While some people want to put their feet up and slow down in retirement, research from Aviva shows that there are plenty of those who have more adventurous plans.
Unsurprisingly, one of the top things people want to do when they retire is to go out and explore the world. This desire to travel in the future is even more understandable in the context of the coronavirus pandemic and the limitations it has placed on current travel options.
Two in five respondents1 to the survey put travel at the top of their bucket lists, with cruises (20%) and round the world trips proving very popular (23%). Many people listed specific sights they wish to see, such as the Northern Lights (27%), the Great Wall of China (11%) and the Rocky Mountains (11%), to mention just a few. Others want to travel overseas for specific experiences such as whale watching (nearly 13%) or seeing the Ashes cricket series in Australia (6%).
The ultimate retirement bucket lists of those with more adventurous plans also include a wide range of activities from hot air ballooning (8%) and skydiving (6%), to swimming with dolphins (12%) and mountain climbing (6%). More than 4% have bungee jumping included on their list, while almost 5% plan to take up a new sporting hobby, showing it's never too late to get active.
Being adventurous can mean different things to different individuals and some respondents also listed starting their own business (nearly 7%), while others included getting a tattoo (5%), having cosmetic surgery (4%) and learning a musical instrument (7%).
Make a meaningful lifestyle change
Research from Aviva also showed that many people are planning on making dramatic changes to the way they live when they no longer have to work, with more than a quarter of respondents dreaming of moving to live near the sea and nearly 16% saying they want to move abroad.
Since the coronavirus restrictions began, more than 40% of people say that nature, wildlife, and visiting local green and natural spaces have been even more important to their wellbeing2. Thus it’s not surprising that one in five survey respondents want to spend time gardening, own a vineyard (nearly 5%) or a small holding (7%), and nearly 7% want to build their own eco-home and/or live off the land when retiring.
Retirement bucket list just a dream for most people
Many experiences topping the ultimate retirement bucket list can be expensive and our research shows that just above one in three (35%) of UK adults think they are very likely or somewhat likely to do all or most things on their retirement bucket list given their current financial plans. Yet less than a quarter (23%) of respondents said they’ve spoken to a financial advisor about their retirement plans and dreams.
Mary Harper, MD of Aviva Financial Advice said: “One of the reasons some people don’t take advice is that they feel they don’t need it. Yet even simplified advice, investment advice or abridged advice can be really useful for achieving one’s financial goals and retirement planning. And by being so, help turn dream retirement into a reality - including ticking off most, if not all, items on the ultimate retirement bucket list.”
1. Data relates to Aviva’s retirement bucket list survey of 2,008 UK adults carried out by Censuswide Research between 26 May and 28 May 2021, unless otherwise specified.