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We’re living in a new era of longevity with the potential of longer lifespans, healthspans and wealthspans. Maddy Dychtwald, co-founder of Age Wave, joins us to discuss their new report The New Age of Aging and the implications for all of us.
Maddy Dychtwald joins us from California.
Recognized by Forbes as one of the Top 50 female futurists globally, Maddy Dychtwald has been deeply involved for nearly 40 years in exploring all aspects of the age wave and how it’s transforming the marketplace, the workplace, our world, and our lives. She is an internationally acclaimed author, public speaker, Wall Street Journal blogger, and thought leader on longevity, aging, the new retirement, and the ascent of women.
A successful entrepreneur, in 1986 Maddy co-founded Age Wave, the world’s leading think tank and corporate adviser on the far-reaching and profound impacts of our global aging population. The Age Wave team has worked with more than half of the Fortune 500 in industries ranging from healthcare and medical technology to financial services and consumer products.
With women at the forefront of the longevity revolution, Maddy has deeply explored their specific longevity-related wants, needs, and challenges. She has led numerous acclaimed studies on women and money, including the landmark Women, Money and Power sponsored by Allianz and Women and Financial Wellness: Beyond the Bottom Line for Bank of America Merrill Lynch. Maddy also served as the national co-spokesperson for an in-depth investigation titled The Four Pillars of the New Retirement: What a Difference a Year Makes, sponsored by Edward Jones. In addition, she has been involved in more than 25 thought leadership research studies worldwide on aging, longevity, retirement, health, family, caregiving, housing, and leisure, which have been featured in prominent media outlets, including Bloomberg Businessweek, Forbes, Newsweek, Time, CNBC, and NPR—cumulatively garnering more than 12 billion media impressions.
As a member of The Wall Street Journal’s Expert Panel on Retirement, Maddy’s posts on leadership, wealth management, and financial planning topped the most-read lists for their categories in 2017 and 2018.
She is the author of three books, Cycles: How We Will Live, Work, and Buy (voted Book of the Year by the National Community Colleges Association), Influence: How Women’s Soaring Economic Power Will Transform Our World for the Better, and the children’s/young readers’ book Gideon’s Dream: A Tale of New Beginnings. Currently she is working on a new book, Ageless Aging: Women’s Longevity Bonus and the Art and Science of Living Longer, Better, to be published with Mayo Clinic Press which merges her professional and personal passions.
For More on Maddy Dychtwald
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On Eradicating Ageism
“This is really timely. [The report] just came out and we’re calling it the New Age of Aging. For that very reason, I’ve been on this beat for more than 37 years. We’ve been studying the issues related to longevity and the maturing of the population for an equal amount of time. So we began to see some real shifts taking place, real paradigm shifts. What we’re beginning to see is that for one thing, the older population is growing by leaps and bounds. In fact, for the first time ever, older adults will soon outnumber those under the age of 18. So today’s older adults, they are seeing the future really differently. They’re eager to pursue new dreams, new adventures, new goals. And what we’re really seeing is this old paradigm of defining old in a particular way. It’s beginning to fall apart, which is good news for all of us because we’re all aging. And we’re beginning to see older women and men beginning to believe that the cultural beliefs and the ageism that’s so prevalent and so embedded in our society needs to go away.”
“Purpose is a big one. In one of our studies, not this most recent one, but one that we did about six or eight months ago, we tried to delve into this whole concept of purpose. And what we discovered is that most people, both retirees and pre-retirees, believe that purpose is a key to success in retirement. So it used to be that we’re seeking youth. But what we discovered is that most people really believe that being useful is far more important than being youthful. And just to add to that, which is really kind of interesting, is that those people who say that they feel useful, they also seem to feel more youthful. So they go hand in hand, but the leader is purpose, and purpose is a key. By the way. It doesn’t have to be something big. For some people it will be coming up with a new career or volunteering in a way that they never expected to, but for other people it may be just taking care of their grandkids or walking the dog. So there’s all different kinds of purpose and there’s no one answer to the word purpose except that you need to have it in your life.”
“Legacy is a big word. We did a study that was exclusively on legacy a long time ago, about five or six years ago. And we did include questions on legacy in this particular study. And what we learned is that 65% of people agree that leaving a legacy is important and that it’s about values and life lessons. Let me repeat that. Values and life lessons are far more important to pass on than financial assets or real estate. Now, let me just say, we know that financial assets and real estate are important to pass on. Everybody agrees on that. But this idea of passing on what really matters in life and what you stand for and having your family understand that is huge. I think Erik Erikson said it really well. He said, I am what survives me. And frankly, I think we agree that what we stand for in life, our values, our morals, our ethics, these matter more than just our money.”
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Joe Casey is an executive coach who also helps people design their next life after their primary career and create their version of The Multipurpose Retirement.™ He created his own next chapter after a twenty-six-year career at Merrill Lynch, where he was Senior Vice President and Head of HR for Global Markets & Investment Banking. Today, in addition to his work with clients, Joe hosts The Retirement Wisdom Podcast, which thanks to his guests and loyal listeners, ranks in the top 1 % globally in popularity by Listen Notes. Business Insider has recognized him as one of 23 innovative coaches who are making a difference. He’s the author of Win the Retirement Game: How to Outsmart the 9 Forces Trying to Steal Your Joy.