Technology is now an essential feature and budget expense in older adults’ lives, and as such it has become an important element of retirement planning, says Dr. Joseph Coughlin, head of the AgeLab at Massachusetts Institute of Technology, in a recent Forbes article.

Pandemic-driven “emergency adaptations—virtual doctor’s appointments, online grocery shopping, video family gatherings—have evolved into expectations across the lifespan. Far from being temporary intrusions or stopgap fixes, these technological hacks to cope with life during Covid-19 now represent vital components of modern aging and must be considered essential costs,” he writes.

Pandemic Sped Technology Adoption

In research conducted by the Pew Research Center last fall, 48 percent of Americans said the pandemic changed the way they now use technology, including 36 percent of those 65 and older.

Technology To-Do List for Retirement Planning

Coughlin outlines areas of technology spending that he considers a “fundamental part of how retirees manage their daily lives—connecting with loved ones, accessing healthcare, facilitating home deliveries, transportation, handling finances, and engaging with their communities.” The following technologies can help to facilitate daily tasks:

• Smart appliances,
• Smart home technologies,
• Hardware replacement,
• Connectivity,
• Digital security,
• Digital subscriptions, and
• Digital health platforms.

In addition to planning for these costs, older adults should budget in technology upgrades every three to five years, as well as funds to cover digital needs for health and mobility. Budgeting for digital literacy and learning and for sharing economy services that enable older adults to stay independent.

“As we reimagine retirement planning for the post-pandemic era,” Coughlin maintains, “technology deserves its dedicated line item—not as a luxury but as an essential component of a secure, connected, and healthy retirement.”