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Consumer Lifestyle
Published: 31 Aug 2017

UK Boomers & Seniors: Ageing Anxieties

Some 31% of over-75s in the UK are anxious about relocating to a retirement home

The top ageing-related concerns among over-55s in the UK are health issues, financial security and being moved from their homes, according to a report published this month by global market research group Mintel. Key highlights include:

  • Wellbeing Worries: The primary age-related concern for Brits aged 55+ is the fear of developing dementia, with 56% citing this as their number one worry. Forty-four per cent are anxious about developing other illnesses. However, they're happy to age gracefully, with just 8% worrying about looking older.  
  • Financial Fears: While just 11% of over-75s are nervous about not having enough money for the future, this rises to 37% for those aged 55-64. "The over-55s are often characterised as a financially very secure demographic," said Jack Duckett, senior consumer lifestyles analyst at Mintel. "However, this is not the case across the entire group, with many 55-64s experiencing stretched finances as they continue to offer fiscal support to their families."
  • Relocation Trepidation: Moving into residential care is a major concern for the UK's oldest consumers, with 31% of over-75s anxious about relocating to a retirement home, followed by 26% aged 65-74 and 19% aged 55-64.
  • Fed Up with Stereotypes: Some 23% of over-55s say they're adventurous, while 40% view themselves as fun-loving, and 48% are self-described as healthy. Marketers should take care not to stereotype this generation as a conservative group with declining health.

For more insights into the attitudes and behaviours of older generations, see Boomers Rising: Ready for Adventure and Senior Fitness: Channelling Wellness.

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