Only a third of people in their 50s feel confident about retiring comfortably, the lowest of any age group, despite being closest to retirement and likely at the peak of their earning years, according to Aegon.
According to the research, confidence is noticeably higher among younger adults at 49 per cent, and among over-60s at 46 per cent.
The findings highlight a dip in financial confidence during midlife, despite this group being closest to retirement. At the same time, people aged 18 to 49 are spending nearly £300 a year on anti-ageing products, almost three times more than those in their 50s, and more than four times the spend of over-60s.
The research points to a complex relationship with ageing, shaped by concerns about both appearance and financial security.
Speaking on Aegon’s latest Money:Mindshift podcast, author and professor Dr Anne Karpf argues that ageing is often treated as a personal failing rather than a cultural issue, fuelling demand for anti-ageing solutions at the expense of proper financial preparation for later life.
She discusses how age anxiety surfaces in everyday life, from fearing milestone birthdays to the rise of cosmetic tweaks in younger adults. Even compliments like “you don’t look your age,” she says, reflect a fear of ageing.
She outlines two dominant cultural views of ageing, which are decline or denial. She proposes a “third way” that embraces both gains and losses. She says: “Ageing is a privilege. It can also bring freedom from the pressures of youth and from caring what others think.”
Her message aligns with Aegon’s Second 50 campaign, which supports people navigating life beyond 50.
Aegon head of Money:Mindshift Dr. Tom Mathar says: “Midlife is often a turning point. But by shifting our mindset, we can move from fear to possibility—freeing up mental and financial space to prepare for a future based on who we are, not how old we are.”
Mathar adds: “It’s a peculiar irony that, as a species, we’re living longer and healthier lives than any generation before us. Yet rather than seeing that as a gift, it often fills us with dread and anxiety.
“Our research suggests that financial concerns about ageing peak in our 50s, even as younger adults spend the most in anti-ageing products. As Dr. Anne Karpf explains, the real problem isn’t ageing itself, it’s the fear and cultural stigma we’ve built around it.
“What’s striking is that while many in their 50s are investing in anti-ageing, they’re also the least likely to feel secure about their financial future. These behaviours may be less about denial and more about coping with uncertainty.”
