Middle aged people suffer the lowest level of life satisfaction and highest levels of anxiety, suggesting more needs to be done to provide financial wellbeing, says Just Group.
Those aged between 45 and 64 were found to feel most dissatisfied with life of any age group bar the over 90s, according to data from the Office for National Statistics. There was also a noticeable dip in happiness levels among those approaching retirement.
The 45-49 year old age group also reported high levels of anxiety, with only those under 20 experiencing greater anxiety.
While the figures do not give a reason behind the scores, Just Group said given financial and mental wellbeing are closely interlinked, the findings suggest that financial concerns could be impacting their wellness. Those aged between 45 and 64 are most likely to have dependent families, with children going through school and university and elderly parents requiring care. Many will still also be paying off a mortgage.
Stephen Lowe, group communications director at Just Group, said: “People in the 45-64 age group often act as the glue that holds families financially together. The toll this can take on them can be overlooked but this research starts to paint a picture of how thinly stretched this group can feel.
“More recently we’ve seen employers take positive steps to support workers emotional wellbeing but the impact of financial pressure is all too often forgotten. There’s clearly a role for employers to play in helping colleagues with their financial wellbeing and the 45-65 age group are at a crucial point in their financial lives as they start thinking about approaching retirement.”
