Flourishing Later in Life May Lessen the Economic Burden of an Aging Population

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Human development is at the core of the Philippine Development Plan 2017–2022. This Policy Note offers insights on promoting flourishing or complete well-being to facilitate active aging and a longer health span. It maintains that if people flourish as they age, they will become healthy and productive longer, allowing them to contribute more to the economy and help reduce health expenditures. This will positively impact the nation, as the economic burden brought about by aging will be mitigated and even avoided. It adds that adopting a positive view of aging, having high levels of agency or sense of control, acquiring a resilient coping style, being financially stable, and being prepared for retirement are essential to flourishing. Thus, policies aimed at developing or boosting these factors would benefit the country.