While the old saying suggests that “life begins at 40”, if you are in your mid 50s then you’d probably beg to differ – at least according to a recent report.
Research by Royal London has found that those aged 55 and over intend to “live life to the full” when they return to a post-pandemic world. If you are one of them, you probably intend to travel more and tick items off your bucket list as soon as you can.
Nearly two-thirds (64%) of respondents told researchers that they wanted to travel more for recreational purposes post-lockdown compared to before Covid, with nearly four out of five saying they plan to see family more often.
Read on to discover the top bucket list activities and how a financial planner could help you complete your goals while maintaining financial peace of mind.
Seeing the Northern Lights was top of the bucket list items
If you want to travel on the Orient Express or visit one of the Seven Wonders of the World, then you’re not alone.
According to Royal London, 42% of people have a journey on the famous train on their bucket list, with 36% saying they want to visit one of the Seven Wonders. While these scored highly, neither were the most popular entry on people’s bucket lists.
As the following table shows, that honour goes to seeing the Northern Lights, with 53% of people saying it was something they really wanted to do.
While the activities are important, more than half (52%) of respondents said spending time with loved ones was the secret to happiness.
One-third of over 55s said they have yet to achieve their lifelong goals
Like the 43% of those asked who said they would regret not completing their bucket list, you may find commitments or time constraints are the biggest block to completing yours. As the below table shows, these factors prevented 37.2% of respondents from fulfilling their bucket list goals.
Having a financial strategy could help you complete your bucket list
If finances, not time, have stopped you from ticking off your bucket list goals, then a financial planner may be able to help.
Working with a financial planner can help you create a roadmap that could help you afford to complete your ambitions. By helping you ensure you are as tax-efficient as possible and providing ways to potentially grow your wealth, you could improve your chances of completing your “must do” activities.
In addition, a financial planner can also ensure achieving your bucket list does not leave you financially vulnerable later in life. By helping you make sure your expenditure is sustainable, you will enjoy peace of mind while enjoying your bucket list, safe in the knowledge that living life to the full today is less likely to result in financial insecurity tomorrow.
Get in touch
If you would like to discuss ways to fund your bucket list or create a strategy for your retirement that could help you complete your ambitions, please email hello@ardentuk.com or call us on 01904 655 330.
Please note
This article is for information only. Please do not act based on anything you might read in this article. All contents are based on our understanding of HMRC legislation, which is subject to change.
