NM NEW’s Post

America is graying rapidly, according to the Census Bureau. The median age in the U.S crept up to 38.9 in 2022, up 0.2 years from 2021. And this is part of a decadeslong trend — in 2000, the median age was 35.3. In 1980, it was 30. In fact, the Census pointed out, America's oldest age group grew faster in the 2010s than at any point in more than a century. From 2010 to 2020, the American population aged 65 and older grew by 38.6% — the group's fastest expansion since the 1880s. Here's what it could mean for your practice. #retirement #retirementplanning #financiallanning #livinglonger #longevity #wealthmanagement #demographics #clientmanagement

Our co-founder Steven Goh is sharing why our product is so powerful to disrupt the industry. He is referring to the insightful article by Financial Planning, in which you discover how the aging U.S. population is reshaping wealth management strategies. You gain insights into the evolving landscape and its implications for financial planning. Direct link to the article: https://lnkd.in/gT2DAenD #WealthManagement #AgingPopulation #FinancialPlanning #AIinFinance #YRBL

Millennials' choices today could shape tomorrow's economy. With birth rates falling sharply, experts warn of potential long-term economic strains—from reduced GDP growth to strains on social security. Initiatives to encourage childbearing and adapt housing policies may play vital roles in addressing these challenges. Read our blog post to learn more about the demographic shift thoughtfully for a prosperous future. #Millennials #EconomicImpact #DemographicShift

By 2030, the U.S. Census estimates that all 76.4 million Baby Boomers will be 65 or older 📊 That’s a staggering number. And thanks to better healthcare and healthier lifestyles (the longevity movement) people are living longer than ever before. At the same time, birth rates are at a record low. 📉 This demographic shift is creating an unprecedented demand for assisted living care. But here’s the challenge: the current infrastructure isn’t equipped to handle it. Many facilities are outdated. The level of care often falls short of what our aging population deserves. This isn’t just a societal issue. It’s a massive opportunity for investors. The need for better assisted living care is urgent. And the market is ripe for innovation and investment. Imagine being part of a movement that transforms how we care for our elders. That improves quality of life. That offers peace of mind to families. Investing in assisted living care isn’t just about capitalizing on a growing market. It’s about making a difference. It’s about creating spaces where people can age with dignity. Where they feel valued and cared for. The numbers don’t lie. By 2030, the demand will be undeniable. The future of assisted living care is bright. And the opportunity is now. ________ Are you ready to be part of the solution? To invest in a sector that’s not only profitable but impactful? Comment down below! ⤵

If demographics is destiny then high spending could stick. (30/4/2024) Eyes are on house-rich baby boomers. An interesting column in the Australian Financial Review titled: How Boomers are busting homes for rate cuts. It makes some powerful arguments about wealth effects in Australia and abroad. It highlighted a 2023 study from Visa that changed thinking about spending. Most studies imply consumers spend between 4-15 cents of each dollar increase in wealth via housing and financial assets. However it found that figure has tripled from 9-cents in 2017 to an estimated 34-cents in 2023. Why this is so critical is because Baby Boomers are flush, particularly in places like Australia where the housing market has been a windfall. It's also true in the US, where Boombers invested in equities have done very well. The AFR column highlights that more research needs to be done, particularly given the rise in wealth in the past five years and surge of retirements from Baby Boomers. As a correlate, Ed Yardeni wrote on the weekend that: “.. retiring Baby Boomers are likely the reason that the personal saving rate is falling; they’re depressing the rate as they spend their retirement funds and no longer have earnings to save. In addition, they are spending at a record pace on labor-intensive services, this boosting labor demand." #affinmoneybrokers

Millennials Overtake Baby Boomers as Canada's Largest Population Group In a historic demographic shift, Statistics Canada reports that millennials have now surpassed baby boomers as the country's largest population cohort, marking the end of the boomers' 65-year dominance. This change, highlighted in the latest population estimates, reflects the ongoing evolution of Canada's demographic landscape, with immigration playing a key role in moderating the aging population's impact. While this trend slightly reduces the average age in Canada for the first time since 1958, it also signals potential challenges and opportunities in sectors such as healthcare, labor, and infrastructure. The government's immigration strategy appears to be a pivotal factor in addressing these demographic shifts, with long-term implications for Canada's societal and economic fabric. #millennialsleadership #dethroned #CanadaDemographics #PopulationShift #StatisticsCanada #ImmigrationImpact #AgingPopulation #SocietalChange #HealthcareEvolution #labormarketshifts #InfrastructureNeeds #GovernmentStrategy #EconomicImplications #veritasmedia

From The Associated Press Income gap between Black and white US residents shrank between Gen Xers and millennials, study says "By age 27, Black Americans born in 1978 to poor parents ended up earning almost $13,000 a year less than white Americans born to poor parents. That gap had narrowed to about $9,500 for those born in 1992, according to the study released last week by researchers at Harvard University and the U.S. Census Bureau." "In contrast, the class gap widened for white people between the generations — Gen Xers born from 1965 to 1980 and millennials born from 1981 to 1996. White Americans born to poor parents in 1978 earned about $10,300 less than than white Americans born to wealthy parents. For those born in 1992, that class gap increased to about $13,200 because of declining mobility for people born into low-income households and increasing mobility for those born into high-income households, the study said." "Black people from low-income families saw the greatest economic mobility in the southeast and industrial Midwest. Economic mobility declined the most for white people from low-income families in the Great Plains and parts of the coasts." #CensusData #SocialClass #GenerationalShift #DemographicTrends #MillennialGeneration #GenX #RaceAndIdentity #SocioeconomicStatus #DataAnalysis #SocietalChange #WealthGap #IncomeGap #UpwardMobility https://lnkd.in/gxCmTBUs

There are a number of changes which seem to be happening all at once that will have profound effects upon every company. The articles below and the attachment will give you some indication of what's happening as we speak. Population demographics has been ignored for years. There is no ignoring it now. The Demographic Drought https://lnkd.in/dURk_Pb Worker shortage is real https://lnkd.in/dsgZtsv US Birth Rate Declines https://lnkd.in/dfvNjm6 Legal immigration has been virtually non-existent the past 4 years Retention and recruitment: What leaders need to know in the post-pandemic workplace. https://lnkd.in/duerWsB? utm_sou Call or schedule an appointment to see if or how I can help you. Schedule an appointment - https://lnkd.in/gMBbupJ

Summary: A recent analysis of individual-level data from the Census Bureau's 2022 American Community Survey shows that the typical mover leaving California is a Gen Z or millennial, unmarried, and making around $53,500 a year. Many are relocating to states like Texas and Arizona for lower costs of living, improved work-life balance, and better climate conditions. Takeaway: The exodus from California is driven by a younger demographic seeking a more affordable and slower-paced lifestyle, with many finding opportunities for better work and living conditions in states outside of California. Hashtags: #CaliforniaExodus #MovingTrends #CostofLiving #GenZ #Millennials #BusinessOpportunities #WorkLifeBalance #NewBeginnings

Demographics and the 2020s There seems to be a worker shortage in the US right now. The job (and stock) market is hot despite recent dire recession calls. Why? What about Covid’s effect on the retirement of the Baby Boomers? Covid forced financial stimulus and all the supply bottlenecks, which set us on course for recession. Can demographics help explain the longer-term economic challenges in the 2020s? https://lnkd.in/dpFjZ-jv