Contrary to expectations, turning 50 isn’t about being over the hill, more a case of being ready for more – more time, more money, more experiences.
What is life like after 50? If you imagine that joie de vivre evaporates after half a century, you’re entirely on the wrong track. Instead, recent research shows that Britain’s 50-year- olds are having the time of their lives.
Over-50s are Britain’s great travellers, with almost 60pc of the UK’s spending on travel coming from this age group. They aren’t just going to traditional destinations either. Increasingly they are flying to Africa, India and the Caribbean.
When they aren’t jetting off around the globe, the over-50s are starting new careers, with many choosing to be self employed for the first time.
They’re happier, they care less about what others think of them and they’re more interested in experiences
And Britain’s over-50s have plenty of money to help fund their lifestyles. Thanks to record levels of home ownership and spare cash freed up when children leave home, many can afford to spend on what they want.
In fact, a recent SunLife report showed that “Empty Nesters” – those mainly in their 50s whose children have left home – have an average £519 per month in disposable income.
It’s clear that they have plenty of money for the things they enjoy. They buy 65pc of the nation’s new cars and enjoy the lowest insurance premiums on them, because they represent such a low risk for insurers.
Britain’s over-50s are well connected when it comes to technology, with 87pc of those over 55 now having the internet at home. They know how to use it too – 7pc of over-55s make at least one purchase online a month, and nine out of 10 will use the internet to both research and buy products. By 2025 they are expected to account for two thirds of online retail.
Over-50s are starting new careers, with many choosing to be self employed for the first time
“Our research shows people over 50 are busier than ever – busy enjoying the best years of their lives. They’re happier, they care less about what others think of them and they’re more interested in experiences than things,” says Dean Lamble, CEO of SunLife.
“We’ve also seen that people over 50 don’t have time for jargon or complex offers or poor service,” he says. “In financial services they want straightforward service, good value and benefits that are important to them – and at SunLife we’re re-engineering our business to do exactly that.
“People in their 50s, 60s and 70s today are really showing us that life begins at 50.”
Welcome to life after 50
Everyone’s saying that 50 is the new 30 – with more free time and more disposable income, you can go on that round-the-world cruise you’ve always dreamed of or even fulfil your lifelong ambition of learning to become the next David Bailey.
SunLife understands that life begins at 50, which is why they’ve teamed up with the Telegraph to provide a wealth of inspirational case studies, money management tips and useful checklists to help you make the most of your golden years.
Visit tgr.ph/sunlife for exclusive advice, handy tools and fun interactive content.
Sources:
1 telegraph.co.uk
