Being prepared for later life: Findings from ‘Later Life in 2015’ Ageing Without Children conference 27th June 2016 Patrick Thomson, Senior Programme Manager

Who are we? The Centre for Ageing Better is an independent charitable foundation working for a society in which everybody enjoys a good later life We will develop, share and apply evidence to help people age better We will bring fresh thinking to the challenges and opportunities that everyone faces as more people live longer We will bring about change to improve later lives Being prepared for later life

I feel prepared for later life We want people to say: I feel prepared for later life I feel confident to manage major life changes I have a plan for my finances, my home, my care needs, and what happens when I or my partner dies I have the skills I need   Being prepared for later life

I am active and connected We want people to say:  I am active and connected I am in work and/or am making a valued contribution I have regular social contact with other people and some close relationships I keep physically and mentally healthy and active   Being prepared for later life

I live in a home and a neighbourhood suited to me We want people to say:  I feel in control I live in a home and a neighbourhood suited to me I have care, support and services that help me live my life Being prepared for later life

Later Life in 2015 research Being prepared for later life

What do people say is important to a good later life? Health Financial security Social connections These are interrelated Expectations are modest Personal outlook matters But - there is wide variation in how people experience later life Being prepared for later life

Six broad groups were identified Thriving boomers - typically in their 60s and early 70s, financially secure, in good health, strong social connections. Highest overall levels of happiness. Downbeat boomers – demographically similar to thriving boomers. Financially secure, in good health, strong social connections, but only average levels of happiness. Can do and connected - usually in their 70s or 80s and often widowed. Poor health and lacking disposable income, but higher than average levels of happiness. Strong social connections, can rely on others and have a positive outlook on life. Worried and disconnected - typically aged 70+ and retired. Financially stable, but sometimes with poor health. More likely to be socially isolated, often due to bereavement or losing connections they had through work. Below average levels of happiness. Squeezed middle aged - predominantly in their 50s, in good health, still in work. Squeezed for time, finances and at home. May have caring responsibilities, with less time for social connections or preparations for later life. Low scores of happiness. Struggling and alone - distributed across all ages. Long standing health conditions affecting social connections, financial security and ability to work. Likely to be living alone, with few people to rely on and lowest levels of happiness Being prepared for later life

Focus on two segments Similar in many ways - age, demographics, geographical spread But quality of social connections and outlook are different Can do and connected - usually in their 70s or 80s and often widowed. Poor health and lacking disposable income, but higher than average levels of happiness. Strong social connections, can rely on others and have a positive outlook on life. Worried and disconnected - typically aged 70+ and retired. Financially stable, but sometimes with poor health. More likely to be socially isolated, often due to bereavement or losing connections they had through work. Below average levels of happiness. Being prepared for later life

Can do and connected 29% 44% 64% 66% 73% 65% 74% 66% Being prepared for later life

Worried and disconnected 29% 4% 64% 44% 73% 81% 74% 58% Being prepared for later life

What else do we know about the can do and connected? Shows the positive effect of social connections and how a positive mental attitude can help overcome challenges. The oldest segment, many have health conditions which limit what they can do. Some lack disposable income; a third (35%) report having too little money to spend on their needs at least some of the time. Have been through a number of significant life changes, e.g. episodes of ill health. This segment comprises a large proportion of people who have been widowed. In spite of the issues they face, they have high levels of wellbeing; 44% give high scores (9 or more out of 10) when asked how happy they were yesterday. Have strong and reliable social networks – 95% have someone that they can rely on if they have a serious problem. Networks are a source of comfort, provide with emotional and practical support – something they are also happy to give in return. Being prepared for later life

Reciprocity – asking for and giving help Can do and connected and thriving boomers seemed more able to ask for help should they need it. Helped by a wide social network. Also more likely to give their own time to others – either informally (helping out people they knew) or through formal volunteering activities. Example: A participant gave time to a local community group using the skills they had acquired in the workplace. While they did not expect anything in return for this, they would feel able to ask for help because they themselves had given so much. Being prepared for later life

Different sources of social networks Participants built their social networks in a number of ways: Former or current colleagues from work Volunteering and social groups in the local area (e.g. University of the Third Age) Social groups that allowed people of different ages and backgrounds to mix was welcomed Faith groups Being prepared for later life

Social connections and keeping active Social networks can give: purpose, enjoyment and a means of contributing to others. Importance of activities: craft, trips out, going to the cinema and visiting galleries and museums. Building and maintaining social networks seems easier – and more of a priority – for women than men. women were more likely to meet others socially ‘on most days’ in comparison to men (38% and 31% respectively). Women are also more likely to say that relationships with other people are very important (66% vs 56% of men). Being prepared for later life

Social connections supporting major life changes Many spoke of the importance of having friends to spend time with - people who they could talk to and share both good and bad times with. The can do and connected had typically faced a number of challenges in their life including bereavement and periods of ill health. Good friends were a vital source of support. On bereavement – some explained how they made the most of their social networks, calling on them for support and to give their day structure and focus. Some stressed that they made a conscious effort to engage with people On retirement - particularly thriving boomers and can do and connected explained how their friends had introduced them to new activities and hobbies – something that helped them develop a new structure and purpose away from the workplace. “My best friend…she’s always there for me. I know that if I needed her, if I had a problem and went knocking, she would be there. And vice versa” - Can do and connected Being prepared for later life

Importance of personal outlook Participants compared themselves to people that they knew. Some looked at those in their network and found themselves wanting – particularly the downbeat boomers who felt that, in comparison to their peers, they had not achieved all that they had wanted to. Wishing that they had done more professionally, or had made the most of their relatively comfortable financial situation and travelled more. Some feel more in control over what happens in most situations at home than others; nearly all (98%) of the thriving boomers agree with this, as do 88% of the can do and connected – against an average figure of 81%. Being prepared for later life

Planning for care needs Few participants had actively planned for their need for care or assistance in later life. While many expected health to decline with age, few contemplated it getting anything more than slightly worse. Many spoke of not wanting to put provision in place until they absolutely had to – though this lack of planning could undoubtedly serve to make an already stressful time more difficult. Being prepared for later life

Too many people risk missing out on a good later life For example: Some people in middle age are finding themselves unable to save and plan for the future Some people in retirement are missing the social aspects of working and feel they lack purpose in their lives Some have been forced to stop working earlier than others due to poor health, and have become financially insecure and lonely How can we work with you to help more people to plan and prepare for a good later life? Being prepared for later life

Thank you Later Life in 2015 interactive report: laterlife.ageing-better.org.uk Patrick Thomson patrick.thomson@agebetter.org.uk