Menu
05/04/2007
'Dream lives' for baby boomers
The UK's over-fifties are living a dream life that is envied by the younger generation but may never be attained by them, a new report has claimed.
The Freetirement Generation report, undertaken by the Social Issues Research Centre on behalf of pensions company Friends Provident, found that people in their fifties were generally unburdened by debts and were free to choose how and when they work and explore new activities.
The report said that those aged between 52 and 60 - the 'baby boomer' generation - had achieved a form of perfect work/life balance that 'Generation X' - those aged in their 20s, 30s, 40s - strive for but may never be able to afford.
The report found that 60% of respondents said that retirement has given them the freedom to do what they want with their life, while more than half said that retirement had given them the opportunity to pursue a passion or hobby.
Nearly a quarter said that they had the freedom to choose the type of work they wanted to do, while 22% said that they worked for social contact and could now enjoy work without the stress and responsibility of the rat race.
YouGov surveyed nearly 3,500 adults over the age of 35 as part of the report.
Dr Peter Marsh, author of the report at Social Issues Research Centre, said: "The Freetirement Generation is in a unique position, having lived through a period of relative economic prosperity and booming house prices which mean it now has money to spare.
"Baby boomers are an important economic force. According to some estimates, the over-50 population now command approximately 80% of the UK's wealth."
Jeremy Ward, head of pensions marketing at Friends Provident, said: "It is ironic that some of today's retirees are living the kind of life that those in their 30s and 40s can only dream of - a life of financial freedom and freedom to pursue hobbies and interests with no added burden. On the other hand, our research shows that the Generation X group is experiencing retirement anxiety.
"If today's Generation X'ers have any hope of emulating their parents or grandparents then they need to start planning for their futures now."
(KMcA)
The Freetirement Generation report, undertaken by the Social Issues Research Centre on behalf of pensions company Friends Provident, found that people in their fifties were generally unburdened by debts and were free to choose how and when they work and explore new activities.
The report said that those aged between 52 and 60 - the 'baby boomer' generation - had achieved a form of perfect work/life balance that 'Generation X' - those aged in their 20s, 30s, 40s - strive for but may never be able to afford.
The report found that 60% of respondents said that retirement has given them the freedom to do what they want with their life, while more than half said that retirement had given them the opportunity to pursue a passion or hobby.
Nearly a quarter said that they had the freedom to choose the type of work they wanted to do, while 22% said that they worked for social contact and could now enjoy work without the stress and responsibility of the rat race.
YouGov surveyed nearly 3,500 adults over the age of 35 as part of the report.
Dr Peter Marsh, author of the report at Social Issues Research Centre, said: "The Freetirement Generation is in a unique position, having lived through a period of relative economic prosperity and booming house prices which mean it now has money to spare.
"Baby boomers are an important economic force. According to some estimates, the over-50 population now command approximately 80% of the UK's wealth."
Jeremy Ward, head of pensions marketing at Friends Provident, said: "It is ironic that some of today's retirees are living the kind of life that those in their 30s and 40s can only dream of - a life of financial freedom and freedom to pursue hobbies and interests with no added burden. On the other hand, our research shows that the Generation X group is experiencing retirement anxiety.
"If today's Generation X'ers have any hope of emulating their parents or grandparents then they need to start planning for their futures now."
(KMcA)
Related UK National News Stories
Click here for the latest headlines.
02 February 2015
Sony Create New Jobs In North Wales
Thirty new jobs are to be created in Bridgend county by technology giant Sony. The company said it is recruiting the additional staff to cope with the demand for its next generation computer.
Sony Create New Jobs In North Wales
Thirty new jobs are to be created in Bridgend county by technology giant Sony. The company said it is recruiting the additional staff to cope with the demand for its next generation computer.
09 June 2011
BMW Drives £500m UK Investment
The BMW Group has announced an additional £500 million investment in its UK production network over the next three years and confirmed that the UK will be a production location for its next generation MINI models. This takes the company’s investment across all its UK operations to more than £1.5 billion since 2000.
BMW Drives £500m UK Investment
The BMW Group has announced an additional £500 million investment in its UK production network over the next three years and confirmed that the UK will be a production location for its next generation MINI models. This takes the company’s investment across all its UK operations to more than £1.5 billion since 2000.
25 April 2005
Charity warns of ‘forgotten’ mental illness sufferers
Around 50,000 people suffering from severe mental illness are having their mental, physical and social needs ignored, a charity has claimed. Mental health charity, Rethink, published a new report, entitled ‘Action Stations’ which claimed that the services these patients rely on are often being closed in order to fund other services.
Charity warns of ‘forgotten’ mental illness sufferers
Around 50,000 people suffering from severe mental illness are having their mental, physical and social needs ignored, a charity has claimed. Mental health charity, Rethink, published a new report, entitled ‘Action Stations’ which claimed that the services these patients rely on are often being closed in order to fund other services.
19 November 2004
UN launches emergency appeal for occupied territories
The UN has launched an emergency appeal today to help tackle the "worst levels of destruction" so far in the four-year Palestinian uprising against Israel. The UN has called for $185.8 million to allow it to carry out "crucial relief operations" for 1.6 million people in the occupied West Bank and Gaza.
UN launches emergency appeal for occupied territories
The UN has launched an emergency appeal today to help tackle the "worst levels of destruction" so far in the four-year Palestinian uprising against Israel. The UN has called for $185.8 million to allow it to carry out "crucial relief operations" for 1.6 million people in the occupied West Bank and Gaza.
31 May 2011
‘Generation Rent’ On The Increase In Britain
Britain is home to a generation of renters who are giving up on buying their own home, an in-depth new report has revealed. If attitudes become reality, the shape of Britain’s housing market will be fundamentally changed within a generation.
‘Generation Rent’ On The Increase In Britain
Britain is home to a generation of renters who are giving up on buying their own home, an in-depth new report has revealed. If attitudes become reality, the shape of Britain’s housing market will be fundamentally changed within a generation.
-
Northern Ireland WeatherToday:A dry and sunny start but cloud bubbling up with a few showers developing from late morning. Sunny intervals and scattered showers in the afternoon, these could be heavy at times. Maximum temperature 12 °C.Tonight:Remaining cloudy with a few showers continuing through the evening. Some drier, clearer spells in the early hours, before cloud builds and showers turn more persistent towards dawn. Minimum temperature 4 °C.
