Why Financial Wellbeing Deserves The Same Attention As Physical Wellbeing

By the time many people reach their 50s, looking after their physical wellbeing often becomes a bigger priority than it was in earlier years.

It’s a natural response. The choices we make today can influence how we feel, not only now, but for years to come.

Yet there’s another aspect of long-term wellbeing that doesn’t always receive the same level of attention: our financial health.

While physical wellbeing and financial wellbeing are very different, they have one thing in common. Both benefit from regular attention rather than being left until problems arise.

Thinking Ahead Is Becoming Part Of Everyday Life

The latest research commissioned by My Pension Expert suggests today’s over 50s are taking a more proactive approach to their future health. Two-thirds of Gen X say they now prioritise their health more than when they were younger, while four in five report following healthier diets.

Those findings aren’t simply about fitness or nutrition. They reflect a broader shift in mindset. Increasingly, people are making choices today that they hope will support a healthier, more active future.

Applying that same thinking to retirement planning can be equally valuable.

Just as physical wellbeing isn’t built overnight, financial confidence is rarely the result of one significant decision. It often develops gradually through understanding your options, reviewing your plans and staying engaged with your long-term goals.

Why Financial Wellbeing Can Feel More Difficult To Prioritise

Looking after your health is often encouraged through routine appointments, public health campaigns and everyday conversations. Financial wellbeing, on the other hand, can feel less straightforward.

According to the research, three in ten people aged 45 to 59 say they have no primary source of financial advice.

That doesn’t necessarily mean people aren’t interested in planning for the future. More often, it reflects uncertainty about where to begin, who to speak to or how to make sense of the choices available.

Unlike a visit to the GP or dentist, there isn’t always an obvious reminder to review your pension or retirement plans.

The Decisions We Research… And The Ones We Delay

Think about the last time you bought a new piece of technology or planned a holiday.

Chances are you spent time comparing options, reading reviews or seeking advice before making a decision.

Interestingly, My Pension Expert’s research found that 43% of people seek advice before buying technology and 41% do so before booking a holiday. By comparison, only 35% seek advice about their pension.

It’s an interesting contrast.

Retirement is likely to be one of the longest chapters of our lives, yet it’s easy for pension planning to slip down the priority list because it feels distant or unfamiliar. Unlike buying a new phone or booking a trip, the benefits of engaging with your pension aren’t always immediate, even though the decisions made today can influence the years ahead.

Building Confidence, One Conversation At A Time

Financial wellbeing isn’t about having every answer or making constant changes to your plans.

Instead, it’s about feeling informed enough to make decisions with confidence. That could mean reviewing your existing pensions, checking whether your retirement goals have changed or simply asking questions that help you better understand your current position.

Like physical wellbeing, financial wellbeing isn’t a destination. It’s something that evolves as your circumstances, priorities and ambitions change throughout life.

Looking At The Bigger Picture

Good health can help you enjoy retirement. Financial confidence can help you feel more prepared for it.

Giving both the attention they deserve doesn’t mean making dramatic changes overnight. Sometimes, the most valuable step is simply taking the opportunity to understand where you stand today and whether your plans continue to support the future you want.

If you’d like to gain a clearer understanding of your pension or discuss your retirement goals, speaking with a pension expert can help you explore your options and make informed decisions based on your individual circumstances.

This article is for general information only and does not constitute personal financial advice. Pension planning should always be considered in light of your individual circumstances and retirement objectives. The value of investments can fall as well as rise, and you may receive back less than you invest.

Data quoted in this email comes from the My Pension Expert report ‘Thrifty at 50: A report into how Gen X are redefining midlife.’