Opportunities of Ageing Conference – 100413 slide 1 What is wealth? And how it affects older people presentation to Opportunities of Ageing Conference.

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Presentation transcript:

Opportunities of Ageing Conference – slide 1 What is wealth? And how it affects older people presentation to Opportunities of Ageing Conference Dr Ganesh Nana Chief Economist Business and Economic Research Ltd 10 April 2013

Opportunities of Ageing Conference – slide 2 Economics and wealth is all about liquidity swap rates house prices interest rates inflation leverage debt hedge funds ratings

Opportunities of Ageing Conference – slide 3 Wealth is … liquidity swap rates house prices interest rates inflation leverage debt hedge funds ratings people machinery & equipment land buildings water technology skills & knowledge experience businesses networks innovation iwi whānau

Opportunities of Ageing Conference – slide 4 … and economics is about … how we (choose to) use resources (wealth) to *produce things we want, need, desire *look after, maintain, or replenish resources *improve and/or expand resources consumer benefit investment to replace investment to grow

Opportunities of Ageing Conference – slide 5 Our choices in using wealth

Opportunities of Ageing Conference – slide 6 Wealth individual perspective financial health and physical social participation life experiences

Opportunities of Ageing Conference – slide 7 Wealth accumulation as we age liquid financial

Opportunities of Ageing Conference – slide 8 Wealth accumulation as we age illiquid financial

Opportunities of Ageing Conference – slide 9 Wealth accumulation as we age health and physical

Opportunities of Ageing Conference – slide 10 Wealth accumulation as we age social participation

Opportunities of Ageing Conference – slide 11 Wealth accumulation as we age life experiences

Opportunities of Ageing Conference – slide 12 Wealth accumulation as we age

Opportunities of Ageing Conference – slide 13 Drivers of accumulation of wealth

Opportunities of Ageing Conference – slide 14 Drivers of wealth liquid financial income *education opportunities *employment opportunities *abilities financial literacy *understanding *opportunities luck

Opportunities of Ageing Conference – slide 15 Drivers of wealth illiquid financial spending behaviour savings habits *home ownership options family circumstances financial literacy *understanding *opportunities luck

Opportunities of Ageing Conference – slide 16 Drivers of wealth health and physical lifestyle and diet family history / circumstances housing situation *living conditions *physical environment income luck

Opportunities of Ageing Conference – slide 17 Drivers of wealth social participation family circumstances social situation *isolated or connected? status of wider networks *schools *business *community income luck

Opportunities of Ageing Conference – slide 18 Drivers of wealth life experiences family networks *schools, business, community passion and/or opportunity to explore income luck

Opportunities of Ageing Conference – slide 19 Drivers of wealth... and, finally... endowments *whakapapa *status or history *knowledge or understanding *financial

Opportunities of Ageing Conference – slide 20 Or, is wealth … collective *family *whānau *iwi nation

Opportunities of Ageing Conference – slide 28 Business investment as % of GDP

Opportunities of Ageing Conference – slide 29 Government investment as % of GDP

Opportunities of Ageing Conference – slide 30 Labour force participation rate

Opportunities of Ageing Conference – slide 31 Labour force participation rate – 60-65yos

Opportunities of Ageing Conference – slide 32 Labour force participation rate – 65+yos

Opportunities of Ageing Conference – slide 33 Govt education expenditure as % of GDP

Opportunities of Ageing Conference – slide 34 O pportunities of ageing to contribute to accumulation of wealth across all dimensions *life experiences *social participation *health and physical *financial *and collective and so to improve (increase) resources available for nation to make its choices

Opportunities of Ageing Conference – slide 35 NZ 2012 population but the next 25 yrs ??? man drought