“Shades of Grey” – This is how I would describe the world as the projected world median age touches 38 years in 2050 (Source: UN Department of Economic & Social affairs).
The dynamics of the human population are changing ever so rapidly and I can only dream of retiring at 60 and survive on my savings thereafter. There are approximately 2 billion people like me who cherish the same dream and are in for a lot of surprises if they are still not aware of how our world is going to shape up as we retire.
The present social security / pension systems will most likely collapse around the world as Governments would grapple with supporting huge older & unproductive populations. In the next few decades, the retirement age would be abolished and individuals would be free to either choose to work or support themselves financially by other means like personal savings in bank accounts. The Governments would only be able to support the elderly from the age of 75-80 years onwards.
With the median age touching 38 years in 2050, the average world productivity levels will further come down. Improved technology will cause widespread unemployment problems and there would be huge additional pressure on social benefits systems. Tax rates around the world would increase a lot to deal with huge responsibilities, like infrastructure, food etc, state has towards its citizens
The classical view of modern life will fade away and give way to a view very different. The challenges would be different and so would the aspirations. However, with a lot of optimism, I envision a world that is healthier and able to better cope up with high physical and mental demands of working beyond 60-65 years of age.