Ask five people what they think retirement means, and you may get five entirely different answers.
However, the 2021 Worker Retirement Across America Survey indicates that some hopes are global.
The first three retirement dreams are common among baby boomers, Xers, and millennials alike. For all three groups, concepts such as “freedom,” “enjoyment,” and “stress-free” are retirement ideals.
The study, from the nonprofit Transamerica Center for Retirement Studies, was based on surveys of more than 3,100 full- or part-time workers from all three of those generations, as well as some who were older (born before 1946) or younger (Gen). NS).
Read on to learn about the things workers often dream of doing in retirement.
Workers who dream of doing so in retirement: 26%
Volunteering not only keeps you busy, but also makes your community a better place.
Perhaps you could take on more responsibility in a service organization or place of worship. Or you can create a broader network by teaching adult literacy, leading a 4-H club, becoming a master gardener, building homes with Habitat for Humanity or working at a pet shelter. The list is practically endless.
As a bonus, giving back to your community will likely give you something in return: a sense of purpose. Giving is a common source of retiree purpose, as we detail in “8 Greatest Sources of Fulfillment for Retirees.”
Workers who dream of doing so in retirement: 38%
It is expected that 13 million Americans age 65 or older will be in the workforce by 2024, according to the US Bureau of Labor Statistics.
This isn’t surprising: Among other benefits, continuing to work allows you to set aside more money for retirement and delay immersion in your retirement accounts.
Nearly 40% of Transamerica survey respondents said they dream of continuing to work when they retire, in pursuits such as starting a business, trying a new field of work as a “boot” career or continuing to work in their chosen field.
3. Doing Hobbies
Workers who dream of doing so in retirement: 51%
The word “hobby” covers a wide range of activities – indoor or outdoor, individual or team, intellectual, athletic, or just pure fun.
Certain hobbies (yoga, tai chi, swimming) can help reduce physical pain and help you relax.
Outdoor hiking and birdwatching make the outdoors accessible and accessible to people of different energy levels.
Book Club makes you read and discuss. Writing (memoirs, poetry, articles, or even letters to the editor) allows you to share your thoughts with the world. Joining a game of chess, bridge, or a scrabble club keeps your brain’s synapses burning.
Can you even turn your post-retirement hobby into making money? Learn more in “25 Hobbies You Can Turn into a Business”.
2. Spend more time with family and friends
Workers who dream of doing so in retirement: 59%
Retirement means that your visits to loved ones will no longer be limited to vacation time provided by your employer. Now, you can drive or fly to see family or friends near you and far away. You can invite them to visit you too, as you will have time to be a gracious host.
Don’t depend on your loved ones to fill it up everyone of your social and emotional needs. They have a life, too. Stay busy in a variety of ways, including hobbies, volunteer hours, career-recovery, or part-time work.
Workers who dream of doing so in retirement: 65%
Perhaps the last time I was in Europe I carried a backpack, stayed in a hostel and strolled wherever I went. These days, you may want less physical stress and more travel amenities. (Boy, does the cruise industry want to hear from you You are.)
Not that all trips have to be on a giant boat. For example, the non-profit Road Scholar creates “educational adventures” with trips around the world, including in the United States.
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