Financial fragility in older adults: a systematic review of the literature
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The financial fragility of older adults (FFOA) is a public problem many countries face. Statistics show the world has more than 1.1 billion older adults today, and this figure is expected to reach 2 billion by 2047. Based on a systematic review, we seek to answer two questions: “What is the status of the literature on financial fragility in older adults?” and “What are the prospects for a future agenda?” Applying the preferred reporting items for systematic reviews and meta-analyses (PRISMA) protocol to guide our search, 58 articles were explicitly identified addressing FFOA. Based on the low number of articles and their descriptions and analysis, we conclude the study of FFOA is underexplored and the approaches used tend to be broad. These results contradict the pressing need to develop and implement solutions to address a significant problem. We also identified major gaps and paths for future studies.
Abstract
The financial fragility of older adults (FFOA) is a public problem many countries face. Statistics show the world has more than 1.1 billion older adults today, and this figure is expected to reach 2 billion by 2047. Based on a systematic review, we seek to answer two questions: “What is the status of the literature on financial fragility in older adults?” and “What are the prospects for a future agenda?” Applying the preferred reporting items for systematic reviews and meta-analyses (PRISMA) protocol to guide our search, 58 articles were explicitly identified addressing FFOA. Based on the low number of articles and their descriptions and analysis, we conclude the study of FFOA is underexplored and the approaches used tend to be broad. These results contradict the pressing need to develop and implement solutions to address a significant problem. We also identified major gaps and paths for future studies.