By Megan Morrow

What will the next year bring? What will phase in and what fill fade out in 2020?

According to prognosticators across industries, the following twenty trends will top the charts in the upcoming year:

1. The workforce will become more global: More people of all ages will move and migrate in search of new experiences and cultures.
2. Mobile apps will continue to redefine industries: Apps will continue to provide convenience, customization and customer service across industries.
3. “Enough-ism:” As opposed to consumerism, the concept of enough-ism insists that we already have enough and may need fewer things, less time at work and reduced expectations in order to enjoy a more satisfied and fulfilled life.
4. More robots and artificial intelligence: Companies will seek to save more money by using more predictive technology to meet their customers’ evolving needs.
5. Patience is no longer a virtue. As Amazon reduces its shipping time to near-instantaneous, customers are demanding fast service and faster delivery. More companies will find a way to meet this interest for consumers who want something “right now!”
6. Businesses prioritize worker happiness. Companies are increasingly recognizing that happy employees are productive, long-term employees and are therefore, investing in programs and incentives to this end.
7. Cloud health: As people seek to prevent chronic disease, personal mobile tools (housed within the Cloud), can deliver customized fitness and diet solutions designed for prevention and healing.
8. Crowdfunding will get even more crowded. Crowdfunding platforms continue to explode as a means of funding new enterprises, supporting individuals in need and creating new partnerships. Expect even more crowding in the year to come.
9. Cybersecurity will be a threat and a focus: Cyber-threats across industries continue to plague companies and their customers, who need their information to be safe and secure. Companies must continually update software and security planning efforts to prevent ongoing threats to cybersecurity.
10. Menus meet health needs. Diners are in search of food that offers natural enhancement and health. More healthy substitutes and plant-based foods will make their mark, and restaurants and grocery stores will continue to serve customers interested in Paleo, keto, gluten-free and other specific diet trends.
11. Recommendations are required. User reviews and recommendations from friends will be king in the year to come. Many consumers will not buy anything without first finding the right reviews.
12. 5G is a high five. Changing how we interact online, 5G offers incredibly fast download speed and will expand to drones, smart vehicles and other applications.
13. Mindfulness matters. To combat the stress of a busy life, meditation, yoga and other forms of mindfulness will continue to inspire people to slow down, breathe deeply and let go.
14. Baby Boomers will retire while Millennials move into management. These generational trends will change the face and shape of the workforce for the future.
15. Home design will be neutral and blue. A deep shade of blue and neutrals, as well as geometric patterns and the natural world, will inspire home design in 2020.
16. The gig economy will grow. Workers love flexibility and the ability to freelance, further enhancing this already growing trend.
17. Consumers become partners in their own health care. Rather than simply watching and absorbing, patients will become more active and aware in their overall health care.
18. Voice is everywhere. Alexa, Google Assistant and their cousins become even smarter and more connected in homes, offices and on the go.
19. Politics… You probably do not need an expert to tell you that the political scene in 2020 is expected to be contentious, engaging and memorable.
20. Retirement planning is more important than ever. As legislation and individual needs evolve, it is critical to pay attention to your retirement plans. Naturally, the start of a new year is a great chance to connect with your advisor to discuss your plans going forward.

What are you looking forward to in 2020? Doubtless, you will enjoy trends and experiences for you own top-twenty list.

Contact an Advisor

Should you have any questions about this subject matter, contact your financial advisor to help navigate any challenges you may have. 

We want to hear from you

Do you have a topic suggestion for an article in a future issue of Sims Insights newsletter? We would love to hear from you. Share your ideas here.

By Megan Morrow

Yes, you will have “senior moments.” And true, your short-term memory may start to fade, and aches and pains may last longer. Yet, many older Americans are discovering that there is a true upside to aging, from relationships to wisdom to free programs and tax benefits.

If you tend to brush your birthday aside or worry about the number of candles on your cake, it might be time to focus on the benefits of getting older, which can include:

• Happiness! Older people tend to be happier. Studies show that most people are unhappiest in their 40s and 50s as they face stressors from work and family and that happiness increases as middle age passes. Happier people are also healthier, more productive and more aware of what they have.
• Seniors are better at navigating emotions. They tend to learn how to manage social conflicts, with the abilities to imagine alterative points of view and work out compromises. What bothers someone in their 20s hardly makes a blip on the radar of someone a few decades older, according to studies.
• Financial perks such as guaranteed minimum income, Social Security, Medicare and senior discounts. Programs such as Social Security, Medicare and Medicaid can support seniors with health insurance and a safety net. Likewise, special senior discounts can provide incentives for getting out, exploring new things and staying engaged.
• Seniors are more likely to be involved. From politics to volunteering, seniors often have more time to participate in activities and organizations that matter to them. One in four seniors volunteers actively, according to the Bureau of Labor Statistics, and those over the age of 65 report the highest voting rate of any age group.

While stereotypes about aging persist, more people of all ages are recognizing the beauty of getting older and wiser. We also know that attitude goes a long way: Participants in a study on aging who had a positive attitude about the process also showed enhanced cognition, one more reason to focus on the upsides of aging.

No matter what your age, it is important to maintain relationships and connections with people of diverse ages and backgrounds and to cultivate a positive mindset.

We want to hear from you

Do you have a topic suggestion for an article in a future issue of Sims Insights newsletter? We would love to hear from you. Share your ideas here.