Welcome to the Life Well Spent Report 2025
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, retirement, holidays, happiness and our homes, cash gifts, debt, and equity release.
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 are the happiest people, and what they spend their money on.
The Life Well Spent report is now in its fourth 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 2025.
2,040 online interviews were completed with people over 50. 40% of respondents are retired, and 30% are in full time employment. 70% own their own home.
Report summary
An overview of our findings. What do the happiest people spend on?
Happiness
They’re called our ‘golden years’ for a reason, but how much happier are we in later life?
Retirement
Does retirement make us happier? It would seem so – but what is it that makes retirement such a happy time for so many?
Daily spending
How has our daily spending changed in the last year, and what financial concerns do we have?
The home
Our house is our haven – but what makes the ‘perfect’ home? And can we afford to make home improvements while the cost of living is still so high?
Holidays
Can we afford to go on holiday as often as we like? And where would we go if money was no object?
Cash gifts
Can giving loved ones big financial gifts in later life make us happier?
Debt
It’s no surprise that debt can affect our happiness. But what debts are we worried about the most?
Equity release
Equity release can make life-changing spends possible. But many still don’t know the ins and outs of equity release today.
Use our 60 second equity release calculator
Release tax-free cash from your home