Money well spent? Overcoming barriers to spending in later life

Money well spent? Overcoming barriers to spending in later life.

Older consumers are an increasingly important part of our economy. It is projected that by 2040, 63p out of every pound in the UK will be spent by someone aged 50 and over, with total spending by this group estimated to be worth £550 billion. But older consumers are also spending less and saving more, regardless of income. Why are older adults saving more? Will our spending patterns in later life reflect our desired pattern of spending or will we face barriers that stop us from spending how we want? 

Design Age Institute’s joint report between the International Longevity Centre (ILC) and the Royal College of Art (RCA) explores these questions, drawing on ILC’s analysis of a nationally representative survey of 1,008 adults aged 60 and over in the UK, as well as interviews and user research carried out by the RCA. Based on these findings, we have identified policy recommendations and design opportunities to help us overcome barriers to spending our money and time how we want and need to as we age. 

Agenda and panelists 

The webinar will include speakers from Design Age Institute, the International Longevity Centre and the Helen Hamlyn Centre for Design at the Royal College of Art sharing highlights of the research presented in the report, alongside a discussion of how the policy recommendations and design opportunities outlined by the report can positively impact our health and happiness as we age.

The panel, chaired by Carly Dickson, Knowledge Exchange fellow at Design Age Institute, will include the following contributors. 

• David Sinclair, Chief Executive, the International Longevity Centre
• Dr Vivien Burrows, Senior Research Fellow, the International Longevity Centre
• Colum Lowe, Director, Deisgn Age Institute 
• Dr Chris McGinley, Senior Research Fellow, the Helen Hamlyn Centre for Design

The event will close at 2pm.