Aspen Institute: Rainy Days Don’t Retire: Older Adults, Financial Shocks, and the Promise of Emergency Savings Tools

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Financial security is fundamental to older adults’ choices in where and how they age. Yet many older adults are not financially secure – lacking retirement savings, emergency savings, and the financial management tools they need. In fact, 47 percent of older adults (ages 55+) don’t have the liquid savings needed to weather a financial shock. As more and more older adults leave the traditional workforce and their streams of income change, they need a wider variety of emergency savings tools. The SCAN Foundation partnered with the Aspen Financial Security Program to explore how we can tailor products and services to meet those needs and inspire market innovation. VIEW REPORT