Poll Reveals 50-Somethings’ Loves, Worries And Financial Situations

According to new research, 50-somethings in the UK love to watch Only Fools and Horses and Fawlty Towers, favour Queen and David Bowie over Abba, and much prefer Grease to Star Wars. Sound like you?

The poll, conducted by Nationwide, studied 2,000 people between the age of 50 and 59 to discover what really makes them tick in every aspect of their life. The classic 80s show Only Fools and Horses topped their TV preferences, but also in the top ten were other beloved shows such as Blackadder, Dad’s Army, and The Vicar of Dibley.

The research by the bank also took a look at the average spending and saving habits of the generation, finding that the average 50-something earns around £19,000 a year – but, that’s for 21 hours of work a week.

And despite most of them still working, apparently the average person in their 50s says they have just £4,511 in savings, and only £297 disposable income per month. But in terms of property, they’re doing pretty well, with four in ten of them saying that they’ve paid off their mortgage, while 28% are still paying it off. 28% say they are still renting.

Larry Banda, Director of Financial Planning for The Nationwide Savings, who conducted the survey, said: “Hitting the half century in terms of years really is middle of the road.

“Often we are squeezed from both sides – supporting both our grown-up children but also our parents as they get older.

“Our research reveals a mixed bag of experiences. While money tends to be tight for the average fifty-something, with debt narrowly outweighing savings, they are an aspirational group, intent on enjoying the good times.”

The study also looked at what really worries people in their 50s. Understandably, given the prevalence of ill health as we get older, most 50-somethings would cite their health as one of the ‘Top 10 Worries’, followed closely by saving money, financial security, and their partner’s health.

But the generation still have big plans for the next few decades. 20% of those surveyed admitted that they want to see the world, while 12% aspire to learn a new language, and a whopping 39% say that seeing the Northern lights is top of their bucket list. 5% even hold out hopes of travelling to space!

So what do you think – do any of these ring true for you?