Now is the time to invest in the enormous potential of aging baby boomers, says the head of an advertising agency specializing in aging consumers.
"The capital markets and big financial players have discovered that there's gold in aging," writes Peter Hubbell, founder and CEO of BoomAgers, for
The Huffington Post. "While the youth-driven marketing community sees silver hair and looks the other way, the investment community sees nothing but gold ... and lots of it."
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Major investors who previously pursued new technologies or emerging markets have recognized the market's potential. The aging trend extends around the world, he says.
Investors once talked about the BRIC nations (Brazil, Russia, India and China) but now the hot investment topic is demographic, not geographic.
"While global aging as a demographic trend has been underway for some time, it is only now being recognized as a business priority," Hubbell writes. "The fact that aging is now a big-time investment opportunity comes as no surprise to experts who have been tracking the phenomenon."
Aging was the top topic at the recent Milken Institute Global conference, he notes. One panelist, AARP Senior Vice President Jody Holzman, estimates that the global aging population accounts for $7.1 trillion in economic activity.
The Census Bureau estimates that the number of people in the U.S. 65 and over will grow about 110 percent by 2060, and the number of Americans over 85 will grow 200 percent, Hubbell says.
In 2014, the last of the baby boomers will turn 50.
"The main takeaway from all of these data points," he says, "is that aging is big, and it's a trend that is here to stay."
Many baby boomers say they'll continue working after age 65. Some say they never plan to retire. That means they'll have more disposable income for investors to target.
"Creating wealth by targeting the wealthiest generation? This is simple logic that smart money gets."
Inc. magazine names several companies that could ride the aging wave.
CareLinx runs an online marketplace connecting people to home health care providers. Lift Labs is developing products for seniors with shaking hands, such as a device that stabilizes spoons or a fork they're holding.
Lively offers Internet-connected sensors that help care givers keep tabs on seniors in their home, and Always Best Care franchises provide home health care, including nonmedical personal care and skilled home health care in some markets.
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