Experian Reveals Mid-Life Makeover Trend
Released on: September 09, 2011, 3:28 pm
Experian CreditExpert, the UK's most trusted credit
monitoring service, has revealed that men and woman in their 40s and
50s are taking ownership of their existential questions and seizing the
opportunity to take real life-changing and self-affirming steps in
The mid-life crisis is often perceived as a 'curse' of middle age, associated with
men of a certain age attempting to relive their youth through extravagant purchases
like sports cars and designer clothing. But as average life expectancy, and with it
the age of retirement, creeps ever upward, this is all changing for men and women in
their 40s and 50s.
85% of 40-59 year-olds surveyed by Experian CreditExpert had felt the need to change their life situation
in the last five years, with responses demonstrating that, far from the expected
plans to splash out on cosmetic surgery or fast cars, mid-lifers are making
decisions that directly impact their work and life happiness, giving themselves a
second chance at achieving their ambitions and desires - from changing career or
learning new skills to seeing the world.
70% gave 'travelling the world' as one of their goals in later life, with the next
most popular options being 'spending time learning new things' (46%) and
'dedicating my life to a favourite hobby' (29%). By comparison, only 13% (and only
3% of men) would have a cosmetic makeover, and purchasing a sporty new run-around
did not feature at all.
The most clear gender divide was over what middle-aged men and women were most
hoping to achieve by making life changes. Among men, gaining a better work/life
balance was the most popular answer which was given by 32% of males (compared with
just 20% of females). By comparison, women's priorities were focused on adventure
and gaining new life experiences with 36% giving this answer, compared with 30% of
Simple life changes were shown to have the biggest effect on most people's
happiness, as 'making a career change' and 'making new friends' were both
expressed as having had a significant positive impact on their lives in recent years
by 51% of those polled.
Money was predictably shown to play a big part in achieving one's life goals. 69%
said that a sudden change in their financial situation, such as an unexpected
windfall or pay rise, would be the factor that was likely to kick-start their own
'mid-life makeover'. 74% felt that their financial situation was the only thing
still holding them back from making significant changes.
"People entering their late 40s in 2011 are still only halfway through their
working lives", said Pete Turner, managing director of Experian Interactive. "These results show that, far from throwing money at new toys in a 'quick fix',
many are channelling their energy towards making positive, fulfilling changes.
Preparing for the 'mid-life makeover' by cleaning up your credit rating can, for
many, be the first step towards achieving those dreams."
Notes to editors:
* All statistics taken from a survey of 2,000 UK adults aged 40-59 by OnePoll for
Experian UK, August 2011.
Experian is the leading global information services company, providing data and
analytical tools to clients in more than 80 countries. The company helps businesses
to manage credit risk, prevent fraud, target marketing offers and automate decision
making. Experian also helps individuals to check their credit reports and credit rating, and protect against identity
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of
the FTSE 100 index. Total revenue for the year ended 31 March 2011 was US$4.2
billion. Experian employs approximately 15,000 people in 41 countries and has its
corporate headquarters in Dublin, Ireland, with operational headquarters in
Nottingham, UK; California, US; and São Paulo, Brazil.
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