Over 50s wealth forecast
3 minute read
Legacy or lifestyle - what's driving your saving goals?
3 minute read
At Coventry Building Society, we think there’s more to life than setting money aside for the unexpected. Those rainy days we all talk about.
Instead, we should be saving for the things that bring us joy, too. For special trips, exciting adventures and spending time with loved ones.
But we know those over 50 aren’t just saving for the good life. They’re also saving for impact. They’re asking: ‘What kind of legacy do I want to leave?’ instead of ‘Do I have enough to retire?’
What legacy means to people over 50
Legacy is all about what we leave behind. It’s not just about money or assets, but the lasting impact we’ve had on the world.
According to Sunlife’s 2024 research, 40% of people over 50 want to leave an inheritance. But 21% say they’d prefer to help their loved ones now.1
This might include:
- Helping with a house deposit
- Covering the cost of a wedding
- Supporting a new parent after the birth of a grandchild
- Taking a big family trip.
Finding a balance
Deciding whether to save for the future or live for the now is an important choice. And we know it’s something a lot of us think about.
According to our Sunny Days Savings Index, around a third of over 50s want to enjoy their savings while they can – even if that means leaving less behind.2
On one hand, it’s good to prepare for the future. Making sure you have financial security, ensuring you can support your loved ones...
But on the other hand, life is happening now. Using your savings to enjoy each day or live comfortably is just as valuable.
What is values-based saving?
More savers are choosing to align their savings with what matters to them. This is called values-based saving – using your money in ways that reflect your goals and beliefs.
This could mean:
- Planning with family – Having open conversations with loved ones to understand each other’s needs and plans
- Reviewing your goals – Checking in after big life events, like retirement or a bereavement, to make sure your savings still match your priorities
- Staying flexible – Letting your plans adapt as life changes
- Feeling secure – Using tools like ISAs not just for the tax benefits, but to build confidence and financial stability
Savings open the door to freedom and security. They are a cushion for the unexpected and a way to support what matters most.
Helping you save with a purpose
At Coventry Building Society, we can help you plan for what’s important to you. Your goals are personal to you. Whether you want to support your family, give a gift, or make your mark some other way, we offer:
- A choice of fixed and variable rate savings accounts
- Tax-efficient ISAs
- Online blogs and news on the wider financial environment
Saving with us is more than just getting ready for retirement. It is about preparing your legacy – for your family, your community and your future.
We have a range of savings accounts available that could help you save for your personal goals.
1. Source - Sunlife research
2. Source - Coventry Building Society Sunny Days Index
Published August 2025
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