Joseph F. Coughlin is the founder and director of the Massachusetts Institute of Technology AgeLab, a multidisciplinary research program created to understand the behavior of the 45 and over population. It considers the role of technology and the opportunity for innovations to improve the quality of life of older adults and their families.
You say advisors have to think more broadly than just retirement to help clients plan for the future. Can you explain? JC: What people want to hear about is how to manage their longevity, not just retirement. That includes three things that most of us know we're going to have to address, but the banking and investment community is loath to discuss: the cost of our health, caregiving and successfully aging in place-that is, in our own home. All of those are major financial and service needs, but also big business opportunities for the banking and investment community.
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