Finances 'stress out' 50-65 year olds

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Finances 'stress out' 50-65 year olds

Financial stress affects more people in the 50-65 year old age group rather than those in the autumn of their lives, new research conducted by Abbey has shown.

The 50-65-year-old age group were found to worry more about their financial situation and politics when quizzed about lifestyle concerns whereas over 65s lose these apprehensions somewhat.

Pre and post retirement age groups were found to have markedly different concerns about what affects their quality of life most, with the majority of 50-65 year olds citing government policy (20 per cent) followed by finances (18 per cent).

This is contrasted by 12 per cent of over 65s who were worried about finances and 11 per cent hassled by government policy. Health becomes the number one worry with this age group it was discovered.

Reza Attar-Zadeh, head of at savings at Abbey, said: "There is a clear division in the perceptions, habits and mentality of the 50-65 generation compared to that of the 65 plus generation."

The research complements the introduction of the new Abbey 50+ Saver account which offers an interest rate of up to 5.80 per cent.

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