Life Shift

Aging Single

Meet GeGe

Navigating life solo

Among the life shifts over the age of 45, people in the Aging Single group are having the hardest time with life. As a financial professional, you have a huge opportunity to empathize with your Aging Single clients and to help them overcome the challenges they face. “GeGe” is a research-based persona we created to help you better understand the needs and aspirations of this special demographic and to build better experiences for your Aging Single clientele.¹

¹The "GeGe" persona is based on findings from the 2019 study, “Hacking Life Shifts,” a research project conducted by RTi Research, The Business of Aging, aha, AARP, and COLLABORATA in collaboration with Global Atlantic and other leading organizations

GeGe’s profile

Divorce rates are at an all-time low overall. But for people over 50, the rate has more than doubled since 1990 and GeGe is no exception: she was married for 31 years before she initiated her “gray divorce” two years ago.

GeGe's age

Employment: full-time

Civil status: Divorced

Her life shift details

Because the world seems engineered for couples, GeGe feels unrepresented by products and the marketing surrounding products and services that could give her the support she needs. She:

Once had her utilities cut off since they were in her ex-husband’s name
Saw her auto insurance costs rise due to her single status
Is aware of but doesn’t use outside “Aging Single” help
Recently purchased more smart devices, clothing and beauty products
Isn’t looking for another relationship

GeGe’s state

Despite her active family life with her two daughters and recently joining a book club and a hiking group, GeGe feels her best days are behind her. She:

Is concerned about home maintenance
Lost 50% of household income when she got divorced
Cut back on spending (less eating out) and pushed back her retirement date too
Is concerned about her emotional and physical health due to her life shift (she now has arthritis)
Feels estranged from friends and ex-family members

Here’s your playbook to help your Aging Single clients thrive.

Of the five life shifts, Aging Singles are having the most difficulty navigating their change. But there are many simple things you can do to convey your empathy and to help them overcome their challenges. Here are a few ideas.

Tips

Tip #1

Aging Singles aren’t necessarily looking for another romantic relationship – many just want some camaraderie. Introduce them to volunteer opportunities to help them meet new friends.

Tip #2

Create an “Angie’s List” of resources for your Aging Single clients. Connecting them with reputable plumbers, electricians, pest control services, housekeeping services, lawn care, etc. is a simple act of empathy they likely won’t forget.

Tip #3

Develop checklists for:

Clients going through a divorce
The passing of a loved one

Resources

Resource #1

suddenmoney.com*: The Sudden Money® Institute offers a Certified Financial Transitionist® (CeFT®) designation to help financial professionals help their clients “identify and work through the struggles that cause problems during major life transitions, as well as to create ways to enhance transitions that are going well.”**

Resource #2

guide.peacefully.com*: In the case of death, guide.peacefully.com helps families tie up loose ends in the midst of their loss.

Resource #3

Move forward on your own by Kathleen M. Rehl*: “A husband's death is possibly the most devastating event a woman will experience. She might wonder if she will be able to make it on her own. She may feel overwhelmed and not know what to do next without her partner.” This guidebook may help your widowed clients “be more confident, knowledgeable and secure about their money matters.”

*For illustration purposes only. These third party websites and resources and resources are not affiliates of Global Atlantic and their mention is for informational purposes only.

**Consult your firm’s policies about the use of designations.

Events

Event idea #1

Host outdoor events: A simple group bike ride, hike or run may be a perfect way to help your aging single clients connect with people within their same life shift.

Event idea #2

DIY events at a Lowes or Home Depot*: Big chain stores (and possibly smaller businesses in your area) conduct workshops on installing tile, basic wiring and more – skills that may help your aging single clients feel more empowered the next time something breaks or needs an upgrade.

Event idea #3

Host events on nutrition, exercise, meditation: Given the low state of their emotional, physical and social health, events to help your aging single clients feel better and cope with their life shift challenges may be great medicine.

*For illustration purposes only. These third party resources are not affiliates of Global Atlantic and their mention is for informational purposes only

Want more? Request a review

Looking for more ways to create better experiences for your clients in any of the five major life shifts? Request a one-on-one practice review with a Global Atlantic Consulting Group team member today.

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