No. 1 isn't
visiting grandkids, and No. 4 might surprise you.
Donna Freedman • October 21,
2019
Ask five people what they
think retirement means, and you might get five completely different answers.
However, the recent Transamerica Retirement Survey of Workers indicates that
certain hopes are universal.
The top three retirement
dreams are common to baby boomers, Gen Xers and millennials alike. To all three
groups, concepts like “freedom,” “enjoyment” and “stress-free” are retirement
ideals.
The study, from the
nonprofit Transamerica Center for Retirement Studies, was based on interviews
with nearly 5,200 non-self-employed workers from all three generations.
Read on to learn the
things that workers most commonly dream of doing in retirement.
5. Volunteering
Workers who dream of
doing this in retirement: 26%
Volunteering doesn’t just
keep you busy, it also makes your community a better place.
Maybe you could take on
more responsibility in a service organization or place of worship.
Or, you might cast an
even wider net, by teaching adult literacy, leading a 4-H club, becoming a
master gardener, building houses with Habitat for Humanity or working at a
no-kill pet shelter. The list is virtually endless.
Bonus: You’ll
likely make new friends when you volunteer. You may encounter a wide range of
ages, too, rather than being stuck with your own demographic.
4. Working
Workers who dream of
doing this in retirement: 30%
Some 13 million Americans
age 65 or older are projected to be in the workforce by 2024, according
to the U.S. Bureau of Labor Statistics.
That’s not surprising:
Among other advantages, continuing to work lets you set more money aside for
retirement and delay dipping into your 401(k).
Some 30% in the
Transamerica survey said they dream of continuing to work when they retire, in
such endeavors as starting a business, trying out an “encore” career (entering
a new line of work) or continuing to work in their chosen field.
3. Pursuing hobbies
Workers who dream of
doing this in retirement: 48%
The word “hobby” covers a
broad range of activities –- indoor or outdoor, solo or group-based,
intellectual, athletic or just pure fun.
Some hobbies (yoga, tai
chi, swimming) can reduce physical pain and help you relax.
Geocaching, hiking and
birdwatching get you outdoors and are accessible to people of varying energy
levels.
A book club gets you
reading and discussing. Writing (memoir, poetry, essays or even letters to the
editor) lets you share your thoughts with the world. Joining a chess, bridge or
Scrabble club keeps your brain synapses firing.
2. Spending more time with loved ones
Workers who dream of
doing this in retirement: 57%
Retirement means your
visits with loved ones will no longer be limited to the vacation time offered
by your company.
Now, you can drive or fly
to see family or friends near and far. You can invite them to visit you, too,
since you’ll have the time to be a gracious host.
Do your grandchildren
live nearby? You might find great joy in babysitting either part- or full-time,
thereby helping your grown kids without busting your own budget. Even simply being available
for school holidays or as fill-in child care when a child is sick can be a huge
help.
Pro tip: Don’t
rely on loved ones to fill all of your socialization and
emotional needs. They have lives, too. Keep busy in a variety of ways,
including those hobbies, volunteer hours or that encore career or part-time
gig.
1. Traveling
Workers who dream of
doing this in retirement: 67%
Maybe the last time you
were in Europe you carried a backpack, stayed in hostels and hiked everywhere
you went.
These days you might want
less physical strain and more travel amenities. (Boy, does the cruise industry
want to hear from you.)
Not that all travel must
be on a giant boat. For example, the organization Road Scholar (formerly
known as Elderhostel) creates “learning adventures” via trips all over the
world, including in the United States. Another intriguing option: The
international cultural exchange nonprofit group Servas fosters an
affordable “work-study travel system” of travelers and hosts.
Want to plan your own
trip? Start by looking for senior discounts on hotel stays, cruise vacations and rental cars.
Disclosure: The
information you read here is always objective. However, we sometimes receive
compensation when you click links within our stories.
https://www.moneytalksnews.com/slideshows/what-workers-dream-of-doing-in-retirement/
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