Retirement is a common goal for working individuals. While the island vacations and country living ideals of retirement have changed, the general sentiment of a well-earned respite from the workforce remains the same. Still, it is productive to consider modern retirement trends as they may influence your own plans for life after retirement.
Though a common association of retirement from the past commonly presented a small, secluded home suited for peace, quiet, and relaxation of all kinds, more retirees are beginning to settle down in more urban areas. With more amenities and opportunities, cities provide a great atmosphere for retirees to enjoy their golden years.
Fewer retirees are prioritizing saving their retirement funds for their successors. Instead of setting aside a nest egg for their children or grandchildren, more and more retirees prefer to spend their savings.
Health & Fitness
Golf and tennis are often associated with retirees, and that much hasn’t changed. What’s different is more retirees are prioritizing their health in other ways. Adopting new diets, trying new fitness regimens, or getting gym memberships are common behaviors of retirees. Because the quality of life is a big influence on how long and well we live, retirees who prioritize their health and fitness are more likely to make the most out of their retirement.
A retirement filled with relaxation, golf, island trips, and leisurely activities is no longer the norm. Instead, a large portion of retirees are returning to the workforce. For some, this decision is a financial one; due to insufficient retirement funds or unexpected expenses, retirees take up part-time jobs to make up for this lapse. However, some retirees return to work for other reasons, finding pleasure and purpose in the decision. Some retirees find that retirement offers them an opportunity to switch industries or even start their own businesses.
Considering what you want out of retirement as well as the current trends can help you better prepare financially for your future. If the trends don’t suit your needs and desires, you should make your own path so that you can fully enjoy your retirement.