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Income Roulette Report 2018

21 November 2018


For the 2018 Income Roulette report we partnered with YouGov to survey the financial resilience of over 8,500 adults living in the UK.

Broadening our research this year to include people in, or nearing retirement we asked questions around financial resilience. We explored the issues they face around debt, savings, protection and pension planning and found that as a nation, millions of individuals and households are poorly prepared to withstand income shocks and/or put plans in place for their retirement. The three groups we identified that represent the UK today, are the: Peter Pan Generation, Sandwich Generation and Reaching Retirement.

Across the UK

When comparing the 2017 findings, we can see that although as a whole people are beginning to safeguard themselves against the unexpected and confidence is up marginally, when looking at the individual groups there are clear pockets where more needs to be done.

  1. 34% don’t think they could handle a personal financial crisis > (33% in 2017)
  2. 29% are worried they'll never be able to save for a rainy day > (32% in 2017)
  3. 44% have the recommended 3 months of outgoings in savings > (37% in 2017)

Our 2018 Income Roulette report uncovers:

  1. Stories of financial resilience; uncovering the reality of people’s different life situations
  2. Talks about Income Protection; busting the myths around income protection insurance and how this essential cover can help people to protect their income
  3. Encourages people to seek retirement advice; educating clients to understand the importance of seeking independent financial advice to provide better long-term outcomes
  4. Conclusions; we’re committed to helping improve people’s financial resilience and so we identify areas for action to take forward
Woman smiling - in the peter pan generation

Peter Pan Generation

People aged 30-35, of which there are nearly 4.7 million in the UK, who are putting off life milestones as they don't feel financial mature enough.


  • This group are the least financially resilient of all three
  • Around a quarter of this group are worried about the financial impact of potential life events
  • Credit card debt is their biggest source of debt
Bearded man smiling - in the sandwich generation

Sandwich Generation

People in their 40s and 50s who have one or more children and consider themselves a carer for older relatives or a friend.


  • Made up of an estimated 2.4 million, the Sandwich Generation tend to be financially stretched, squeezed and strained
  • This group worry about the financial consequences an illness or death could have on their family
  • More than a third are unsure of what is in their pension fund
Older lady reaching retirement

Reaching Retirement


In this group we look at people approaching retirement and those who have already retired. Although they tend to be more financially resilient, retirement is lasting longer & seen as another phase of life, which brings new financial challenges.

  • More financially resilient with 66% able to cope if they were to lose their income
  • Seeking financial advice at this life stage will make it easier for them to transition into retirement

In our first Income Roulette report in 2017 we partnered with YouGov to survey the attitudes of over 9,000 adults living in the UK. We asked questions around financial resilience (debt, savings and protection) and identified three large groups who are at risk in society today. Representing millions of individuals and households across the UK they are: Generation Debt, the Self-employed and Middle Britain.

The Income Roulette report uncovers more by:

  • Shining a spotlight on the three groups; with useful insights into consumer attitudes to savings and debt
  • Revealing stories of financial resilience; uncovering the reality of people’s different situations
  • Talking about Income Protection; busting the myths around income protection insurance
  • Conclusions; identifying areas for action
  • LV=, financial resilience and Income Roulette; our support for advisers and our wider involvement

The stark facts:

Across the UK: 6 in 10 adults (63%) believe they are financially capable. 33% don't think they could handle a personal financial crisis. 32% worry they'll never be able to afford to save for a rainy day. Just 37% have the recommended 3 months' of outgoings in savings.

The income shock!

In the UK nearly one million people are unable to work for one month or more because of sickness or an accident – and it’s the sudden loss of income that can happen to anyone – often striking with little or no warning. The consequence of an ‘income shock’ is that many people can find themselves unprepared, leading to both financial and emotional upheaval for themselves and their families.

Income Roulette report

Take a look at the Income Roulette report to uncover more about the three groups and what action is needed to help them manage their money. We also explore the role for income protection insurance and how you as an adviser (along with us) can work together to make sure more people protect their income, themselves and ultimately, their families more effectively.


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