You’ve spent the past few decades saving enough money to enjoy your retirement. You are in a position to do what you want on your own terms. But what does retirement look like for you? Do you plan to travel? Do you want to spend more time on your hobbies? Do you go to work?
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A recent report from the Transamerica Retirement Research Center analyzed what middle-class retirees plan to do in retirement. Here are the top three things middle-class Americans plan for in retirement.
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trip
According to a Transamerica report, 67% of middle-class Americans plan to spend time traveling in retirement. For some, traveling has always been a passion. But for others, it may feel like they’ve lost time to catch up.
According to fintech financial company Solbet, 62% of workers with paid leave did not use all of their days in 2023. What’s even more surprising is that 5.5% said they never took a day off. Most people are afraid of falling behind at work, and for them it is not worth taking a vacation.
However, after you retire, you may want to enjoy things you didn’t have time to do during your tenure.
“My wife and kids traveled occasionally, but not as much as I would have liked,” said Austin R., who recently retired from the Chicago area. “For the past 20 years I’ve had some pretty demanding jobs and found it difficult to be away from work for long periods of time. I’ve traveled a bit, but I’m looking forward to spending the next few years doing more. is.”
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Spend time with friends and family
While working, you are constantly interacting with co-workers. We’re talking about what’s happening at work and at home. And these conversations are proven to be beneficial for your health.
However, it is not uncommon for people to become less sociable once they retire. Maybe you go to bed a little later or watch a little too much Netflix. Whatever the cause, I was less able to have meaningful conversations.
This may be why so many people plan to spend more time with friends and family after retirement. According to Transamerica, 58% of the middle class report that they want to spend more time with friends and family in retirement.
They want to enjoy the company of those closest to them instead of letting the days pass by. It could be something as simple as having lunch with your adult children or spending an afternoon playing golf with a friend.
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Volunteer or work?
Some people don’t like the idea of spending their retirement at home. They enjoy going to work every day because it gives them purpose. For this reason, many retirees choose to volunteer or find another job. Usually this focuses more on what they enjoy doing than where their skills lie.
According to the report, 23% of middle-class retirees say they want to do volunteer work in retirement, and 25% plan to do paid work. Working or volunteering is a way to stay active and keep your brain healthy.
“I recently decided to work at a hardware store,” Austin said. “I have spent the last 40 years working and working toward a common goal. After the first few months of retirement, I immediately missed this. , it gave me flexibility because I wanted to do something that I enjoyed.”
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This article originally appeared on GOBankingRates.com: 3 Things Middle Class Americans Plan to Do in Retirement
