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Fintech Resources for Older Adults

Financial technology services and tools, or fintech, aren’t designed just for younger generations anymore. Many companies are now creating fintech services that specifically target older adults, providing them with the tools they need to remain independent, financially stable, and safe.

There are so many fintech tools that can now help older adults with everything from keeping track of bills to estate planning management, and it’s important to become familiar with the services that can specifically apply to your needs. Below, we detail some of our favorite tools that you or a loved one can easily start using.

4 Fintech Tools that are Great for Older Adults

1. Cake

Cake is a company that provides older adults with an easy-to-use online platform to prepare for and keep track of estate planning, life insurance, and power of attorney. You can create a will directly through their website, and feel confident that all your important information (dependents, gift distribution, executors, etc.) will stay in one place. 

While there is a cost to create a will online, Cake’s price is significantly lower than trying to handle estate planning in other ways.

2. True Link

True Link is a company that provides financial services and easy-to-manage prepaid debit cards to older adults, people with disabilities, and those recovering from addictions. By using their prepaid card and online system, you or a loved one have access to features like:

  • Monitored spending
  • Real-time alerts
  • Fraud prevention through Scamwatch
  • Adding family members or caregivers to receive alerts as needed
  • Easily adding funds from an existing online account

The best part about True Link is that the card and online system encourages autonomy, and still provides enough protection without being overbearing. You can use True Link to pay for everything and still feel confident knowing that you or a loved one will have an added layer of financial security everywhere you go.

3. PocketGuard

PocketGuard is an app, available on both iPhones and Androids, that completely simplifies financial management. It works by connecting all your main financial accounts, and then lets you know how much money you have at all times, where you’re spending the most, and more. 

What sets PocketGuard apart from other apps is that it helps you find offers that can help you pay less with monthly bills. This is perfect because this means that the app gives you all the tools you need to be successful financially without feeling like you have to limit yourself from the things you love!

4. SilverBills

SilverBills is an online, concierge bill management service that specifically focuses on older adults. With it, people get access to their own account manager that helps them keep track of finances and pay bills on their behalf. Users don’t have to worry about late fees, trying to navigate difficult pay portals, or having to keep track of paper bills any longer!

While this may seem more like a luxury service, it’s actually extremely affordable! SilverBills’ website features a transparent price breakdown, and you’d only pay a monthly flat fee — there are no hidden fees or surprise costs.

The Future of Fintech

Because of the success they’ve had already, the number of fintech services aimed at older adults will continue to grow. We can expect to have services become even more user-friendly and accommodating to all needs. This means that older adults that use these tools will have better chances to stay independent longer and have more control over financial aspects within their lives.

Additional Resources

Fintech with AARP

Why Fintechs are Targeting Baby Boomers and Retirees

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