Retirement savers are not spending their pension cash on those fabled yellow Lamborghinis – instead they have a bucket list of things to do before they die.
Most list the things they most want out of life in their early 50s, but must wait until they are 55 or older to find the money to accomplish their dreams.
Some of the bucket list must-do items are cheap and cheerful, but others run to several thousands of pounds.
On average, say financial firm SunLife, who carried out the research, someone will have to set aside £20,000 to do everything on the list.
SunLife’s director of marketing Ian Atkinson said: “For many, 50 is a milestone age when you not only look back and take stock but start planning new adventures and experiences.
Holiday of a lifetime
“While a third of people in their 60s and 70s say they try and save their money to pass on as an inheritance, far more would rather enjoy it now.
“Having worked hard, many believe 50 is the point where their life is just getting started. In other research, we discovered that eight out of 10 people age 55 and over will use assets such as property wealth to live a fulfilling and enjoyable retirement, with one in four admits they would invest in a holiday of a lifetime”.
For one in four, watching the Northern Lights tops the £20,000 retirement bucket list of things to do once you are aged 50+, while one in 10 plans to visit all seven continents and ride in a Venetian gondola.
Many in their 70s want to throw a coin in Rome’s Trevi Fountain, while those aged 50-55 are five times more likely to ride an elephant than a motorcycle.
The Bucket List
But nine in 10 people have at least one regret – not seeing enough of the world is the most common.
- See the Northern Lights – £750
- Visit each of the seven continents – £13,179
- Eat fish and chips on a seaside pier – £9.99
- Take a trip on a gondola in Venice – £32 for the ride but £685 for the trip
- Learn a second language – £150
- Go on a solo journey – £3,582
- Watch a meteor shower – Minimal cost
- Read 100 books – Minimal cost
- Climb a volcano – £2,045
- Fly in a helicopter – £125
The cost of each event was costed by SunLife.
