British people in their 50s feel the least confident about retirement, according to new research from Aegon.

Only a third, 33%, of people aged 50–59 feel confident about retiring comfortably, the lowest of any age group.

The midlife dip in financial confidence contrasts sharply with younger adults, aged up to 49, who are 49% confident and even those over 60, who are 46% confident.

People aged 18-49 spend nearly £297 every year on anti-ageing products, almost three times the amount spent by those in their 50s, who splash out £100.80. The figure is more than four times that of those aged 60 plus, who spend just £71.

The research highlights a complex relationship with ageing, shaped by both appearance and anxiety, especially in the face of financial uncertainty, said Aegon.

Tom Mathar, head of Aegon’s Money:Mindshift said: “It’s a peculiar irony that, as a species, we’re living longer and healthier lives than any generation before us. Yet rather than seeing that as a gift, it often fills us with dread and anxiety.

“Our research suggests that financial concerns about ageing peak in our 50s, even as younger adults spend the most in anti-ageing products. The real problem isn’t ageing itself, it’s the fear and cultural stigma we’ve built around it.

“What’s striking is that while many in their 50s are investing in anti-ageing, they’re also the least likely to feel secure about their financial future. These behaviours may be less about denial and more about coping with uncertainty.”

He said that for many, midlife is a turning point. “It’s when people begin to feel the weight of time, question their relevance, and wonder what their future really holds. But a mindshift, or a money-mindshift, occurs when we see this not as a moment of uncertainty, but of possibility.

“If we can loosen the grip of fear and let go of the fantasy of eternal youth, we free up space - mentally and financially, to prepare for a future that’s grounded in who we are, not how old we are.”

• Results based on Opinium research carried out across a nationally representative sample of 2000 adults in the UK between 10 – 13 June.