by Shanique Yates
August 28, 2024
As boomers look forward to their golden years, many are redefining retirement by using it as an opportunity to live their best lives.
As boomers reach retirement age, they aren’t holding back when it comes to living their best lives, according to a new study. The study discloses that the group is reinventing their lives as they enter their golden years.
According to Newsweek, a new survey orchestrated by IHG Hotels & Resorts revealed that over a quarter of retirees live lives that their younger selves would be proud of. The survey, conducted by Talker Research, included 2,000 Americans who have either retired or will retire between 2020 and 2029.
“It’s incredible to see how many people are taking advantage of their retirement to enjoy things they didn’t have time for in their working years,” said IHG Hotels & Resorts Vice President of Masterbrand Connor Smith. “The reality is people put their careers and families first. So, in their retirement era, it’s inspiring to see them living their best lives.”
The survey revealed that those currently in their golden years and those approaching retirement are looking forward to traveling, picking up hobbies, and dating.
Roughly one in six people aim to find love during this period and even plan to allot more time to date to “find the one.” Others have picked up old hobbies or started new ones, with 76% of the people surveyed sharing that they’ve picked up skills such as gardening, cooking, and reading—all top-choice hobbies, according to the survey.
“One of people’s biggest fears when heading into retirement is being bored,” said Smith. “But now we’re seeing that retirees have countless ideas on how to make the most of their hard-earned time. Whether that’s traveling, starting a side hustle, or picking up a hobby, retirement can be an opportunity for adventure and reinvention, and anything but boring.”
According to the survey results, three-quarters of respondents have trips planned within the next 12 months to celebrate their retirement. Key destinations include 59% of the participants revealing that they plan to travel within the States, another 31% have plans to travel to Europe, and 23% will visit a North American locale outside the U.S.
Despite the reinvention for most retirees, economic concerns still loom. As previously reported by BLACK ENTERPRISE, another study conducted by Employee Benefit Research revealed issues with saving as they look ahead to their golden years.
”Half of people don’t have retirement accounts at work. And that’s been true for decades. So it’s not getting any better,” Teresa Ghilarducci, professor at the New School for Social Research in New York, told TheStreet.
Another study, conducted by Harris Poll on behalf of NerdWallet between July 11 and 15, surveyed 2,096 Americans. It revealed that 31% of Americans disclosed not having a retirement account to draw from when they depart from the workforce. Additionally, 3 in 10 Americans will rely on Social Security benefits to support themselves during retirement, despite ongoing changes with the program that can mean less funding for retirees in the near future.
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