Important ages in the lifecycle

ONS have just released a report setting out the milestones in peoples lives. An outline is set out below.

For the full report why not visit:

https://www.ons.gov.uk/peoplepopulationandcommunity/populationandmigration/populationestimates/articles/milestonesjourneyingthroughmodernlife/2024-04-08

Milestones: journeying through modern life

Age 23: Starting full-time work 

Women start full-time work later than men

More women go to university than men

 

Age 24: Moving out of the family home

Half of people aged 24 years did not live with their parents in 2021, compared with half of people aged 21 years in 2011

 

Age 28: Moving in with a partner

Fewer people were living in couples in 2021 than in 2011

 

Age 29: Having a first baby

The age of first-time mothers has been increasing steadily since 1970

 

Age 31: first marriage

Both men and women are getting married at older ages

 

Age 36: Buying a home

The proportion of people who own their own home has decreased since 2004

 

Age 47: Peak earnings

The age that people have the highest average earnings increased to 47 years in 2023

Men’s hourly wage is higher than women’s at nearly all ages, but the gap has narrowed since 2013

 

Age 59: Providing unpaid care

Women are more likely to provide unpaid care than men

 

Age 61: Owning a home outright

A greater proportion of people aged over 60 owned their homes outright 2022 than in 2004

 

Age 65: Becoming a grandparent 

People are becoming grandparents later in life

 

Age 66: Retiring

People retired at older ages in 2021 than in 2011

 

Life expectancy from retirement at age 66

Women who are at retirement age (66 years) can be expected to live on average to 87, and men aged 66 years can be expected to live until 85. Women aged 66 have a 5.5% chance of living to 100, compared with a 3.1% chance for men.