Taking Charge of Financial Health
Many older adults find themselves unable to save for retirement, or to even contemplate retirement, as they wrestle with debt and earning enough money to meet even the most basic of needs.
Other challenges include layoffs, age discrimination in employment, dwindling savings, caregiving responsibilities, ever-rising health care costs and personal health setbacks.
To cover an unanticipated expense of $400 or more, 40 percent of adults are forced to sell something or borrow money.
This struggle is compounded by a lack of access to quality financial products and services, which leaves the most vulnerable particularly ill-equipped to weather emergencies and other unexpected expenses.
AARP Foundation has partnered with Chase to bring the power of financial technology to older adults across the country and identify solutions to set underserved communities on the path to greater financial resilience.
To meet this need, we host hands-on workshops called Plug into Financial Technology to show older adults how to use mobile banking apps and other digital tools to take charge of their money.
We also developed a series of solutions-focused events called Building Financial Resilience that gather influencers in the financial space. These forums address the need to increase the financial health and resiliency of underserved communities, creating an environment in which thought leaders can identify solutions that are already working and that have the potential to be replicated and scaled.