Thise 50+ view the world differently than the younger population - an apparent truth. But, the 50+ demographic itself is far from homogenous. One of the key differences that separate the obligations and dreams of these people is their financial standing, their degree of financial freedom. For those elderly who have limited finances, there is always a trade-off between haves and have-nots -- and perhaps this is one of those few areas where a relatively larger percentage of those over 50 tend to align: the stark realization that they must provide for themselves.
Indeed, many aging people are concerned that they will become a financial burden on their loved ones - so they become extremely fiscally conservative. By rationalizing that it's more important to pay for rent than for medical care, they increase the risk of more serious ailments. By having to pay for a recurring medical treatment, medicine, or healthcare product they forego their desire to give gifts to grandkids and travel to play with them. Forget about aspirational dreams and bucket lists - those are now forever out of reach.
I argue that these dreams are not out of reach, a reasonable level of financial freedom is possible, and the elderly can afford obligatory expenses. In many cases the only thing that stands in the way of this becoming a reality is that the financial burden to make these things possible tends to fall entirely on very few people - in many cases one child or friend, who may also be over 50.
In these cases, the combination of small financial contributions can become a larger, impactful contribution. When one child can dedicate $200 per month, a friend $20, a cousin $75, and a family friend $50 - that's $345 in additional income every month. By building an app that makes this easy and sets up recurring contributions, people are more likely to contribute and feel like they're making a difference. Over $4,000 per year. When you see how much Social Security pays out, this adds up to something meaningful.
This money can also be routed to interest-bearing savings accounts. And, it would behoove the US Government to make these contributions tax deductible - if at least for the fact that these micro-funding programs can alleviate the stress on our social welfare system...that needs all the help it can get.