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Boomers/Seniors Should Rely Even More On Technology

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It was recently drawn to my attention that there is an Infographic on “The Elderly and The World Wide Web” which explains the U.S. seniors’ relationship with digital technology and how they increasingly rely on the internet to seek healthcare solutions. The infographic at https://medalerthelp.org/elderly-the-world-wide-web/ was developed by medalerthelp.org, a U.S. website that helps seniors differentiate and choose among the many medical alert systems that are available to them in the marketplace. The infographic is very creative in terms of colourful and user-friendly graphics illustrating evidence-based research and content.

Key findings, drawn from different reliable sources including the AARP, Pew Research, and other surveys, include the following:

  • Studies show that educated seniors with higher incomes tend to use the internet at higher rates
  • 82 percent of boomers/seniors use search engines to gather information on topics of interest
  • Baby boomers spend about 27 hours per week online
  • 70 percent of internet users aged 65+ use the internet on a typical day
  • 66 percent of information accessed by the mature population online is access to news and weather; 57 percent of usage is related to shopping; 44 percent is accessing food information and 43 percent is to play games and related activities
  • 71 percent of older internet users go online everyday or almost everyday
  • 11 percent go online three to five times a week
  • 25 percent of grandparents use email to communicate with their families; 75 percent of seniors use the internet to communicate with friends and family; and 55 percent of seniors follow a group or organization on social networks
  • 40 percent of seniors are viewing online videos to stay up-to-date with the latest news
  • 53 percent of seniors use the internet to learn about healthcare or medical issues
  • 54 percent of seniors watch online video for entertainment
  • 26 percent of the mature population say that mental sharpness is an extremely important reason for playing games and 50 percent say it is very important

The top three internet usage by category among American boomers and seniors are: getting health or medical information (66 percent); visit a local, state or federal website (58 percent) and doing banking or financial activities (55 percent).

Other interesting facts include 63 percent of 50 to 59-year-old Americans now access TV content via the internet and baby boomers are 19 percent more likely to share content on Facebook compared to any other generation.

In Canada, a recent study from Media Technology Monitor (MTM) also found that boomers and seniors are enthusiastically consuming content via digital media. Smartphones have found a comfortable home with the boomer demographic – 78 percent of younger boomers (aged 51 to 60) and 66 percent of older boomers (aged 61 to 71) report ownership. Younger boomers are more likely to own tablets and a healthy number of the younger demographic also have gaming consoles.

Canadian boomers’ desktop computer usage is similar to our American counterparts (56 percent vs 58 percent among American boomers). They also don’t appear as interested in wearable technology. The vast majority of older Canadian boomers still have a TV subscription (86 percent), compared to 91 percent of seniors over 72 years old and 65 percent of millennials. While 21 percent of millennials say they have no TV subscriptions but watch that content online, only five percent of young boomers say they have done so. Meanwhile, 21 percent of younger boomers are very or somewhat likely to cancel that subscription.

Around 55 percent of older boomers watch TV exclusively on a traditional TV set, and only one in 20 boomers reported watching TV exclusively online. Seniors over 72 years of age demonstrate the stronger affinity for traditional TV, radio and news platforms. More than nine out of 10 pay for conventional TV, nearly half have newspaper subscriptions and 83 percent report heavy viewing of news specialty channels.

Device use is also predictably lower among older Canadians – 18 percent say they access the internet via a TV set and 24 percent own a smart TV. Another 68 percent own a computer, with laptops surprisingly edging out desktops (47 percent vs 44 percent). Smartphone ownership tops out at 36 percent of seniors aged 72 and above, with tablets appearing in roughly as many senior households (33 percent). Another 25 percent of seniors report owning a “basic” or feature phone. Of the 91 percent of seniors who have a TV subscription, 11 percent were identified as being very or somewhat likely to cut the cord.

According to a TD Bank Group survey titled “Too Shy To DYI,” Canada’s baby boomers are comfortable with the Internet for most things, but a glaring exception is investing online through discount brokerages.

Almost four in five baby boomers (79 percent) use the Internet for banking, but only a meagre 16 percent are online do-it-yourself (DYI) investors, say the poll of 2,000 Canadian adults conducted in July 2017. TD Direct Investing said this behaviour can be attributed to the fact that many say they are unfamiliar or uncomfortable with online investing tools. The survey also found that boomers would invest online if they had a human being to hold their hands in the beginning and ask them investing questions.

According to a Financial Post article, the issue isn’t so much technological savvy as confidence and knowledge about investing. It’s obvious that baby boomers have already integrated technology into their lives in a variety of forms. They can set up a broker account or robo account and transfer money in and out. But many are confused, intimidated or fearful about making the right choices from the thousands of investments available to them.

TD found that 50 percent of boomers spend at least 15 hours a week on the internet, only a tad  less than 58 percent for millennials. Ninety-four percent of Canadian boomers use the Web because it’s convenient and 84 percent find it easy. Seventy-seven percent use the Internet to read news online, 66 percent to shop via Amazon or its rivals, and 64 percent stay connected with friends and family through social media such as Facebook or Twitter.

The main reason for low boomer use of online investing is lack of investment knowledge. TD says 79 percent of those surveyed don’t manage their money online because they simply don’t know enough about investing, while 22 percent say they don’t have enough time to invest on their own.

Unfortunately, when compared to our American counterparts, Canadian boomers are less likely to adopt digital health technology, according to a 2017 study commissioned by Telus Health. According to the survey, Canadians in the boomer (aged 52+) and senior categories (aged 71+) reported that they are most likely to access a healthcare provider (78 percent). However, while 58 percent in this demographic agree that digital health tools would help them connect with their healthcare provider, this group ranks the lowest to use them (20 percent). Further, Canadians aged 52 years and over are 10 percent less likely than younger generations to agree that digital technology empowers them to take control of their health.

While these findings highlight the need to educate and engage all Canadians on the role of digital health technologies, a supplementary survey of Canadian healthcare providers uncovered tremendous support for the role that digital technology plays in staying connected with patients and other healthcare providers.  Whether it’s to book appointments or send an alert when medications are low, three in four healthcare providers report using digital technologies to communicate with patients. Of those healthcare providers surveyed, 80 percent reported using digital technology to communicate with other healthcare professionals; and six in 10 believe that this integrated health team interaction improves patients’ overall wellness.

It looks like that although Canadian boomers and seniors are increasingly comfortable and versatile with technology, they might need more education on the important role digital solutions can play in their financial investments as well as their overall health and wellness.

 


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