“I Just Need to Sit Down and Not be Scared of It”: A Photovoice Study of Financial Preparedness for Later Life among Mid-Life and Older Adults in the UK

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Financial stability in later life remains a pressing concern in the UK as limited pension contributions leave many individuals financially insecure in retirement. While research has mostly focused on work histories to explain the differences, other structural, cultural, and personal factors have received less attention. Using a lifecourse and capabilities approaches, the aim of this article was to explore factors that influence financial planning for later life. The study employed a photovoice methodology with sixteen participants (forty-five-plus years) from Hampshire, England. The study offers novel insights into factors that either positively or negatively affect financial resilience in later life or the ability to plan for it (financial mindsets and behaviours; access to financial knowledge and guidance; prioritising immediate needs in the cost of living crisis; imagining retirement and preparing financially). The study emphasises the importance of de-homogenising individuals’ experiences and highlights the need for lifelong financial education.