Experts predict that voters over the age of 50 will determine the outcome of the 2024 presidential election based on their daily financial concerns.

• Americans ages 50 and over are motivated to vote this election season.
• According to the AARP, the decision between Republican candidate Donald Trump and Democratic candidate Kamala Harris for president boils down to "day-to-day pocketbook issues."

The age group of voters aged 50 and above could potentially determine the outcome of the intense presidential race.

According to John Hishta, senior vice president for campaigns at AARP, the 50-plus electorate is expected to be the majority of the electorate, and their vote will ultimately decide the outcome of the election, especially in swing states.

According to AARP, 75% of voters under age 50 are not as motivated to vote as the 90% of ages 50 and up.

The decision of whether to vote for former President Donald Trump or Vice President Kamala Harris among individuals in the 50-plus age group largely depends on their perception of who will benefit their finances.

"Day-to-day pocketbook issues are related to who can handle them in the future, according to Hishta," he said.

He stated that inflation and Social Security are among his top concerns due to the high cost of living.

Household budgets are increasingly being impacted by prescription drug prices, which tend to rise as people age. Additionally, caregiving is a concern for many in this age group, as a significant portion of them serve in these roles.

Inflation is still top of mind

Voters aged 50 and above are not the same, with those aged 50 to 64 leaning Republican and those aged 65 and above being split 50/50, according to Hishta.

Among 50-plus men, Trump has a "fairly substantial lead," while women 50 and up lean toward Harris.

According to a KFF survey conducted earlier this year, older Republican women aged 50 and above prioritize immigration and inflation as their top concerns, while older Democratic women list threats to democracy as their top issue.

What are top advisors telling investors to expect this election?

Kathy Shanks, a 74-year-old resident of Pinellas County, Florida, is concerned about inflation, immigration, and the overseas spending of taxpayer dollars. She voted for Trump for president for the third time in the early voting process.

In 2020, Joe Biden won Pinellas County, while Trump won Florida overall. As a result, this western coast county, which was recently hit by Hurricane Milton, is a key battleground in the upcoming election.

Despite receiving Social Security, Shanks continues to work as a security guard, asserting that she cannot survive on her monthly retirement benefit checks alone.

Although the rate of inflation has decreased since the pandemic, Shanks stated that her cost of living remains high and her car insurance premiums have recently gone up.

Social Security a 'very important' issue

Battleground states are being closely monitored by experts for the strength of support for both Republican and Democratic candidates.

Eight states, including Arizona, Georgia, Michigan, Nebraska, Nevada, North Carolina, Wisconsin, and Pennsylvania, have the power to determine the outcome of the presidential election.

Bill Astle, an 87-year-old resident of Oro Valley, Arizona, cast his early vote for Harris.

Astle, a former faculty member at the Colorado School of Mines, now relies on a pension for income. Although he does not receive Social Security retirement benefits, he is concerned about the future of the program and its impact on others who depend on it for income.

According to a CNBC poll, most Americans consider Social Security to be a crucial factor in their voting decisions this election, with many viewing it as one of the top issues. However, the program is facing imminent trust fund depletion dates, which could lead to benefit cuts if lawmakers do not act promptly.

Astle, who resides approximately 60 miles from the Mexican border, refuted the notion that the region experiences higher crime rates due to immigration, asserting that it is one of the safest places in the country.

'Very much a purple situation'

Although Shanks and Astle have voted, they regret the absence of dialogue with voters who hold differing political views.

Astle stated that his and his wife's social circle has evolved into a group of people who share similar thoughts.

According to local news reports, the situation is a blend of blue Democrats and red Republicans, he stated.

Shanks expressed a desire to hear more from Democratic voters regarding their support for Harris.

Shanks stated that those voting blue would not disclose their reasons.