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Over 50s defy credit crunch

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08/08/2008

A new generation of fun-loving and fancy-free over 50s – dubbed Generation Flex – is emerging, flying in the face of the credit crunch, according to Lloyds TSB Insurance.

In a survey of how different generations across the UK are approaching their lives in today’s uncertain climate, the over 50s shone as being the happiest, refusing to let the economic gloom get to them.

In comparison to other generations, they were found to be the most satisfied with their lives, the most financially savvy and least concerned about the credit crunch.

Top of the agenda for the over 50s generation was ‘freedom and flexibility to do what I want’, compared to other generations who were more focused on working hard and keeping their finances in check.

The golden qualities of Generation Flex, according to Lloyds TSB Insurance, are a carefree attitude, a financially savvy outlook and a desire for fairness.

Life coach Gladeana McMahon said: “When you reach your 50s, you finally become comfortable in your own skin, it is the decade of your life when you can truly become an individual and do all the things that you have wanted to do.

“People in their 50s tend to know their own mind and, as a result of their life experience, they can enjoy more fun and freedom than people much younger than them. It is this down-to-earth and flexible attitude that gives this generation the golden qualities which means they’re unphased by most of the challenges that life throws at them.”

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