The Future of Retirement: How Technology Will Make Aging Easier

I remember my first “mobile phone” like it was yesterday (calling it “mobile” was a stretch).

It was the late 1980s, I was in my first sales role, and our VP wanted all sales reps to be accessible while traveling.  I recall the technician installing the “box” part of the phone in the trunk of my company car, and how I had to remove it from the mount and into a case for carrying.  The thing was huge and similar to the following picture I found here:

In 1996, I got a Palm Pilot.  I loved that thing.  I remember the docking station and how you had to hit that “synch” button to run an update between your computer and the Palm unit. For the first time in my career, I could ditch my physical address book and calendar and view things on my computer or the Palm unit. I loved the cool stylus that slid sleekly into the case. 

I was, finally, hip.  😉

A trip down memory lane wouldn’t be complete without mentioning the 2002 introduction of the first Blackberry smartphone, whose nickname “Crackberry” came years before people knew of the addictions The Dopamine Cartel would later spread to the world.  I loved my BlackBerry and the irresistable tactile pleasure those buttons provided (I’ve never enjoyed the “smooth-faced” phones to the same degree as those wonderful little buttons):

A lunky old mobile phone, my first Palm Pilot, and the infamous CrackBerry… A fun trip down memory lane, but what’s my point?

It’s easy to look in the rearview mirror and see the improvements technology has brought into our lives.

But what about the future? 

How will technology impact our later years?

Technology is changing fast. How will it impact our later retirement years? Today, we take a look… Share on X

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As a salesman in the mid-1980s, I thought nothing of pulling into a hotel in the middle of the day and using my corporate calling card in the pay phone cubicle to check in with the office secretary. Voice mail wasn’t a thing, so the secretary dutifully wrote down the messages and recited them when I called in. I remember those hotel corridors lined with pay phones, and the mass of other salespeople doing the same thing.  

It’s just the way it was 40 years ago.

We had no idea what was coming, and we were fine with how things were.

As it was in the past, so it will be in the future.

From the beginning of my career to the end of my career, the world changed. From the beginning of my retirement to the end of my retirement, the world will change again.  We have no idea what is coming, and we’re fine with how things are. But one thing is certain:

The speed of technological advancement will only increase, and our lives will be impacted in ways we can’t imagine.

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Technology We’ll Use When We’re “Old”

It’s easy to look back and recall the changes that have occurred, but it’s entirely different to try to predict what the future will bring.  Sure, we’ve all heard about ChatGPT, but few of us truly grasp the impact AI will have on our later years.  

None of us knows what the future holds, but it’s interesting to imagine what impact technology will have on our old age. Based on some research I’ve done and using my imagination, here are a few things we may have to look forward to.  They seem far-fetched, but considering how far we’ve come in the past few decades, and recognizing the pace of technology will only increase, these projections may fall short of the reality we’ll be living when we’re “old.”

“Aging In Place” will become far more practical, and children who live miles away from their widowed Mom will have more options to provide care from afar.  Transportation will change, as will the way “support” services are provided for the elderly. 

Some ideas to consider…

Robotic Advancement:  When we’re “old,”  we’ll look back on that Roomba in the same way we look back at that 10-pound “mobile” phone today.  It worked, but we had no idea where the advancements would lead.  Advancements in robotics, combined with AI technology, will revolutionize our elderly lives.  Our robot assistants will carry in the groceries, keep our homes clean, and help us get out of bed (and into our robotic wheelchairs). Self-driving vehicles will, at some point, become common, eliminating the need for future generations to take away their parents’ keys.

AI Personal Assistants:  An AI “nurse” who monitors us and is available 24/7 will be helpful for our far-away children, and a natural solution for the increased healthcare needs as Baby Boomers reach old age.  In addition to ensuring we take our daily medications, our assistant will monitor our vitals, detect if we fall, and automatically contact emergency personnel in the event of an emergency.  Personal safety devices could be available, which will automatically deploy in the event of a fall or when they detect instability.  “I’ve fallen, and I can’t get up” will become a thing of the past.  The burden of caregiving will be greatly reduced for children or spouses dealing with aging loved ones.

Financial Management:  The role of today’s financial planner will change dramatically. With the projected shortfall of financial planners, AI will fill the gap and become embraced by most.  Automated rebalancing, monitoring of your financial accounts, fraud detection, and automatic refilling of your spending accounts will reduce the need for personal contact with an advisor.  Smart advisors are already getting ahead of this trend by offering in-house AI features as part of their service, allowing them to serve a larger account base with the same hours of personal involvement.  Client expenses will fall accordingly.

Predictive Healthcare:  Doctors will treat a disease before you get it.  Healthcare technology will move to preventative solutions rather than today’s “reactive” healthcare business model.  AI monitors will constantly monitor your vitals and notify professionals in real time if something changes.  Technology will learn to detect anomalies that increase your risk of certain diseases, and preventative medicine will become the norm.

AI Companionship:  Loneliness is an epidemic, and AI will evolve to meet the need for companionship.  Lifelike robotics are a certainty (it’s not if, but when), and their AI brain will tell you exactly what you want to hear.  If you think those algorithms on your social media are addictive, wait until you meet your new AI friend.  Some of us will call them our best friends. It’s sad, in a way, but compared to spending your latter years in a state of loneliness, it seems the lesser of two evils. 

Memory Preservation:  I suspect we’ll see some breakthroughs in Alzheimer’s research (perhaps it’s wishful thinking).  Technology will lead to breakthrough cures for many of the plagues of aging.  Cognitive augmentation will provide AI-driven tools to help keep the mind sharp. The way we pass memories down to future generations will become almost life-like.  Our great-great-grandchildren may view 3D holograms of us telling stories about our lives.  More likely, our likeness will be preserved with AI and carry on conversations with the generations that follow.

Increased Lifespan:  By the time we get there, we’ll be celebrating our 100th birthday with plenty of friends. Technological advances will reduce the death rates of many common diseases, and improvements in preventive health care will result in an increased life expectancy.  Nutrition and fitness programs will be customized via AI to address your areas of greatest weakness. Folks in their 90s will be running marathons.  Not only will we live longer, but we’ll be healthier for most of those years. I fully expect I’ll live to 100, and I hope I’m still writing the occasional post to be able to tell you, “I told you so.” (wink)