Welcome to the Life Well Spent Report 2023
Welcome to the Life Well Spent Report 2023
Welcome to the
Life Well Spent
Report 2023
To understand the relationship between happiness and major spending, each year SunLife asks people over 50:
- 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, holidays, home improvements, cash gifts, debts, other big purchases and equity release.
Report background
The Life Well Spent research was undertaken between May and June 2023. 2,138 online interviews were completed with people over 50. 38% of respondents are retired, and 30% are in full time employment. 68% own their own home.
With the cost of living on everyone’s minds, 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 the happiest over 50s are, and what they spend their money on.
For a PDF version of any of our current reports or past editions, email: pressoffice@sunlife.co.uk.
Happiness after 50
They’re called our ‘golden years’ for a reason, but how much happier are we in later life?
Daily spending in later life
How does our daily spending change in later life, and what financial concerns do we have?
Holidays
Can people over 50 afford to go on holiday as often as they’d like? And where would they go if money was no object?
Home improvements
Can people over 50 afford the home improvements that would transform their property into a haven?
Cash gifts in later life
Can giving loved ones big financial gifts in later life make us happier?
Debts
It’s no surprise that debt can affect our happiness. But what debts are the over 50s worried about the most?
Other big purchases
When it comes to big purchases, what’s really worth spending on in later life?
Equity release
How can equity release help some people make life-changing purchases in later life?
Happiness after 50
They're called our 'golden years' for a reason,
but how much happier are we in later life?
Daily spending in later life
How does our daily spending change in later life, and what financial concerns do we have?
Holidays
Can people over 50 afford to go on holiday as often as they'd like? And where would they go if money was no object?
Home improvements
Can people over 50 afford the home improvements that would transform their property into a haven?
Cash gifts in later life
Can giving loved ones big financial gifts in later life make us happier?
Debts
It's no surprise that debt can affect our happiness. But what debts are the over 50s worried about the most?
Other big purchases
When it comes to big purchases, what’s really worth spending on in later life?
Equity release
How can equity release help some people make life-changing purchases in later life?
Use our 60 second equity
release calculator
