A study of 2,000 adults looking into their future projections found that they believe they will own seven cars and visit 11 different countries in their lifetime. However, 59% confess that the best laid plans often go awry - and anticipate their aspirations might alter throughout their life.
This is mirrored by the 72% who predict their spending habits will shift as priorities evolve. The main future priorities for those surveyed were enjoying nice holidays (50%) and ensuring their kids are happy (42%), while one in five said purchasing a new property was a significant goal for them.
The research was conducted by AXA UK, as part of its 'Future You Will Thank You' campaign. Tara Foley, CEO of AXA UK and Ireland, commented: "The future holds so many uncertainties that it's hard to make steadfast plans, and unwelcome surprises can catch us all off guard. Making sure you're protected if the worst should happen offers security and reassurance in a world where nothing can be taken for granted. Our research shows that people are thinking seriously about their future, investing money for a rainy day and taking out insurance to protect what matters most."
The study revealed that despite people's best efforts, 58% felt they should be doing more to safeguard their future self.
Health and wellness (56%), financial planning (46%) and emergency preparedness (24%) are all areas that people feel they should focus on more, according to a recent survey.
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The study also revealed a strong awareness when it comes to future financial plans, with 49% of respondents saying they have a blueprint to achieve their long-term goals. However, just 9% do not have a plan - and don't intend to create one in the future.
The average adult expects to live in six homes in three different cities and work six jobs over the course of their lifetime, research has revealed. (© SWNS)Compared to previous AXA research in 2022, eating out and clothes remain the two expenditures people would like to curb when it comes to cutting back.
Interestingly, there has been an increase in people looking to spend more on holidays since 2022 (36%, up from 27%).
The research, conducted via OnePoll, also found that people continue to prioritise protecting themselves against unplanned eventualities by taking out insurance.
On average, adults spend an estimated £690 on their various insurance policies each year, which is £129 more than two years ago. This includes cover for car, home, mobile devices, health, travel and other valuable items.
Despite this, 43% admitted they opted for the cheapest option when buying insurance - in the hope they never need it.
Car (64%), house (60%) and contents (45%) remain the top three insurance policies people purchase to protect themselves from unexpected future events.
Tara Foley commented: "As a society, we've experienced so many unexpected changes over the past few years and our survey shows people are aware of the need to protect themselves against future risks."
"However, there is a rising desire to enjoy life to the full, with more people wanting to jet off for holidays abroad than when we carried out a similar survey in 2022."
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