Under Bretton Woods, we had fixed exchange rates (with occasional adjustments) and independent monetary policy, but capital mobility was highly restricted; when I first went abroad over 30 years ago, Indians couldn’t take out more than $ no matter the purpose of the trip.
Declining mobility means we can no longer take it for granted that we can easily visit bank branches. Deteriorating eyesight and hearing ability may impair our capacity to fill out a form or understand a face-to-face explanation. Declining cognitive ability may create difficulty in making financial decisions. Moreover, there is the risk that senior citizens will become victims of financial crime.