In fact, interest in technology among older adults continues to expand and in new directions, the association found. Many, for instance, are not just playing catch-up on current technology but awaiting new advances, with 64% of 50-plus adults interested in at least one type of upcoming advancement.
Older adults also continue to spend on technology. Most (70%), in fact, made a tech purchase in the past year. That's on par with the 72% purchase rate for 2020, when the pandemic-fueled acceleration kicked in, continuing to leave 2019's pre-pandemic benchmark of 51% far behind, the AARP said.
Meanwhile, people’s spending on technology remains significantly higher than prepandemic levels, at $821 in 2021 compared to $394 in 2019, according to the report.
But it’s also important for financial advice providers to meet consumers where they are, Kakulla advised. Significant numbers of consumers 50 and older reported they believed that technology “was not made for them.”
Two in five adults 50 or older feel technology is not inclusive, nor designed for people of all ages. “The older a person is, the more inclined they are to feel that technology is not designed with all people in mind,” the AARP said.
“It's important to understand for the 50-plus crowd that technology is a tool, not a replacement for social connection. Additionally, as professionals use tech tools to engage with older adults, they should ensure that those tools are ... incorporating age-inclusive design [and] marketing, and acknowledging the 50-plus [consumers’] trust and privacy concerns,” Kakulla added.