'Generation Flex' Unworried by Credit Crunch

By Michael Ross
Published on 8 Aug 2008
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'Generation Flex' Unworried by Credit Crunch

Britain's over-50s show far more positive mindsets than other age groups, new figures have suggested.

Older people are happier, more money-savvy and feel freer than other age groups, a new poll from Lloyds TSB claims today.

Dubbing Britain's over-50s "Generation Flex", the bank suggested that the demographic was better-placed than others to avoid the worst effects of the credit crunch.

Figures from the poll show that just 36 percent of under-24s consider their own quality of life to be "very high" - a rate that goes up to 43 percent of over-50s. Correspondingly, more older people said that they lived their lives "exactly as I want to" (50 percent), or were unconcerned or only slightly concerned by the credit crisis (69 percent).

Commenting on the results, 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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