Welcome to the Life Well Spent Report 2024
Welcome to the Life Well Spent Report 2024
To better understand the relationship between happiness and major spending, each year SunLife asks more than 2,000 people over 50 to share:
- Attitudes to money and spending
- What big purchases they’ve made in later life
- The big purchases they’d like to make if money was no object
- How their spending has affected their happiness
The report covers daily spending and financial concerns, holidays, happiness and our homes, home improvements, cash gifts, debts, and equity release.
With the cost of living still on everyone’s minds, the findings are a window into the lives, concerns and dreams of people over 50. Read on to find out how spending affects our happiness in later life, who the happiest over 50s are, and what they spend their money on.
The Life Well Spent report is now in its third year. For information on any of SunLife’s current reports or past editions, email pressoffice@sunlife.co.uk.
Report background
The Life Well Spent research was undertaken between May and June 2024. 2,063 online interviews were completed with people over 50. 38% of respondents are retired, and 26% are in full time employment. 69% own their own home.
Report summary
An overview of our findings. What do the happiest over 50s spend on?
Happiness after 50
They’re called our ‘golden years’ for a reason, but how much happier are we in later life?
Daily spending in later life
How does our daily spending change in later life, and what financial concerns do we have?
Happiness and the home
Our house is our haven – but what matters most to the over 50s when it comes to matters of the home?
Home improvements
Can people over 50 afford the home improvements that would transform their property into a haven?
Holidays
Can people over 50 afford to go on holiday as often as they’d like? And where would they go if money was no object?
Cash gifts in later life
Can giving loved ones big financial gifts in later life make us happier?
Debts
It’s no surprise that debt can affect our happiness. But what debts are the over 50s worried about the most?
Equity release
How can equity release help some people make life-changing purchases in later life?
Use our 60 second equity release calculator
Release tax-free cash from your home