On May 17, on behalf of the 100 Women in Finance Washington, D.C. Chapter, Michael Best Strategies hosted a conference titled, “The Impact of the Aging Population on the Economy, Business, and Retirement.”
The event featured a panel with Jeanne de Cervens, vice president, Transamerica; Cindy Hounsell, president, Women’s Institute for a Secure Retirement; and Laura Kane, executive director, head of Investment Themes Americas, UBS. The panel was moderated by Anne Canfield, partner at Michael Best Strategies and chair of the Washington, D.C. Chapter of the 100 Women in Finance.
The panelists and audience explored the impact of the aging population on multiple aspects of the economy, business, and retirement from diverse perspectives. These issues affect financial professionals, institutional investors managing pension funds, and individual investors, among others. As the U.S. population ages, this impact cascades across the economy with increased demand for products and services to serve that segment. In the financial sector, retirees seek higher returns on retirement savings, so they do not outlive their assets. Finally, the labor pool is shrinking modestly, so gains in technology and productivity are paramount.
The evening also highlighted Horizons Greater Washington, an organization that empowers economically disadvantaged students to reach their full potential and this year’s selected philanthropy for the Washington, D.C. Chapter of 100 Women in Finance. Horizons Greater Washington provides summer and Saturday academic, cultural, and recreational enrichment programs for students from kindergarten to high school.
Nationwide, 97% of Horizons Greater Washington graduates complete high school, and 91% enter post-secondary education, compared to 49% of low-income high school graduates as a whole.
The colleges that have enrolled local Horizons Greater Washington graduates include Georgetown University, Montgomery College, University of Wisconsin-Madison, and Virginia Tech. Horizons Greater Washington’s executive director Renée Stikes spoke of how 100 Women in Finance’s generosity was going to help bring in record numbers of students into Horizons Greater Washington’s classrooms over this upcoming summer.
100 Women in Finance is a global network of professionals in the finance and alternative investment industries working together to empower women at every stage of their careers. Through peer engagement, philanthropic, and educational initiatives, 100 Women in Finance’s more than 15,000 members are making connections and creating opportunities that help to advance careers and strengthen their professional field.