A recent report by Bank of America looked at investment themes for a changing world. One of the areas that the report identified as a source of change is the increasing modern life expectancy. In fact, the number of living people in the world over the age of 60 is expected to double from 841 million in 2013 to more than two billion by 2050.
These aging populations will certainly put pressure on global retirement systems. Bank of America predicts that many countries could see an increase in retirement-related costs of up to 50 percent of 2010 GDP by 2050.
However, there is also a positive side to these aging populations, as this demographic will be contributing heavily to the global economy in the future. In fact, the spending power of the age 60-plus population is expected to reach $15 trillion by 2020.
Analysts see three potential ways to invest in this growing population:
1. Health care-related stocks (treatment of age-related disease)
2. Financial stocks (insurance and asset management)
3. Other age-specific product and service stocks (senior living, travel and leisure, and technology)
The stocks that Bank of America recommends as a means to capitalize on the opportunities that will be created by the expanding over-60 population include the following…
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