New study reveals how the over 55s are planning to live life to the fullest in a post-pandemic world

  • A new study by Royal London reveals the top travel destinations for over 55s, how they plan on spending life post lockdown, and the factors that have held them back from achieving their dreams to date.
  • 64% of over 55s state they will travel more post-pandemic
  • The top destinations and bucket list items for over 55s revealed

We have all heard the phrase ‘life begins at forty’ but according to new data by Royal London, it may seem we were well over a decade out – life now actually begins at 55!

With the world being in lockdown over the past year, Royal London polled Brits aged 55+ on how they plan to spend life post lockdown, as well as their top goals/dreams. Having analysed the results, it seems a staggering 64% of over 55s are planning to travel more in a post-pandemic world.

Whether traveling for a holiday or achieving that lifelong ambition, the study has revealed the top bucket list items for those aged 55+.

Top 10 Bucket list items revealed

33% of people aged 55+ state that they are yet to achieve their lifelong goals due to lack of money, whilst 38% thought they would have achieved more by the time they reached 55.

When asked what bucket list items they will be chasing, 53% would like to see the Northern Lights, 42% would choose to travel on the orient express whilst 36% would opt to visit one of the Seven Wonders of the World. Living or buying a house abroad (25%), going on safari (22%) and taking a hot balloon ride (20%) are also popular options for the over 55s according to the research.  Fewer people, would choose to go to a major sports event e.g., Wimbledon – 20%, drive a supercar  – 16%,  and 13% would volunteer for a charity  or go to a festival.

What has held the over 55s back from achieving their goals

Nearly half (43%) of over 55s say they will regret not achieving their bucket list items if they fail to complete them. When asked why they’re yet to achieve their lifelong goals, respondents listed lack of money, work commitments, and family commitments as the top three reasons. The full list of reasons that have held respondents back are as follows:

Lack of money  – 36.6%

Work commitments  – 16.0%

Family commitments  – 12.4%

Poor health  – 9.4%

Just never got around to planning them – 9.1%

Never found the time – 8.8%

Didn’t know where to start – 5.1%

Commenting on the results Louise Eaton-Terry, later life lead at Royal London, states:

“Travel and new experiences are high on the bucket lists of over-55s post-pandemic. The research also shows that nearly half would regret not achieving their bucket list, with the lack of money or work and family commitments likely to be the reason for them not achieving their goals.”

Source – https://www.royallondon.com/media/press-releases/press-releases-2021/april/life-begins-at-fifty-five-new-study-reveals-how-the-over-55s-are-planning-to-live-life-to-the-fullest-in-a-post-pandemic-world/

Next article: Changing state pension age impacting retirement planning

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