50+ | The first retirement is the worst
The differences between generations decrease and barriers between "young" and "old" (when exactly is this respectively?) are broken. Life phases are not what they used to or should be. People at 50 act as if they still have their whole lives in front of them. They make plans, they turn their lives around, they become parents when they are middle-aged. They look for new partners or jobs, they dream of all the fantastic things they still want to do when they will finally have the time for them when they will be retired.
All these years, GIM 50+ research has observed the dynamisation that has occurred within this process of ageing during the past years.
For decades, the age of 50 was seen to be the entry age for the life phase of 'being old'. Endless discussions, particularly in marketing, about the 'Generation 50+ ' which is still often misunderstood today, were based on this assumption.
In researchers every day work but also during daily private life it can be observed that, in reality, the age of 50 is only rarely perceived as a real age barrier. True, many things happen after 50 which should be of great interest for brand manufacturers - but do these things really have anything to do with 'being old'?
This is why the GIM 50+ research team had a closer look: Which of all the things that are planned over the years are actually realized? Which dreams and desires do actually turn into reality? What does the so-called 'third age' do with people, also against the background of the influence that these processes have on consumption and investment decisions after reaching the retirement age.
The new GIM study provides insights in life perceptions and concepts, sets of values and consumption behaviour of older women and men aged between 65 and 80 and also of younger adults. The 'Look ahead and look back'-perspective shows interesting commonalities of certain life phases that have already been lived and projected life phases. At the same time, the study shed light on the extent of the disillusion at the '3rd age' and the actual (not only speculated) changes during retirement.
If you are interested, please don't hesitate to contact us: Renate Arndt & Manuela Walter.
