Financial Services
How longevity is reshaping work, wealth, and well-being
Increasing longevity is forcing a rethink of public policy, individual lifestyles, and private finances. Yet it is crucial not to overreact or grow unduly alarmed about shifting population dynamics.
The world is getting older. In many of the markets where Julius Baer and other major international companies and institutions operate, the increasing number of senior citizens is no longer a temporary shift – it has become an enduring demographic reality. This trend has profound implications for individuals, society, the economy, and the business strategies of established organizations and emerging startups seeking to expand their global footprint.
According to the UN World Population Prospects 2024 report, the global share of people aged 65 and over has doubled since 1960 – from about 5% to 10% in 2024 (see chart below). By 2050, this age group is projected to make up 16% of the global population. In tandem with a decline in fertility and mortality, average life expectancy has also risen significantly – from just under 50 years in 1960 to 73.3 years in 2024. Key contributing factors include improved sanitation, better access to clean water, and advances in medicine.
The geographical spread of older adults is far from uniform. Data from the UN indicates that Sub-Saharan Africa will continue to be home to the youngest population globally, with roughly 70% of its inhabitants under the age of 30. In contrast, more than a third of the populations in the European Union, China, and Japan are expected to enter the “silver” age group – those aged 65 and above – over the next two decades. In addition to demographic aging, the UN estimates world population should begin to decline from its peak of 10.3 billion in the 2080s to 10.2 billion by the end of the century – about 6% smaller (or 700 million people fewer) than was projected a decade ago. Recent research has highlighted the potential plateauing of life expectancy, particularly across high-income countries, after decades of rapid increase. Paradoxically, baby boomers and people aged 50 and above are living longer, but not necessarily healthier, compared with previous generations: a dilemma of extended longevity in life.
Against this backdrop, it is no wonder that extreme demographic diversity has sparked both fascination and disbelief among policymakers, scientists, entrepreneurs, and investors alike. Yet it is crucial not to overreact or grow unduly alarmed about shifting population dynamics. Doing so risks oversimplifying the current landscape of longevity, which is shaped by genetics, environment, lifestyle, and their complex interactions. After all, every society organizes itself differently, shaping its own structures around family, religion, laws, education, and the economy – ultimately giving rise to vastly different cultures, traditions, and institutions across nations. Instead, the focus should be on empowering individuals to take charge of their personal health and well-being – a shift that could potentially lead to more positive demographic and developmental outcomes. In this context, population trends can offer valuable insights into how people live today and how we might prudently invest to create wealth over the longer term.
What we can learn from two hives of longevity: Singapore and Switzerland
Thanks to its engaging narrative and real-life examples, the 2023 Netflix documentary Live to 100: Secrets of the Blue Zones made longevity feel both attainable and aspirational. Coined by Dan Buettner, a National Geographic Fellow and explorer, the term “blue zone” has captured widespread media attention, fueled by humanity’s shared aspiration for a longer, healthier life. The five original blue zones – Okinawa (Japan), Sardinia (Italy), Loma Linda (California), Ikaria (Greece), and Nicoya (Costa Rica) – are distinguished by a higher concentration of healthy centenarians compared to other parts of the world. Why is that? According to Buettner, several lifestyle patterns are common across these regions:
- A predominantly plant-based diet, rich in legumes and vegetables.
- Regular, natural physical activity integrated into daily life, such as walking and household chores.
- The prioritization of family and social ties.
- A clear sense of purpose in life.
Some researchers, however, have questioned the “blue zone” concept, citing concerns about methodological rigor, the accuracy of population data, and the oversimplification of complex lifestyle factors. Nonetheless, the core themes – nutrition, physical activity, community, and purpose – remain universally recognized pillars of health and well-being. It is important to note that the five blue zones benefit from longstanding cultural traditions and environments that may differ significantly from those experienced by others in different contexts. Inhabitants often live with less dependence on large-scale industrial infrastructure, enabling lifestyles that are naturally more active, communal, and connected to nature. While there are valuable lessons to be learned from the blue zones, it is also necessary to explore and understand how modern nations with highly developed economic models, such as Singapore and Switzerland, achieve exceptional longevity through different means.
Dubbed a “Blue Zone 2.0” by Buettner, Singapore recently joined the ranks of the world’s longevity hotspots. According to data from the country’s Department of Statistics, the number of centenarians has more than doubled – from 700 in 2010 to 1,500 in 2020. This tropical island city-state has deliberately engineered an environment that fosters longer, healthier lives for its six million residents, making it a distinctive example of a “man-made” blue zone. Unlike the original blue zones, where longevity stems largely from ingrained cultural practices and natural lifestyles, Singapore’s success is driven by proactive government policies and urban design aimed at promoting public health. Low crime rates and strong governance further reinforce conditions conducive to well-being.
Key factors include a nationwide health initiative providing free wearable health-tracking devices to all citizens and permanent residents aged 17 and above, encouraging individuals to monitor and improve their activity levels. There is sustained public promotion of reduced salt and sugar intake to combat chronic diseases. Urban planning also plays a crucial role. The city has invested heavily in pedestrian-friendly infrastructure, including extensive networks of sheltered walkways and park connectors, which make outdoor movement accessible year-round despite the humid climate. In neighborhoods with high elderly populations – known as silver zones – special measures have been implemented, featuring improved road lighting, speed-calming measures, and clearer signage to enhance senior safety. As a result of these coordinated efforts, life expectancy in Singapore has risen from just under 65 years in 1960 to 84 years in 2024.
While Switzerland may not be one of the official blue zones, it is undoubtedly associated with a high standard of living, excellent public infrastructure, and political and economic stability. Life expectancy in Switzerland remains one of the highest in the world. According to UN data, it is expected to reach 84.2 years in 2025, compared with around 84 years in Italy and Singapore, and 85 years in Japan. As well as a clean environment, the country benefits from a deeply rooted culture of physical activity. Recent studies reveal that more than 75% of Swiss people lead an active lifestyle, regularly engaging in pursuits like cycling, equestrian sports, hiking, skiing, and swimming. Switzerland incurs one of the highest per-capita healthcare expenditures globally at around $8,000 per person, although this is lower than the roughly $12,500 per person in the US. Swiss residents can access a healthcare system known for its high standards of care and state-of-the-art facilities.
Switzerland is gaining recognition for its progressiveness in the field of longevity. An emerging ecosystem is taking shape – one that brings together an estimated 5,000 stakeholders from academia, clinical practice, private and public companies, and investors – all working toward a shared goal: prolonging healthspan and enhancing well-being. Switzerland’s approach to longevity stands apart from other countries due to a unique convergence of advanced biomedical research, financial expertise, supportive regulatory frameworks, and a strong emphasis on preventive and personalized medicine. Unlike traditional models focused solely on extending lifespan, the Swiss vision aims to ensure longer periods of healthy, active living. Leading hubs in this space are located in Geneva, Lausanne, and Zurich.
Is longevity here to stay, or is it hype?
While the promise of turning back the clock of aging through science has sparked hope among many and fueled science-focused well-being markets, such as the Swiss ecosystem, concerns are mounting that the longevity industry is becoming overly hyped. It is encouraging, therefore, that increasing numbers of longevity advocates now prioritize extending healthspan – the period of life spent in good health, free from chronic and debilitating diseases – rather than merely aiming to extend lifespan.
Yet, sparked by widespread anxiety about aging, this trend has given rise to a burgeoning industry peddling unsubstantiated “miracle” treatments. From questionable nutritional supplements to extreme dietary regimens that lack rigorous, peer-reviewed scientific validation, these offerings are often accompanied by extravagant claims that eternal longevity is just around the corner. For example, a 2025 report published by MIT Technology Review revealed that drugs approved only for specific medical purposes are increasingly being prescribed off-label to combat aging – a practice not without risk, as all medicines carry potential side effects. Put differently, the hype frequently oversimplifies the biology of aging and inflates the benefits of specific products and technologies, fostering unrealistic expectations of a “magic elixir” for immortality. The lesson here, for individuals, investors, and businesses, is to tread carefully.
Despite the sensationalism surrounding immortality, longevity science is making real progress. For instance, research has shown that approximately 80% of human aging is influenced by lifestyle and environmental factors, with only 20% attributable to genetics. This means that elements such as a balanced diet rich in vegetables and fruits, regular physical activity, effective stress management, sufficient sleep, and efforts to avoid harmful exposure to air pollution – alongside genetic makeup – play decisive roles in how we age and our susceptibility to age-related diseases.
A growing body of research on epigenetics, conducted at many higher education establishments – including the National University of Singapore, the University of Zurich, and leading US universities such as Harvard and Stanford – examines how behavioral and environmental factors can alter gene function without changing the underlying DNA sequence. Scientists have also identified the key hallmarks of aging – the fundamental cellular and molecular processes that involve the accumulation of damage over time, leading to a decline in cell and tissue function. These different hallmarks collectively drive the aging process and age-related diseases.
Take insomnia, for example. Some experts have warned that we are entering an age of widespread sleeplessness, with constant disruptions from social media feeds, the glow and buzz of all-night streetlamps, and ever-present stress. Chronic sleep loss not only leaves us tired, but it can also negatively affect our quality of life by impairing cognitive function, elevating the risk of mental and physical health problems, and reducing productivity at work. Chronic insomnia remains an underestimated public health concern. Over time, it can contribute to the risk of serious cardiovascular diseases, including high blood pressure, heart attacks, and strokes.
Globally, it is estimated that more than 16% of the population – around 852 million of us – experience insomnia, with women affected more frequently than men. To tackle the inability to sleep, an increasing number of people are turning to mindfulness meditation as well as wearables to track sleep patterns. In more severe cases, prescription medication is used.
Dry eye syndrome is another health condition that can negatively impact quality of life. Recent research from the American Academy of Ophthalmology reveals that older adults are more prone to experiencing the syndrome, with women twice as likely as men to develop the condition (see chart below). Hormonal changes – particularly during menstruation, pregnancy, and menopause – may alter the quantity and quality of tears, leading to dry eyes. However, promising news is emerging from the scientific community regarding eye health. Researchers at Harvard University have successfully rehabilitated vision in mice by reversing the biological clock in mature retinal cells, effectively reinstating more youthful gene function. This marks the first triumphant effort to reverse vision loss caused by glaucoma, rather than simply slowing its progress.
David Sinclair, Professor of Genetics at Harvard Medical School and a leading figure in global longevity research, has been investigating the use of epigenetic reprogramming to restore vision in animal models suffering from age-related vision loss and glaucoma. The experimental therapy employs a trio of genes – Oct4, Sox2, and Klf4 – commonly known as the OSK genes – which are naturally active in stem cells and possess the ability to reset older cells to a more youthful state.
While studies in nonhuman primates are still ongoing, mouse experiments have demonstrated that introducing the OSK genes can restore visual function by partially rejuvenating – and therefore improving – the function of retinal cells, particularly retinal ganglion cells. According to Professor Sinclair, the treatment activates an epigenetic program that enables cells to recover their earlier, younger epigenetic profiles. Though the precise mechanisms behind the therapy’s success remain unclear, these findings – if replicated by future research – could open new pathways for repairing damaged tissues and even reversing age-related diseases across multiple organs in humans: a remarkable development if achieved.
Why longevity is important for private banks and personal wealth
Changing global population dynamics and longevity trends are becoming an increasingly important factor for multinational companies and institutions. Changing demographics directly influence business strategies by reshaping consumer demand, prompting firms to adapt their product offerings and marketing to evolving shifts in age, income, and geography. Within this context, taking longevity into account is not only relevant but also essential for private banks like Julius Baer, driven by interconnected demographic, economic, and investment factors.
In particular, the wealth management industry is integrating longevity trends into its strategies, shaping investment approaches, client services, and financial planning solutions to address the needs of an aging global population. This shift extends client relationships over decades, thereby necessitating long-term financial planning that accommodates potentially longer – or more flexible – retirement timelines. As lifespans increase, so too does the likelihood of delayed intergenerational wealth transfer. Consequently, clients need to ensure their assets will sustain them throughout an extended retirement period.
Longer lifespans delay generational transitions, with clients retaining control of family wealth for longer, postponing inheritance, and impacting estate planning. For this reason, banks play a role in helping clients structure trusts, wills, and succession plans that adjust to these evolving timelines. Affluent clients are not only living longer but also remaining active well into later life. This creates demand for lifestyle-related services – such as investments in healthcare, concierge medical services, or age-appropriate real estate – enabling private banks to enhance holistic advisory models.
As longevity increases, risks related to cognitive decline or diminished decision-making ability become more prevalent. As a result, banks face a heightened responsibility in managing legal mandates, enduring powers of attorney, and safeguards through advanced care and contingency planning. Providing tailored advice on longevity risk allows Swiss private banks to position themselves as proactive, forward-thinking partners. In turn, this strengthens client loyalty and supports the industry’s reputation for discretion, stability, and bespoke service.
An impetus for action
The global landscape of longevity is complex. It involves a combination of demographic shifts, such as population aging, the growing burden of chronic diseases, and divergent national retirement and healthcare systems. It creates multifaceted challenges for the personal well-being of individuals and for the organization of societies and economies. That said, these challenges give further impetus to academic institutions to pursue more scientific research and development activities, alongside public and private companies – including startups – hoping to address potential gaps with novel therapies, products, and services in a burgeoning industry due to increased investor funding and growing consumer interest for an extended health-and-wealth span. Although demographic trends are often seen through the prisms of contrasting “boom” versus “doom” scenarios, they provide crucial insights that can ultimately impact how policymakers, scientists, investors, entrepreneurs, and business leaders prepare for the future.
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