experience in America create a complex tapestry filled with joy and love, but also with financial stress and health impacts. What may caregiving look like in the future, as innovators, business and government leaders, and advocacy experts labor to unravel the complexities and weave a new vision for this profound experience? Panelists spotlighted cutting-edge technologies, innovations enabling connected care, and the state- and employer-based policies needed to reshape the landscape and empower us to provide better care for ourselves and our families.

Left to right: Naimish Patel, president, health care practice, Red Cell Partners; Hon Pak, senior vice president, head of team, digital health team, mobile eXperience, Samsung Electronics; Yvette Nicole Brown, actress; Kai Walker, head of retirement research and inclusion transformation, Bank of America Workplace Benefits; Dor Skuler, founder and CEO, Intuition Robotics; and moderator Richard Lui, anchor and journalist, MSNBC and NBC News

Future of Aging Advisory Board Meeting – Private Session

Longer lifespans require all sectors to rigorously apply an equity orientation as we work to extend healthspans (years living in good health) and wealthspans (years with the financial means to support desired lifestyles). In this session, members and esteemed guests focused on solutions bridging health, finance, and philanthropy to make "healthy longevity and financial security for all" actionable. A presentation by Roger Ferguson, immediate past president and CEO of TIAA, opened the meeting, which segued to a moderated discussion led by Ty. Panelists included Claire Casey, president of AARP Foundation; Catherine Collinson, CEO and president of Transamerica Institute; Surya Kolluri, senior vice president and head, TIAA Institute; and Sarita Mohanty, president and CEO of The SCAN Foundation.

Moderator Ty and guest presenter Roger Ferguson, immediate past president and CEO of TIAA

Future of Aging Advisory Board members and meeting participants

Project Spotlight

On April 8, the Milken Institute Future of Aging and The Johns Hopkins University Business of Health Initiative brought together prominent employers, researchers, caregiving advocates, and representatives of the business community for a half-day convening at the Johns Hopkins University Bloomberg Center in Washington, DC. The group discussed the need to raise private-sector employers’ awareness of the unique hurdles faced by working family caregivers, especially those caring for older adults, and opportunities to identify, offer, and advocate for impactful and valued employer benefits and support programs aimed at improving their lives.

A special thank you to our project supporters and partners Edward Jones, Johns Hopkins University, and US News & World Report, as well as the speakers who shared their insights and expertise from organizations such as SHRM, SHRM Foundation, US Chamber of Commerce, Caregiver Action Network, Rosalynn Carter Institute for Caregivers, and Family Caregiver Alliance.

Left to right: Karen Kavanaugh, chief officer, strategic initiatives, Rosalynn Carter Institute for Caregivers; Marvell Adams Jr., CEO, Caregiver Action Network; Kathleen Kelly, executive director, Family Caregiver Alliance; and moderator Joanne Kenen, Commonwealth Fund journalist-in-residence, Johns Hopkins Bloomberg School of Public Health

New Issue Brief

On March 14, the Milken Institute Future of Aging team published an issue brief, Transcending Age-Based Divides: The Case for Scaling Intergenerational Solutions. Informed by leaders comprising the Milken Institute Future of Aging Advisory Board and other expert partners, this issue brief delves into the transformative potential of intentional intergenerational strategies. Authors included Future of Aging’s Director Lauren Dunning, Isabelle Shinsato, senior associate, and Avery Wallace, senior associate.

April 24: In an article for the National Council on Aging, author Donya Currie highlighted the Transcending Age Based Divides: The Case for Scaling Intergenerational Solutions issue brief. At a time when America is more age-diverse than ever, the idea of bringing generations together to solve problems like social isolation, housing shortages, and climate change is gaining traction like never before. In the article, Dunning shared the ways everyone can play a role in launching intergenerational solutions that foster community and break down silos.

May 7: Dunning was featured on the Aging Matters podcast along with Future of Aging Advisory Board member, Trent Stamp, CEO of The Eisner Foundation, to discuss the importance of intergenerational relationships, how people of different ages are working together to address societal challenges, and intergenerational strategies to achieve a common social good.

Thought Leadership

This section showcases external events, articles, media highlights, and more featuring Future of Aging leaders as speakers, authors, or expert interviewees.

External Events

February 28: Ty spoke at the Human Capability Initiative in Riyadh, Saudi Arabia, on a panel titled “Confronting the Unknown Unknowns.” The discussion focused on what we can and should do at a macro level to prepare for the future amidst an already accelerating transformation of how we live, play, and work.

Ty speaking at the Human Capability Initiative

March 5-6: Future of Aging’s Ty and Wallace spoke on panels at the NIC 2024 Spring Conference in Dallas. Ty was a speaker on “NIC Research & Analytics: Demonstrating the Value of Senior Housing and Care" discussing the methodology and recommendations from our 2024 report “Innovative Financing and Care Models to Scale Affordable Housing Solutions for Middle-Income Older Adults.” Wallace was a panelist on “Innovation Lab on Navigating the Middle Market: Strategies for Capital Success” where she also discussed strategies for meeting the housing and care demands of a growing population of middle-income older adults.

March 11: Ty provided the opening remarks, including highlighting the Milken Institute Alliance to Improve Dementia Care at the CaringKind 2024 Annual Research Meeting. Panelists discussed the latest breakthroughs in emerging therapies for Alzheimer’s disease treatment and how they are advancing hope and practical solutions.

Ty speaking at the CaringKind 2024 Annual Research Meeting

March 12: At the 2024 South by Southwest (SXSW) Conference in Austin, a panel on Longevity Cities: Optimal Environments for Healthy Aging was moderated by Rajiv Ahuja. Panelists included Dan Buettner Jr., executive vice president and chief development officer, Blue Zones; Marc Freedman, founder and co-CEO, CoGenerate; and Upali Nanda, global director of research, HKS, Inc. From health services to connected communities, this panel explored the power of age-inclusive cities to foster healthy, more resilient lives. Check out Ahuja’s key takeaways from the panel here.

March 20: Ahuja spoke at the unveiling of the 2024 World Happiness Report in Washington, DC. The convening of well-being experts, policy practitioners, and thought leaders featured a discussion of the report's data and how economic development, global affairs, and political attitudes affect national well-being to ensure a well-lived life through all its stages.

March 25: Future of Aging’s Ahuja (moderator) and Ty (panelist) convened a session, “Guiding the Care Journey: The Role of Care Navigators in dementia care,” at the American Society on Aging’s 2024 On Aging Conference in San Francisco. They were joined by Alliance to Improve Dementia Care members Debra Cherry, executive vice president, Alzheimer’s Los Angeles; Lisa Groon, senior health systems director, Alzheimer’s Association; and Kate Possin, John Douglas French Alzheimer’s Foundation Endowed Professor, University of California, San Francisco. The discussion focused on the importance of navigation services to advance comprehensive dementia care.

May 13: Dunning spoke on a panel at the Future Health Summit at Abu Dhabi Global Healthcare Week. The summit explored the latest advancements in genomics, regenerative medicine, and geroscience and their transformative impact on human longevity. The conversation dove into extending healthspans, eradicating aging-related diseases, and promoting meaningful later years, all while maintaining a global equity perspective.

Dunning and Evelyne Bischof, director, Sheba Longevity Center, Sheba Medical University Hospital, Israel

Articles and Op-Eds

March 14: Ahuja was a co-author of the issue brief, “Brain-Healthy Cities: How Urban Planning Can Foster Healthy Brains and Minds,” for Rice University’s Baker Institute for Public Policy. This issue brief advocates for the development of urban environments designed to promote brain health, mental well-being, and healthy longevity.

April 15: Ahuja wrote the foreword for the 2023 Annual Longevity Investor Report from Longevity. Technology. As aging research evolves, this report provides information to guide investors, policymakers, and industry leaders in shaping the future of healthy aging. “The emerging longevity ecosystem is attracting substantial investment, indicating a shift towards proactive wellness strategies and innovative aging-related therapeutics,” said Ahuja.

April 30: Future of Aging’s Dunning and Wallace co-authored, “Innovation and Integration: Pathways to Serve the ‘Forgotten Middle’,” for the American Society on Aging’s Generations recommending solutions to solve the challenge of providing affordable senior housing solutions for middle-income older adults that also meet their evolving preferences and care needs. The recommendations shared in the article are based on the Milken Institute “Innovative Financing and Care Models to Scale Affordable Housing Solutions for Middle-Income Older Adults” report.

May 3: In a joint opinion piece for NextAvenue titled, “Tackling the Happiness Problem Plaguing Young Americans,” Paul Irving and Jennifer Rossano, Milken Institute Future of Aging project researcher, highlighted the opportunity for older Americans to help their younger counterparts overcome some of the challenges eroding happiness and well-being. In today's America, young people are disproportionately afflicted by social isolation and loneliness. Leveraging their strengths, older adults can stand up and show up for their younger counterparts, actively seeking cross-generational connections, collaborations, and alliances, building community, promoting resilience, and employing their wisdom and experience to offer support and perspective.

May 17: Ty penned an article for AARP International titled “Older Workers: America’s Surging Asset,” which highlights the benefits of hiring and retaining older workers. In the article, she emphasizes the need to overcome society's pervasive ageism toward older adults and leverage their knowledge and experience in the workplace.

Podcast

March 28: In an episode of the Art of Aging podcast for United Church Homes, Dunning and Caitlin MacLean, senior director from the Milken Institute Innovative Finance team, spoke about the best ways to grow into your health and wealth and how aging and financial innovation coincide. Throughout the discussion, Dunning explored the challenges of demographic change, focusing on healthspan, financial security, and housing for older adults.

Media Mentions

The Milken Institute Future of Aging is proud to partner on the documentary and engagement campaign for Caregiving, currently in production. The film will examine caregiving from multiple perspectives: the creation and evolution of the care system, the social dynamics that shape our approach to caregiving today and its future possibilities, the lives of caregivers and their relationships with those in their care, and the interpersonal and economic pressures faced by caregivers. Lead by Executive Producer Bradley Cooper, the two-hour documentary is slated to premiere on PBS in Spring 2025.

April 11: Ty spoke to US News & World Report for an article titled, “What Is Respite Care and Where Can I Find Respite Caregivers Near Me?” The informative piece outlines different types of respite care, costs, resources, and where to find respite caregivers. “Everyone deserves the dignity of aging well in the place they call home,” said Ty.

Comment Letter

March 21: In collaboration with Milken Institute Feeding Change, the Future of Aging submitted a comment letter responding to the US Senate HELP Committee’s Request for Information on the Reauthorization of the Older Americans Act. The letter highlighted key priority areas to support older adults aging at home, enhance their care teams, and improve nutrition and flexibility through meal programs.

From our Advisory Board

• Alice Bonner, senior advisor for aging at the Institute for Healthcare Improvement, spoke to the Oregon Capital Chronicle about the societal need to care for and pay attention to older adults.

• The National Investment Center for Seniors Housing & Care​, led by Ray Braun, president and CEO, supported a new study from NORC at the University of Chicago. The study shows a positive relationship between senior housing, longevity, and preventive health for older adults.

• Dan Buettner, a new member of our Leadership Council and founder of Blue Zones, LLC, was profiled in GQ to discuss his lifestyle, diet, and tips for longevity.

• Laura Carstensen, director of the Stanford Center on Longevity, delivered the 2024 Commencement address at the University of Rochester and received an honorary doctor of science degree at the ceremony.

• Pinchas “Hassy” Cohen, dean of the University of Southern California (USC) Leonard Davis School of Gerontology, spoke to Medical Xpress about the new era of weight loss drugs such as Ozempic, Mounjaro, and Wegovy and their potential for ameliorating diabetes, as well as preventing the frequency of heart disease and stroke.

• Catherine Collinson, CEO and president of Transamerica Institute, was awarded the Plan Sponsor Council of America 2024 Lifetime Achievement Award for her nearly three decades of dedication to the retirement industry working to improve outcomes through research.

• The Massachusetts Institute of Technology AgeLab, founded and directed by Joseph Coughlin, recently announced a five-year research collaboration with John Hancock to explore the critical tenets of longevity in the US and develop a first-of-its-kind longevity preparedness index.

• Ken Dychtwald, founder and CEO of AgeWave, co-authored an article for the Harvard Business Review on redesigning retirement and the case for engaging adults over 65 in the workforce.

• Linda Fried, dean of the Columbia Mailman School of Public Health, provided opening remarks at the Healthspan Extension Summit. The summit brought together researchers from across the medical field to present findings in basic science, clinical medicine, and public health and discuss how these fields can ensure healthier, longer lives.

• Scott Frisch, executive vice president and chief operating officer of AARP, spoke in a fireside chat at the AARP AgeTech Collaborative Founders Summit to discuss the state of AgeTech and where it’s heading in the future.

• Terry Fulmer, president of The John A. Hartford Foundation, provided the 2024 Commencement Address at the University of Mount Saint Vincent and received a doctor of humane letters, honoris causa. Fulmer is the first honorary degree recipient at the university.

• Teresa Ghilarducci, director of the Schwartz Center for Economic Policy Analysis at the New School, was featured in The New York Times Magazine article “Was the 401(k) a Mistake?” for her prediction that 401(k)s would leave vast numbers of Americans without enough money to retire, reducing many to poverty or forcing them to continue working into their late 60s and beyond.

• Lynn Goldman, dean of the Milken Institute School of Public Health at George Washington University, joined public health scholars and health care organizations in filing a friend-of-the-court brief to protect the Emergency Treatment and Labor Act.

• Jennie Chin Hansen, independent consultant to Hirsch Philanthropic Advisors, received a doctor of humane letters from Harvard University for her career as an innovative and influential leader in care for older adults.

• Michael Hodin, CEO of the Global Coalition on Aging, wrote an article for the Times of San Diego on a recent appeals court ruling in California, which, he argues, could endanger patients, undermine health equity, and slow progress toward life-saving medications.

• Robert Kramer, co-founder and strategic advisor, NIC, and president and founder, Nexus Insights, spoke to McKnights Long Term-Care News about the critical need for long-term providers to use data as a solution for achieving change in the Medicaid Advantage system.

• Surya Kolluri, a new member of our Leadership Council, and senior vice president and head, TIAA Institute, coauthored an opinion piece for The Hill outlining the key steps Congress can take to help caregivers’ finances.

• Abby Levy, managing partner and co-founder of Primetime Partners, was featured on Bloomberg to share the toughest lessons she has had to learn as a top investor.

• Becca Levy, professor of epidemiology at the Yale School of Public Health, spoke to NextAvenue about her research on negative aging beliefs and the impact these beliefs can have on physical and mental health.

• Sarita Mohanty, president and CEO of The SCAN Foundation, was a guest on Abacus Insights to discuss how incomplete and biased health data is perpetuating care disparities, which may grow worse if payers train new AI apps on this data.

• Jennifer Molinsky, director of the Housing an Aging Society Program at the Harvard Joint Center for Housing Studies, partnered with Generations United and LeadingAge to convene a group of experts, including Ty, at an event in Boston to create a blueprint to increase intergenerational housing and communities in the US.

• Eunice Lin Nichols, co-CEO of CoGenerate, was a guest on the Disrupted podcast to discuss the value of intergenerational connections and how they can help in a polarized society.

• Hon Pak, senior vice president, head of team, digital health team, mobile eXperience, Samsung Electronics, spoke on a panel at SXSW that examined the current state of sleep quality amidst societal pressures, uncovering trends, and revealed the transformative potential of AI and technology for better sleep.

• Penny Pennington, managing partner at Edward Jones, provided opening remarks at the MIT AgeLab PLAN Forum highlighting how new technologies, changing consumer preferences, and increasing life expectancy will shift the financial advisory profession into longevity planning.

• Andrew Scott, professor of economics at the London Business School, was profiled in the Financial Times for his book, The Longevity Imperative, and his work emphasizing our aging population as a beacon of opportunity for societies and economies.

• Rodney Slater, partner at Squire Patton Boggs, was the keynote speaker for City Year Little Rock’s 3rd annual Red Jacket Luncheon in May, which focused on the ways national service helps unify and strengthen communities.

• Trent Stamp, CEO of the Eisner Foundation, was featured in the April 23 episode of The Heart of Giving podcast where he spoke about The Eisner Foundation’s intergenerational mission, and why it’s critical to bring people of different ages together.

• Fernando Torres-Gil, professor of social welfare and public policy and director of the Center for Policy Research on Aging at the University of California, Los Angeles, was profiled in an article for NextAvenue on his vision for fixing the current and future caregiver shortage in the US.

• The Bank of America Workplace Benefits team, led by Kai Walker, head of retirement research and inclusion transformation, released the 2024 Workplace Benefits Report to provide perspective on today’s issues and trends and guide employers in establishing more relevant, meaningful, and inclusive financial wellness programs.