116. Aging and Finance: How Money Habits Change as We Grow Older

Women & Money Cafe

The episode discusses the changes in money habits as people age. They discuss how attitudes towards money can remain constant through life but can become more extreme or display in different ways with age. They also notice a sort of cycle where people in their 50s are highly focused on planning for retirement. Upon reaching the 60s, the strict and mindful planning often takes a backseat as they start indulging more but this changes again as they reach the 70s and the realities of aging set in. By 80s, people tend to focus more on sharing and giving away their wealth. They emphasise the importance of understanding the context of aging loved ones when discussing money and the need for patience and intentionality when making financial decisions.
01:18 Observations on Money Habits in Later Life
03:37 The Impact of Age on Decision Making
05:56 The Influence of Affluence on Money Habits
06:39 Challenging the Notion of Changing Money Habits
09:04 The Cycle of Money Habits Through Different Life Stages
20:28 The Role of Money in Facilitating Life
Regrets of the Dying
YOUR HOST

Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.

Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
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CO-HOSTS
Emily Pool is a Financial Planner and Will Writer. She is passionate about empowering people to invest their wealth (pensions and savings) sustainably and in line with their personal values.

Michelle Lambell started her career in financial services as a Stockbroker in 1999 undertaking both advisory and discretionary investment management. Today she is a Chartered Financial Planner, specialising in retirement planning advice, pensions and investments and a Certified Financial Coach.
Sara Walker is a financial planner and financial coach with 33 years’ experience in financial services. She wants all women to feel financially confident and uses her professional and life experiences to support and educate women over 40 so they in turn feel able to support and be role models for the younger women in their lives.
Jennifer O'Neil is a mortgage and protection specialist and director of Athena Mortgages. Having been in the industry since 2014 Jennifer decided to set up a company in 2020 that suited her core values as a broker – integrity, service, honesty and continuous improvement.
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