Eighty something: Banking for the older old

Abstract

An eighty year old today is expected on average to live well beyond the year 2020. However the needs of the older old are seldom considered in relation to current and future banking services. This paper documents a qualitative study investigating the meaning of money to a group of eighty somethings (people aged over 80). Participants were asked to tell their financial life stories. This focus on biography allowed them to relate rich narratives that indicated enduring values and concerns. Interviews with twelve participants as well as carers and financial experts were transcribed and analysed using a grounded theory technique. The key themes that emerged from these data were: materiality, control, locality and transferability. We discuss the implications of this study in reference to the next stage of design and policy focused research that aims to benefit the broader community.