Cashing in on longevity: Investors weigh risk, reward in multi-billion-dollar aging economy

THE NUMBERS ARE NOTABLE. Every day, roughly 10,000 Americans turn 65. By 2030, every Baby Boomer will be over that threshold. The Medicare budget is on track to double from $1 trillion to $2 trillion within a decade. And as much as $84 trillion of Boomer-held wealth is slowly making its way to the next generations. For venture capitalists who have been building portfolios in what they call the “longevity economy,” this is not a distant opportunity — it is arriving right now.

But turning demographic destiny into venture-scale returns has proven far harder than pitch decks suggest. After several years, the investors deepest in this space are candid about what’s working and what isn’t.