Retirees are living lives that their younger selves would be jealous of, according to a new poll of 2,000 Americans who have retired, or will retire before 2029.
The ‘Benjamin Button’ effect appears to be in full play, as retirees agree they’re aging backward and feeling more vivacious than ever.
60% of respondents are planning for, or already have implemented, a “retirement reinvention”—stepping into a completely new version of themselves—with more than a quarter saying their younger self would ‘love’ to live their current life.
Nearly half (43%) have picked up an old hobby (or plan to), and a third (33%) believe retirement will be their time to learn a new skill.
Eleven percent are getting into sports, while others are becoming writers (17%) or learning a new language (16%)—perhaps to prepare for some of their travel plans during retirement.
Commissioned by IHG Hotels & Resorts and conducted by Talker Research, the survey explored what this “new version” looks like, and the role that travel plays in respondents making the most of their retirement years.
Four in ten people surveyed have taken, or plan to take, the trip of a lifetime to celebrate retirement—and the majority (59%) are planning on traveling more during retirement than they traveled during their working years.
This may be due in part to 36% of retirees regretting how much they worked during their careers, compared to how much time they spent doing other things.
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Respondents said their biggest roadblocks to traveling during their careers were lack of budget (49%) and job flexibility (43%). But to make up for this, half want to spend less in other areas of their budgets, so they’re able to put more money toward travel.
The survey looked at the top destinations for those who went, or will go, on a retirement celebration trip. Locations in the U.S. topped the list for 59%, Europe was the favored spot for 31%, and somewhere else in North America was chosen by 23%. A few adventurers even pointed to Antarctica for their retirement trip.
“It’s incredible to see how many people are taking advantage of their retirement to enjoy things they didn’t have time for in their working years,” said Connor Smith, a vice president at IHG Hotels & Resorts. “The reality is, people put their careers and families first. So, in their retirement era, it’s inspiring to see them live their best lives.”
Along with traveling, respondents also said they’d probably start a side gig (freelancing with a small, part-time job or business) to have a little bit of extra income (78%) and to fend off boredom (45%).
While many have big travel plans and are picking up hobbies, the survey also explored who respondents might be enjoying these activities with.
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Looking into their love lives, nearly one in six (15%) want to find love during retirement and are planning to spend more time dating to find “the one.”
But some single retirees are happy on their own — so when planning how to make the most of their retirement, 16% have (or plan to) boldly put a solo trip on the books.
Regardless of whether they’re going solo or have travel mates, for those with an upcoming trip, 25% plan to spend as much time as possible exploring and adventuring rather than resting and relaxing.
“One of people’s biggest fears when heading into retirement is being bored,” said Smith. “But now we’re seeing that retirees have countless ideas on how to make the most of their hard-earned time. Whether that’s traveling, starting a side hustle or picking up a hobby, retirement can be an opportunity for adventure and reinvention, and anything but boring.”
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RETIREES’ TOP HOBBIES
– Gardening – 43%
– Reading – 42%
– Cooking – 38%
– Baking – 28%
– Fishing – 22%
– Painting – 17%
– Writing – 17%
– Learning a new language – 16%
– Photography – 15%
– Sewing – 14%
– Learning an instrument – 11%
– A sport – 11%
– Carpentry – 9%
– Dance – 9%
– Pickleball – 9%
– Singing – 7%
– Stand-up comedy – 2%