In many parts of world, people are living longer compared to before. Some argue that this matter create complications for governments and people, while others believe that they can contribute to meaningful benefits in the long term.
One major reason why having more elderly individuals in the society is beneficial, would be the contribution they offer towards younger individuals. Older people are generally known to be more experienced, skillful, and have their own traditional beliefs and wisdom. For example, grandparents normally hold cultural values by preserving their tradition and strengthening their family bonds. Not only that, but many retirees in the world can continue to do voluntary work which can contribute to the nation’s economy.
Furthermore, these elderly are still considered to be in the consumer market as they continuebto purchase daily necessities and consumption. This arises the business opportunities as well as employment to develop specialised products for the elder consumers
Although elder people remain in the consumer market, there are still issues that occur regarding their expense. The majority of the retirees tend to be dependent on governments and families to support them financially. Consequently, if they experience age-related illnesses, it might impact the health system and takes up resources required by other people in society. Moreover, some older people are still employed which may cause a decline in the job market for younger individuals.
In conclusion, although it is true that an ageing population poses challenges for governments and other people in society, it is clear that the drawbacks are outweighed by the significant benefits that elderly people bring.