UK Boomers & Seniors: Ageing Anxieties
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.