Life begins at 40?

Despite the age old saying that life begins at 40, the latest research from online broker, Selftrade, reveals that this is in fact, the most stressful stage in life for Brits – more than eight in ten forty year olds say they are currently struggling with both personal and financial problems (82%).

At a time when the media spotlight is looking at the effect of the credit crunch on younger generations, the findings from Selftrade indicate that they are actually the generation with the least to worry about.

As part of a probe into how people react when life doesn’t turn out as they had hoped and how a ‘Plan B’ can help individuals regain control, the online broker asked a GB representative sample of 1,954 adults what issues they were currently having to deal with. The findings indicate that the most stressful time in life is actually between the ages of 45 and 54.

Relationship breakdown

People over the age of 40 are 17 per cent more likely to say that they are experiencing a life changing issue in some form compared to 18-24 year olds (82% versus 65%) so it would seem that from 40 onwards, life gets much more complicated.

Almost a quarter of people over the age of 40 are actively going through a breakup or a divorce (24%).

Bills Bills Bills

Almost half of 40 year olds put worrying about household bills as the top issue in their lives (49%), compared to just 34 per cent of those in their 20s.

At a time when over one million Britons are predicted to be on the dole by Christmas, more than one in six people in their forties are currently dealing with being made redundant and are now concerned for their future (15%).

Family time

As well having the most on their plate, Britons in their forties are also the most likely to worry about caring for elderly parents (17%) as well as keeping up with the costs of their children (27%), further adding to their stress.

Traditional gender stereotypes still appear to be in place; women are most worried about how to keep up with the costs of kids (15% compared to 11%) and household payments (41% versus 33%) whereas men are most concerned with their savings and longer term investments (41% compared to 36%).

Yorkshire and Scotland have the least issues to deal with (72%) compared with 82 per cent of those in the South of the UK. Britons in the South are also the most concerned about their savings and longer term investments (45%).

Stephen Barber, Head of Research at Selftrade commented: “Our findings suggest that life is more precarious once Britons reach their forties as they are forced to deal with personal and financial issues which they had perhaps not anticipated.

“It seems some Britons are anxious about their financial future yet do not know how to research a way out. We know that when it comes to money, Britons want to deal with modern investment services that are in tune with their fast paced lives. At Selftrade, we can help people get back in control of their destiny and to kick start a new ‘Plan B’ by offering investment solutions which suit their individual needs.

“Online investing means that it is quick and easy for people to prepare for their future, leaving them one less thing to worry about.”