Older, Smarter.....and French

This blog has been off the air for a few weeks and apologises to our many readers around the world. One of the reasons for this – apart from pressure of work, of course – is that information about matters related to older people is becoming increasingly prevalent. There is no point in simply re-circulating what is already in the public domain, so we haven’t.

Having said that, here’s a quick summary of a few things from the past few weeks that we think are worthy of comment.

• Lower taxes. The threatened increase in Capital Gains Tax to 40% did not take place, for whatever reasons (a compromise between appeasing the LibDems and the City, one imagines). An increase to 40% would have affected the many older people depending upon investments to support themselves. 28% seems generous by comparison.
• More work. The state retirement age is due to increase to 66 for men – but not until 2016 – and to 68 in 2040. For women, it will increase to 66 in 2018. Not too surprising when one considers that the number of people aged over 65 will increase by 50% between 2008 and 2033. For many poorer people this will mean another year or more of low paid work if they are lucky enough to have a job, and another year of unemployment for the many people aged 50-65 who do not have a job. When the retirement age was set at 65 in 1940, the average life expectancy was 60 – not over 80 as it is now.
• What does ‘old’ really look like? Stereotypes of what it really means to be ‘old’ continue to be eroded – slowly. Ringo Starr and Tom Jones have just celebrated their 70th birthdays. And Myrrha Stanford-Smith, 82, has signed a three-book publishing deal. Her first novel, ‘The Great Lie’ was published last week.
• ‘Silver surfers’ live! Research by Nielsen has been announced, showing that increased usage of the internet has been driven by people over 50. In fact, people aged 50-64 account for 25% of all internet users – but less than 15% of the total population. And yes, the newspapers reporting this cannot wait to use the hackneyed phrase ‘silver surfer’ – a redundant stereotype, surely. I know many people over 50 who use the internet – but few if any have grey or silver hair.
• Grumpy old men are no more. Several pieces of psychological research have been publicised, suggesting that people get nicer as they get older. Research by Professor Karen Fingerman found that younger people are more aggressive and confrontational than older people, who in turn are more forgiving and friendly. Perhaps grumpy old men are an endangered species (although I still know a few).
• Our research presentation is on the road. Our presentation – Marketing and Older People – has now been presented to a number of the UK’s leading organisations. Based upon our comprehensive research report, drawing on more than 150 sources, this presentation is now a tour de force of slickly presented information, generously interspersed with finely-honed ad libs and bon mots. Book your presentation now, while we’re still on tour.
• Older, Smarter…and French. And while we’re talking French, McKinsey have published a report on what population ageing means for France. Their research found three inter-related major trends reaching a tipping point and fundamentally transforming the country: an ageing population, changing household types and economic factors slowing the expansion of wealth. All of this means that the average French household in 2030 will be older, better educated and less wealthy than the average household today. This mirrors the findings of our own research in the UK – to book your presentation or read the report, visit www.rhcadvantage.co.uk .