The Concept of Continuous Wellbeing of Older Adults in Contemporary Demographic Shift

Abstract

The article is devoted to enhancing the wellbeing of older adults in Russia and abroad. The current trend of rapid growth in the number of the elderly worldwide is considered. The social and economic impacts of modern demographic shift changes are analysed: the structures of market demand, savings patterns, labour supply, budgeted resource requirements, flow of financial resources and obligations. It is proposed to revise the existing economic model of modern society based on a new concept of continuous wellbeing of older adults. A new platform of wellbeing of older adults through their active involvement in the economic life of society is suggested. The option of creating a new concept of wellbeing on the basis of the revival of mentoring is considered. In the framework of a study examines the changes in the market of consumer goods and services; labour market; a system of accumulation and savings; transformation of financial resources.