The last financial year FY2025 saw more and more organisations implement financial wellbeing programs. The intent was to reach the wider audiences, especially the young workforce. While these initiatives are much needed and commendable, there is a segment of the workforce which needs special attention on financial wellbeing and need specific programs. This is the workforce aged 35-45 years and above.. 

Why special focus on workforce aged 35-45 and above?

Financial stress is the highest in this segment due to a heavy mix of responsibilities and change in life stage/situation. 35-45 years is the time when one may decide to start a family, take a sabbatical, go the entrepreneurial way, and at the same time may have parents retiring and dependent. Divorce, health issues, shifting social circles are other life situation changes which are commonly seen. 

And then there are the expenses and purchases. Buying that dream house and furbishing it, bucket list trips can be draining. Not to mention regular expenses on running a house, kids related expenses and supporting dependents. For people above 45, the peak earning years also come with peak spending and pressure to make things happen at workplace and home. 

Job insecurity, burnout is common and with it being harder to get jobs, job instability can cause a great amount of stress. Midlife crisis, and the realisation of not having saved enough to be able to fulfill personal financial goals,  further adds to this stress.

35+ years individuals are committing the same investment mistakes as every other age group – chasing trends, not thinking long term, investing in ad hoc manner. This leads to having a scattered portfolio, not aligned with financial goals.

It is common to see investors either being very conservative or aggressive. The problem with being conservative is that one will not beat inflation and hence not grow wealth. The problem with being aggressive and chasing returns is that one may choose unregulated investments like cryptocurrency or have too many overlapping investments or may take rash decisions, when volatility and fear sets in. All leading to a lot of mental load and stress. 

At every life stage, the financial needs of individuals differ and hence the need for customised programs for people above 35 years. 

How can these programs be designed?

While  financial wellbeing programs for these segments should be customised, they also need to be scalable phygitally, to be impactful for the employer and employees. 

Working on creating a detailed financial plan (which includes retirement planning) needs to be the starting point. This can be implemented in three steps depending upon time and cost considerations.

1. A DIY Digital financial planning and tracking tool can be provided

Given that associates may not have worked on a detailed financial plan, classroom-based group workshops can provide an opportunity to create a financial plan and also get queries answered.

2. Coaching with a professional can be offered

To enable employees to do their financial planning at a time convenient to them and in a more detailed manner, a one-on-one session with a certified financial planner could be offered.  The financial planning activity can be followed by more deep dive sessions on taxation, RSU/ESOP, investment decisions, catch up strategies, loans management- all tailored for 35+ age group. For associates above 50 years, post-retirement planning sessions are recommended. 

3. DIY tools for ongoing financial management can be offered

Financial planning is not one-off, so ongoing tools can be provided like a financial wellbeing platform and one-on-one counselling. Counselling could be made available on financial planning, tax advisory, debt management or legal matters. It is also important to work with certified financial planners/ registered investment advisors for the same as they bring in expertise and experience of handling wealth in different markets and also work on fees over commissions. 

At 35+, life gets financially complex. With family, debt, retirement, and unexpected changes all in play, generic advice doesn’t cut it. This age group needs financial wellbeing programs built for their reality, not someone else’s.