CAFE WEALTH survey — rating

This is a series of graphs which show the results of our third CAFE group meeting held in the Welcome Centre, adjacent to Coventry University Technology Park, on Friday 21stJune 2013.   The focus of this survey was WEALTH and HORIZONS as perceived by the  “expert” group of older people.   It is representative only of their views of themselves and doesn’t purport to be typical of other groups of older people in Coventry.

The commentary on the graphs is entirely my own personal reflections.    ( Other posts in this series can be found either by clicking on “CAFE Project” in the Tag Cloud or by clicking on  “GrumbleSmiles Trust” in the Topics list)

Wealth rating

The first thing to note when looking at this graph is that the definition of wealth is subjective and not measured simply in financial assets.  In the survey group nobody rated themselves at the lower end of the scale of wealth.  Around 60% assessed themselves as adequately well-off with the remaining 40% even more positive.  That’s a contrast with the commonly held view of impoverished old age which may be a reflection of the group we surveyed.  At the same time the elderly as a whole in the UK hold most of the disposable income in the population.

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3 Responses to CAFE WEALTH survey — rating

  1. Intriguing!! If one should look at, the question: ‘What does it cost me, and my spouse, partner to live when I am over 60 or 70 and retired (Including disposal income and assets)? What kend of life style can I expect? and how do I allocate and judge the investment in asset terms (Money in my mattress) for infirmity, and care in old age after 70+?
    In fact, can one budget or anticipate such thoughts, and make provision for them? Or is the die cast in ones younger life with pension and financial savings in assets and insurances, one made when one was younger. Inheritance these days is very limited, and at 70+ aging parents (Still Living) on care, can require a large amount of time, and monies? ( The time frame on care can be 10 years+? and life expectancy is still on the increase!!!!) The family home is no longer the younger generations proviso.
    So what can one personally define as wealth, in a crude economic or financial view point???

  2. John Graham says:

    You raise a lot of interesting points David. I agree that you set the pattern for your retirement income long before you retire and the fact is most people have not been saving enough. This is particularly true if you have unexpected care cost to cover.
    Wealth is probably best defined as “peace of mind”, rather than in pure financial terms.

  3. I have been following the later cafe blogs and surveys, and again I am intrigued. Questions about life and what one does, appear to create ‘no thoughts or any form of reply?’ Mention money and the lack of it? or where one can obtain a little extra, and I feel the screen lights up. The Cafe Culture senior folk, do not have a, or appear to have confidence in internet banking? Further when it comes to welfare or benifits and costs then I rather get a feeling in my water that it is a PERSON rather than a screen they wish to relate too/ so that they may understand all the twists and turns and have a modicom of understanding of any agreements reached.
    As I am now 70+, my mental facalties and hearing sight etc are not what they were: I take comfort from a little personal intervention.
    Do I trust the person talking too me or the integrity of his demeaner and message they may wish to convey? is another matter, and I must use my experience of life!
    It is a tragidy that while being older on a limited income, but with small tangable assets, We may all become targets of the ‘GADFLY’ and there associates. Life is a bitch! Is it Not?
    On the series of cafe ‘BLOGs’ and as a general chat up line and person to person talk line, again the overseers of this system I hope would build in safe guards so that more vunerable or confused! Do not reveal too much personal data and information, that may used against the personal subscriber, by unscruppulous internet users.
    70+ and cynical.

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