ArticleAustralasian journal on ageing2022
COVID-19: Financial well-being of older Australians in times of crisis.
Article in Australasian journal on ageing, 2022. The graph could read no effect estimate from its abstract, so it casts no vote on the map. Cited by 6 papers.
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Who cites it
6 citing papers in PubMed, 13 citations in OpenAlex.
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- Pension reforms, economic security, and mental health: The need for a human rights-based approach.Global mental health (Cambridge, England) · 2025Review
- Reelin' In The Years: Age and Selective Restriction of Liberty in the COVID-19 Pandemic.Journal of bioethical inquiry · 2023Article
- Household catastrophic health expenditure related to pain in Korea.The Korean journal of pain · 2023Article
- Article
- COVID-19: Financial well-being of older Australians in times of crisis.Australasian journal on ageing · 2022Article
Corrections and comments
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Authors and funding
4 authors at 1 institution in 2 countries.
Funding
No grant is acknowledged in the PubMed record.
Abstract
objectiveThe aim of the present study was to explore the impact of the COVID-19 pandemic on the financial well-being of older Australian retirees.
methodsThirty Australian retirees (16 females and 14 males), older than 65 years of age, were asked 'Have your finances been affected by the events surrounding COVID-19?'. Data were analysed using Braun and Clarke's six-step approach, and Bronfenbrenner's socio-ecological model was utilised to analyse thematic responses at individual, household, community and societal levels.
resultsTwo COVID-19-related themes emerged from interviews: COVID-19 and increased financial stress and COVID-19 and frustration with digital banking.
conclusionsThis study revealed that the financial well-being of older Australians and especially self-funded retirees has been negatively impacted by the COVID-19 pandemic. Participants felt financially worse off primarily due to the volatility of the financial markets, the need to support adult children and the increased cost of living. Also, participants expressed their hesitation and frustration with digital banking services, and their desire for greater personal contact with financial institutions, particularly during times of uncertainty.
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