Andrew J. Scott’s work on the Longevity Economy offers a compelling lens through which to view the future of Los Gatos, with its significant and growing older adult population. Rather than framing increased life expectancy as a societal burden, Scott emphasizes the economic opportunities that arise from a larger, healthier, and more engaged older demographic. Understanding and embracing the Longevity Economy is essential for sustained prosperity and community vibrancy.
A significant portion of Los Gatos’ residents are aged 65 and over. This isn’t a looming crisis, but rather a powerful economic force waiting to be recognized and engaged. The “traditional aging society” narrative, as Scott argues, focuses on the costs associated with an older population. In contrast, the Longevity Economy framework highlights the potential for economic growth driven by the needs, desires, and contributions of older adults.
One aspect of this is the increased demand for goods and services tailored to longer lifespans. In Los Gatos, this translates to a growing market for specialized healthcare, including preventative care and geroscience—areas Scott emphasizes as crucial for a healthier longer life. The existing concentration of high-net-worth individuals in Los Gatos further amplifies this potential, creating opportunities for businesses that cater to sophisticated health and wellness needs. We might see a rise in concierge medical services, personalized fitness and nutrition programs designed for seniors, and innovative technologies supporting independent living.
The Longevity Economy extends to housing. As more residents choose to age in place, the demand for accessible and adaptable housing increases. The recent approval of senior housing in town signals a recognition of this trend. However, as Scott points out, it’s not just about age-specific communities. Many seniors in Los Gatos desire remaining in their existing homes. This creates opportunities for home renovation services specializing in universal design, as well as for businesses offering support services that allow seniors to maintain their independence, such as home care, transportation, and meal delivery.
Beyond consumption, Scott’s vision of the Longevity Economy emphasizes the continued productivity and engagement of older adults. Los Gatos, with its highly educated and experienced population, stands to benefit significantly from fostering opportunities for longer working lives and continued civic participation. This could involve businesses offering flexible work arrangements, phased retirement options, and retraining programs that allow older workers to adapt to evolving industries. The town’s community organizations and volunteer initiatives can further tap into the experience and skills within its older population, fostering social connections and contributing to the local economy in non-traditional ways.
However, embracing the Longevity Economy in Los Gatos also presents challenges. Affordability is a concern. While the town boasts a high median household income, many seniors on fixed incomes struggle with the increasing costs of living, particularly in housing and healthcare. Ensuring equitable access to the opportunities of the Longevity Economy requires proactive measures, such as exploring affordable senior housing options, providing financial assistance programs, and supporting access to affordable healthcare services.
Transportation is another consideration. Maintaining mobility is key to enabling older adults to remain active, engaged, and independent. Los Gatos needs to ensure robust and accessible transportation options for seniors, connecting them to essential services, social activities, and employment opportunities. The RYDE program is a positive measure, but initiatives to expand and tailor transportation services to the specific needs of Los Gatos seniors is vital.
Scott also highlights the importance of lifelong learning; Los Gatos needs to adapt its educational and recreational offerings to cater to the diverse interests and needs of its older population. The partnership between the Town and LGS Recreation in providing senior services is a strong foundation. Expanding these programs to include more opportunities for skill development, lifelong learning, and intergenerational engagement will enrich the lives of older adults and contribute to a more dynamic community.
Scott’s Longevity Economy framework offers a powerful and optimistic vision for the future, one that Los Gatos is well-positioned to embrace. By recognizing the economic potential of its growing older adult population, fostering opportunities for their continued engagement and productivity, and addressing the challenges of affordability and accessibility, Los Gatos can ensure the well-being of its senior residents and build a more resilient, vibrant, and prosperous community for all ages. The shift in perspective from an “aging society” to a “longevity society” is a call to action to unlock the immense potential that lies within our longer lives.
