Welcome to the Life Well Spent Report 2026
To better understand the relationship between happiness and major spending in later life, we asked more than 2,600 UK adults to share:
- Their 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, funeral planning 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 how they spend their money.
The Life Well Spent Report is now in its fifth 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 June and July 2026 by Critical Research.
2,667 online interviews were completed, overall, with 2,016 nationally-representative interviews and a boost of 651 over 50s – resulting in 1,556 over 50s, in total, across the dataset.
For the over 50s, 45% of respondents are retired, and 26% are in full time employment. 67% own their own home.
Of the UK adults, 21% of respondents are retired, and 43% are in full time employment. 55% own their own home.
Report summary
An overview of our findings, from happiness to debt, funeral planning to spending on the home.
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 about retirement that so many enjoy?
Daily spending
Is the cost of living affecting our daily spending, 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
Are we going on holiday as much and where we want? And where would we go if money was no object?
Cash gifts
Giving can make the receiver very happy, but can it increase your own happiness? What about giving bigger gifts in later life?
Debt
Spoiler: debt is going down for over 50s, but is that the case across all UK adults? And what debts affect our happiness the most?
Funeral Planning
Funeral planning can be an important aspect of later life finances for many. But how do people prioritise this against other spends?
Equity release
Equity release can make life-changing spends possible, such as dream holidays, renovations, gifts to family, or paying off debts. But many still don’t know the ins and outs of equity release today.
Use our 60 second equity release calculator
See what your options might look like for releasing equity from your own home