Travel Is The Bucket List Dream For The Over 55s

834

If you’re over 55 years old and don’t have a bucket list of things to see or do before you die, then you’re one of a minority.

An astonishing 90% of over 55s admit they have a wish list for retirement, according to a new survey by financial firm Prudential – but seven out of 10 do not expect to tick off more than a few of their dream activities.

Travel is the most popular bucket list option – with seeing the Northern Lights topping the list.

Other idyllic destinations include riding the Orient Express and a trip around the world.

Prudential launched the survey in a bid to find out what the over 55s would really do if they had a cash windfall – especially as they can now access their retirement savings due to new pension freedoms introduced in April 2015.

Northern Lights

Travel was involved in seven of the top 10 bucket list choices –

  • 38% dream of seeing the Northern Lights
  • 28% would love to travel on the opulent Orient express
  • 22% fancy a cruise
  • 18% want to visit one or all the Seven Wonders of the World
  • 13% are fascinated by America’s famed Route 66

Many over 55s have more modest aspirations. The eighth choice on the bucket list for 14% of those approaching the day they give up work for good is just the hope that they will retire one day.

This not such a strange wish, as in separate research, Prudential found that 10% of over 55s hoping to retire this year will have to stay at work until they are 71 years old because they do not have enough money to do otherwise.

Saving for retirement

Other bucket list ambitions include learning another language or writing a book.

“Spending time in retirement living your dreams is a great dream for many of us,” said a Prudential spokesman. “Those dreams have to match you budget and planning your finances can help achieve some of those ambitions.

“Certainly the over 55s now have plenty of funding options, but financing the lifestyle you may wish for is still difficult even with help from a professional adviser.”

“The rules have changed, but the principles are still the same – save as much as you can for as long as you can while you are at work to give yourself the best retirement you can.”

  • If you want some ideas for your bucket list, try out some suggestions on the bucketlist web site

Download the Free Pension Transfer Guide

Expat Pension Transfers Guide

iExpats.com expert writers have created a simple guide to Expat Pension Transfers just for you.

Find out how you could save tax, increase growth and investment opportunities with this simple, no-nonsense guide that will introduce QROPS, SIPPs and QNUPS options and talk through the pros and cons. Download the free guide by following the link below

Leave a Reply