People are living longer, but financial systems still largely rely on assumptions of linear careers, stable households, and a single transition to retirement. This is according to a new report, “The Future of Personal Finance”, produced by UniCredit in partnership with the National Innovation Centre for Ageing (NICA).
The report states that longevity is no longer a distant demographic issue but a challenge requiring immediate rethinking. Longer lives mean prolonged exposure to income disruptions, health issues, caregiving responsibilities, and rising costs, while significant financial decisions become more frequent and interconnected.
Longer lives demand new financial strategies
Traditional life stages are becoming less predictable, but many financial decisions still assume a straightforward progression from education to work, homeownership, and retirement. The consequences are already evident: 40% of people in OECD countries report financial instability after unplanned career interruptions, including illness, career breaks, or early retirement.
Other life stages are shifting too. In Croatia, for example, young adults leave their parents’ home at an average age of 31.1.
Financial management becomes a shared responsibility
Financial lives are becoming more interconnected. In the EU, 45% of the population provides unpaid care for relatives and one in ten people juggles multiple caregiving roles. Additionally, 25% of European couples with children live in so-called blended families.
While informal arrangements provide essential support, they often make responsibilities invisible. Caregivers, disproportionately women, frequently face lower incomes, smaller pension contributions, and weaker financial security later in life. This creates both a societal and business need for secure delegated management, joint financial planning, multi-party access permissions, and products that recognize the involvement of multiple individuals without compromising personal privacy and control.
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UniCredit’s approach begins with relationship-based banking and a deeper understanding of the individual and their context behind every financial decision. The report emphasizes that no single institution can address these challenges alone, and effective support requires coordination among banks, insurers, employers, healthcare organizations, government institutions, and communities.
As life expectancy increases, early risk identification becomes more valuable. Yet demand for better preparation is evident: 41% of respondents in an N26 survey set aside funds monthly, and one-third save for emergencies or larger purchases.
Financial security is increasingly built from multiple income sources rather than a single steady job. By 2025, 72% of surveyed US workers will rely on at least one additional income stream, and 59% of global employees would prefer greater control over their work hours over higher pay. As a result, careers with multiple roles, the gig economy, various social benefits, reward programs, and phased retirement are blurring traditional boundaries between earning, saving, and spending accumulated wealth.
For individuals, irregular incomes shouldn’t automatically mean harder access to credit, protection, or long-term wealth building. For businesses, this creates a need for payment systems that can consolidate multiple income sources, reduce volatility, and allocate funds across expenses, savings, insurance, and taxes. Employers can also gain a competitive edge by offering portable forms of protection, reskilling support, phased retirement, and benefits that remain relevant across career stages.
“Healthy longevity isn’t just about lifespan but also quality of life and opportunities,” said Nick Palmer, Director of NICA. “This study shows why personal finance must function as vital infrastructure, helping people maintain choice as they learn, work, care, recover, and rediscover themselves throughout a longer life. Successful organizations will make complexity easier to manage without compromising individual autonomy.”
“Longer life isn’t just an individual challenge—it changes how financial decisions are made within families and across generations,” added Richard Burton, Head of Client Solutions at UniCredit. “Our approach is to anticipate client needs rather than react to them, supporting them at every stage of their financial lives to build greater security, confidence, and opportunities.”
