The traditional ‘three-stage’ life typically follows the pattern of education, work and retirement. But as 100-year lifespans become more common, is this still a realistic blueprint for modern living?1
At Aegon, we're exploring life after 50, or what we're calling the Second 50. As an adviser, you play a vital role helping your clients prepare financially and mentally for a longer, more enjoyable, multi-stage life. Take a look at our resources to discover the changing nature of later life and its many advice opportunities.
Key themes and findings
There are over 25 million people in their Second 50 in the UK.2
Our Second 50 research shows 'Running out of money' is a top three later life concern for 45% of those surveyed.3
Multiple complex pathways could result in individuals feeling overwhelmed.
Our research also found that only 27% of respondents currently in employment expect a 'hard stop' retirement (giving up working at once).3
Providing financial advice in a shifting landscape
We've carried out research into the multi-stage life and what we're calling the Second 50. You'll find our report, a visual guide highlighting the Five Fundamentals to help shape financial advice for this market and an article exploring the advice requirements.
The Five Fundamentals to help shape your advice
A multi-stage life is changing the way we approach retirement. We've broken down our research into Five Fundamentals to shape your advice and help guide your clients through the Second 50.
Healthy and active lifestyle being led?
- Physical health
- Mental health
- Social care
Will wealth cover clients?
- Financial security
- Pensions
- Homeownership
- Lump sum decisions
Who is caring for family?
- Marital status
- Caregiving support
- Financial support
Living longer and working longer?
- Work status
- Skill development
Are clients enjoying what they do?
- Happiness
- Social life
- Travelling and holidays
Client support
Our Five Fundamentals help capture the essence of what our Second 50 research is all about. Keep an eye out as we'll be adding resources you can send on to your clients over the coming months to this hub.
More resources to help support client's retirement objectives
- The 100-year life: Living and working in an age of longevity, Data Source, Lynda Gatton and Andrew Scott, Bloomsbury 2016
- ONS population estimates - June 2021
- Second 50 report - based on research carried out with 900 adult workers and 100 fully retired UK residents, on our behalf by H/Advisors Cicero, with 2022 data collected from 20-30 December 2022 and 2023 data collected from 1-18 July 2023.