Financial Dilemma of the Elderly People and the Countermeasures at the Age of Digitalization

Abstract

China is accelerating in stepping into the aging era. Finance is an important aspect of the elderly people’s life. At the age of digitalization, the elderly’s financial life is face with a lot of difficulties, which are prominent in daily consumption settlement, savings and depositing activities and financial investments. The physiological and cognitive features of the elderly people lead to their different needs in terms of financial products as well as financial service, which also expose their lack of financial knowledge. To help them out of this dilemma, financial institutions have to know well about elderly people’s needs, put forward more innovative products fit for them, provide more considerate services, and with other social resources impart more financial knowledge to the elderly people.