How Americans are Reinventing Retirement
A recent survey of 2,000 American retirees or those planning to retire before 2029 reveals that many are living lives their younger selves would envy. The concept of “retirement reinvention” is popular, with 60% of respondents either planning or already embracing a new, vibrant version of themselves. Over 25% believe their younger selves would “love” their current life.
Retirees are rediscovering old hobbies, learning new skills, and exploring activities like sports, writing, or learning a new language. Travel plays a significant role in this reinvention, with four in ten retirees taking or planning a “trip of a lifetime,” and 59% intending to travel more in retirement than they did during their working years. Financial constraints during their careers, such as budget limit and lack of job flexibility , have motivated many to prioritize travel now, with half cutting back in other budget areas to fund these adventures.
The survey highlighted top retirement travel destinations, with 59% favoring U.S. locations, 31% choosing Europe, and some even eyeing Antarctica. Along with travel, 78% of retirees are considering starting a side gig for extra income and to keep boredom at bay. Socially, 15% are seeking love in retirement, while 16% are planning solo adventures.
Connor Smith, a vice president at IHG Hotels & Resorts, notes that retirement is becoming a time for adventure, reinvention, and living life to the fullest, countering the fear of boredom that often accompanies the transition.