Logo

    Steph Smith: “This opportunity is totally overlooked”

    Sam Parr discusses with Steph Smith about the 'Silver Tsunami' mega trend, focusing on opportunities like monitoring and tracking health for seniors through services such as Stava for CGMs and solutions for 'nerd neck', along with niche senior paddle sports leagues.

    enSeptember 30, 2024
    1
    My First Million

    678 Episodes

    What does the term 'silver tsunami' refer to?
    How does increased lifespan affect retirement planning?
    What issues are highlighted regarding healthcare spending for the elderly?
    How can attitudes towards aging influence assisted living facilities?
    What changes in perspective on happiness occur as people age?

    • Silver TsunamiThe "silver tsunami" signifies longer lifespans, impacting retirement plans and healthcare costs, necessitating adjustments in financial and societal approaches to support aging populations effectively.

      We're experiencing a "silver tsunami," meaning people are living much longer than previous generations anticipated. This increased lifespan leads to significant implications for individuals, particularly regarding retirement planning, healthcare needs, and financial resources. For instance, the expectation to live into the 80s or 90s changes how people save for retirement, potentially requiring them to adjust their financial strategies to plan for 30 years of life after the traditional retirement age. Moreover, healthcare spending, such as on treatments like kidney dialysis, far exceeds funding for aging research, highlighting a systemic issue in how we allocate resources for longevity. Younger generations will need to grapple with supporting aging populations, prompting a reevaluation of societal and economic structures. The conversation emphasizes the importance of adjusting our views on life expectancy and the associated responsibilities to prepare for a future where living longer is common.

    • Aging OpportunitiesMenopause and aging populations present untapped business opportunities, especially in women's health and elderly care sectors, as the market continues to grow worldwide.

      Menopause marks a significant transition for women, often leading to health challenges due to hormonal changes. As millions enter menopause daily, the market for related health solutions is largely unaddressed. Additionally, demographics show increasing demand for nursing and assisted living facilities, providing opportunities for entrepreneurs, especially in aging populations like Japan, where homes are available cheaply due to declining birth rates. This situation mirrors the growing healthcare needs of the elderly worldwide, highlighting a potential boom for businesses focused on women's health and elderly care. As the population ages, understanding and catering to these needs can unlock vast business opportunities, especially in specialized care sectors that remain overlooked.

    • Assisted Living ReimaginedMuch of the assisted living sector lacks quality options, but there is potential for innovation focusing on health and wellness for older adults, transforming care into opportunities for vitality. However, societal attitudes toward aging and fitness need to evolve for this to become mainstream.

      There is a significant gap in the market for quality assisted living and healthcare services tailored for older adults and those needing support. Many existing facilities and services do not inspire confidence or satisfaction among families seeking care for their loved ones. There is potential for innovative businesses that focus on providing high-quality health and fitness programs for their residents, promoting not just care but also vitality and improvement in physical health. This approach could transform how we view assisted living, turning it into a place of revival rather than decline. However, creating such facilities requires a change in mindset, societal attitudes towards fitness in older age, and better engagement with the diverse needs of the aging population, especially outside coastal urban areas where fitness culture is more prevalent.

    • Sustainable HealthSmall, sustainable lifestyle changes and technology can enhance health. Instead of extreme programs, moderate habits like daily walking and using tools like CGMs can lead to better choices and improved well-being for everyone.

      Making small, manageable changes to our daily routines can have significant positive impacts on our health and longevity. Instead of extreme programs, like 75 Hard, a more moderate approach, such as walking a few miles or using technology like continuous glucose monitors (CGMs), helps individuals make informed decisions. Simple habits, such as tracking food intake and exercise, can lead to better health outcomes. Sharing experiences and data, similar to fitness apps like Strava, could motivate and support others on their health journeys. Overall, small, sustainable changes and consistent tracking can make a difference and make health improvement accessible for everyone, rather than relying on rigid or extreme measures.

    • Health AwarenessHealth awareness is rising, focusing on blood glucose and posture. Engaging education and products help individuals actively manage their wellness rather than assume fitness based on appearance.

      A growing focus on health and wellness has led people to explore how factors like blood glucose levels and posture can impact overall well-being. Celebrities and experts are using platforms like social media to educate audiences about managing glucose spikes to avoid long-term health issues like diabetes. This education creates engagement and business opportunities, especially through community-based challenges and products tailored to improve health. Additionally, people are realizing that maintaining health isn't simply about being thin; it requires consistent self-monitoring and learning about one's body, similar to managing posture while working. Health gadgets and tools, like guides to improve posture or continuous glucose monitors, can aid in this journey, highlighting the importance of being proactive rather than reactive in health management.

    • Posture and SportsBetter posture comes from muscle strength and mindful practices, while new sports engage more people with diverse challenges and accessibility.

      Improving posture involves strengthening muscles in the abdomen and back. Tools like specialized garments can help, but exercises are crucial. Techniques like Brian Johnson's daily routine and mindfulness about body alignment when sitting or standing can enhance posture. Additionally, new sports like pickleball and tech ball are thriving, as they either make sports more accessible or intensify challenges, appealing to various participants while encouraging fitness.

    • Endurance and LifeEngaging in new sports and discussions about longevity reveals people's drive to push their boundaries while recognizing life's swift passage. With trends like Padel and Everesting, along with beliefs in living longer, individuals are inspired to embrace challenges and cherish meaningful moments.

      Exploring the latest trends in sports and longevity highlights how people are adapting to challenges in exciting ways. From Padel, a dynamic game akin to tennis, to Everesting, where participants simulate climbing Everest on local hills, it's evident that individuals enjoy pushing their limits. Running events like half-marathons can seem daunting, yet they encourage personal growth and goal achievement, regardless of one's physical stature. Meanwhile, conversations about lifespan reveal a growing belief in the possibility of living much longer than before, especially as more people reach the age of 100. This insight sparks reflection on the fleeting nature of life, emphasizing the importance of living fully and recognizing how quickly time passes, especially when witnessing children grow. As individuals become aware of these trends in sports and longer lives, they are inspired to set ambitious goals and appreciate each moment more deeply.

    • Aging PerspectivesAging changes our values and happiness levels. Younger people care less about opinions, while mid-life can be about conformity. In old age, many find deeper happiness as they learn what truly matters, often enhanced by community connections and shared experiences.

      As people age, their perspective on happiness tends to change significantly. In youth, people care less about others’ opinions, and in their 30s and 40s, they often focus on conforming and climbing the social ladder, which can lead to a decrease in happiness. However, as they grow older, many discover that those early concerns are insignificant. Eventually, with families and a better sense of what truly matters, their happiness tends to increase again. Life is a journey of learning what to value, often leading to greater contentment in later years. Additionally, the community aspect of shared experiences, like the events organized by Internet Pipes, highlights the importance of connection throughout this journey, as gatherings and interactions contribute to overall well-being and joy in life.

    Was this summary helpful?

    Recent Episodes from My First Million

    The guy who gets paid $80K/yr to do nothing

    The guy who gets paid $80K/yr to do nothing
    Episode discusses a Japanese man earning $80k by renting companionship, new concept of male situationship, setting long term intentions, non-sexual companionship services, professional grievers, Autopilot's marketing stunt, and making $1M in 8 weeks through Porch Pumpkins side hustle.
    My First Million
    enOctober 02, 2024

    How I Went From Broke to $7 Million With An Airbnb Business

    How I Went From Broke to $7 Million With An Airbnb Business
    Isaac French discusses how he bought an investment property with $2K at age 24 and sold it for $7M in 2 years. Topics also cover a blueprint for flipping properties into Airbnbs, mistakes to avoid, games that are easy to play but hard to win, writing popular Reddit threads, and two life quotes.
    My First Million
    enSeptember 20, 2024

    From Nonprofit Founder To Building A $300M Pilates Business

    From Nonprofit Founder To Building A $300M Pilates Business
    Sam Parr chats with Anne Mahlum about launching an $8M/yr charity from scratch and risking her savings ($175K) on a pilates studio; they discuss solidcore's economics, negotiation strategies, turning down $75k, expanding to 27 locations in 4 years, Endurance events, taboo for recruiters, AI personal trainers, SeatGeek for airlines.
    My First Million
    enSeptember 18, 2024

    The $70M/yr Sports Bar + Sleepy Industries Worth $100M

    The $70M/yr Sports Bar + Sleepy Industries Worth $100M
    Episode 628 discusses business strategies behind sports bar Cosm and emerging trends in out-of-home entertainment with Sam Parr and Shaan Puri, covering topics like Cosm's virality, potential 'Tesla of home appliances', investing in sleepy industries, analysis of Weight Watchers success/failure, data interpretation, decision making, confidence vs certainty, and Shaan's monthly impact grid.
    My First Million
    enSeptember 11, 2024
    Logo

    © 2024 Podcastworld. All rights reserved

    Company

    Pricing

    Stay up to date

    For any inquiries, please email us at hello@podcastworld.io