New research from Liberty and the University of Cape Town Liberty Institute of Strategic Marketing has revealed major shifts in how mid-career South Africans view long-term security in the face of intensifying financial and personal pressures.

The Messy Middle: A focus on mid-careers 35 to 55 highlights a move away from traditional thinking around wealth, retirement, health, work, and long-term financial security.

It includes interviews with 43 South African mid-career professionals across a range of industries and professions, supported by secondary research and academic literature to better understand the aspirations, anxieties and financial realities facing this influential demographic.

Era of peak responsibility

Around a third of the 16 million South Africans between the ages of 35 and 55 fall within upper-income and affluent segments with the averaging earnings for those aged 35 to 44 standing at approximately R378 937, increasing to R472 327 among those aged 45 to 54.

Yet despite higher earnings, many respondents described feeling financially vulnerable and emotionally stretched because, while earnings typically peak during this period, so too do financial pressures.

According to the research, this group is entering a phase defined by peak responsibility in which individuals have advanced professionally, purchased homes, have raised or are raising children, supporting extended family, and confronting mounting financial obligations simultaneously.

“The research shows that mid-career South Africans are not failing to plan, they are managing risk under constraint,” says  Paul Egan, Director, UCT Liberty Institute of Strategic Marketing. “This is a generation trying to hold together careers, families, aspirations and financial commitments in an environment where the margin for error feels increasingly small.”

Peak pressure meets growing insecurity

One emerging theme was what researchers termed “peak vulnerability”, the point in life where financial responsibilities are highest, but flexibility and recovery time feel lowest as they near retirement age.

The report highlights rising financial fragility despite apparent career stability. Nearly three quarters of working South Africans aged 30 to 49 say they sometimes or regularly live beyond their means.

Around 86% of working South Africans in this demographic support children, with education costs emerging as one of the biggest financial priorities and burdens.

Respondents consistently expressed fears around retrenchment, illness and financial regression and feeling “one bad year away” from losing hard-won financial progress.

There was also widespread concern around job insecurity, career stagnation and technological disruption. Despite being in established careers, many respondents felt that traditional job security no longer exists.

Others expressed anxiety about artificial intelligence and technological change, fearing skills obsolescence while simultaneously feeling too old to pivot careers or start over professionally.

Researchers identified what they called “the plateau effect”, a perception among many mid-career professionals that career growth and salary progression have slowed, even as financial obligations continue to rise.

A changing definition of success

Researchers found that aspiration is increasingly less about visible wealth and more about preserving stability and avoiding regression as a result of these mounting pressures. Rather than pursuing aspirational luxury, many respondents prioritised financial resilience, sustainability and protecting their families’ quality of life.

“What people increasingly want is not excess, but security,” says John Taylor, Head of Benefit Consulting, Liberty Corporate Benefits “The aspiration today is to remain stable, maintain dignity and avoid slipping backwards.”

Many respondents indicated that their focus has shifted from aggressive career progression to a more integrated view of wellbeing, where physical and mental health are seen as essential to maintaining long-term stability.

For this segment, health is no longer viewed as a given, with anxiety around physical and mental wellbeing in many cases surpassing financial concerns. For many, safeguarding their health is now seen as critical to protecting income, independence and quality of life in an increasingly unpredictable world.

Rethinking retirement in the “messy middle”

There are also significant changes in how mid-career South Africans think about retirement and long-term financial security. For many respondents, retirement is no longer viewed as a fixed destination marked by a specific age or abrupt end to working life. Instead, it is increasingly seen as a gradual transition shaped by multiple income streams, flexible work, side businesses and phased career changes.

The research also revealed growing anxiety around retirement adequacy, particularly among respondents who experienced career interruptions, economic shocks or delayed financial milestones. However, many participants rejected the idea that interrupted savings journeys necessarily represented financial failure.

Instead, respondents prioritised flexibility, resilience and maintaining financial stability through uncertain periods and increasingly associate retirement security with maintaining dignity and independence rather than achieving a specific wealth target.

“For many South Africans, the goal is no longer simply retiring at a certain age but creating enough stability and optionality to navigate an uncertain future with confidence,” says Taylor.

Evolving role for financial institutions

The findings suggest that financial institutions may need to move away from rigid retirement models and instead focus on solutions that support adaptability, income flexibility and long-term resilience across different life stages.

“The role of financial institutions is evolving. Consumers increasingly expect financial institutions to act as guides and advocates that help reduce fragility, build resilience and support people through changing life stages, not simply promote idealised financial outcomes.”

This means designing products, advice models and communication strategies that acknowledge cyclical financial realities, support life-stage transitions and prioritise long-term sustainability over perfection.

“At Liberty, we believe our role is not to lecture people about adequacy, but to help reduce financial fragility and build resilience in a world that feels increasingly uncertain,” concludes Taylor.