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This Merrill Lynch study (done in partnership with Age Wave) is an interesting read:
Leisure in Retirement: Beyond the Bucket List
Here are some highlights:
Leisure in Retirement: Beyond the Bucket List
Here are some highlights:
Leisure in retirement is far different than leisure before retirement. While pre-retirees view free time as precious and scarce, retirees tell us that they are happy to break free of the pressures and constraints of full time work and 79% report that they now have the amount of free time they desire…and they like it....
While still in their working years, most individuals forge their identity through their work and parenting roles. However, with age, identity becomes far more about the leisure activities and interests retirees choose....
Contrary to stereotypes that portray youth as a time of psycho-social vitality and maturity as a period of emotional decline, our study reveals that lifetime emotional wellbeing actually peaks in retirement. Feelings of happiness, contentment, and relaxation soar, while anxiety seems to plummet....
Most retirees (95%) say they would prefer to have more enjoyable experiences rather than buy more things. In today’s retirement, there are two general types of leisure activities – each with its own priorities and preferred activities. In “everyday leisure,” most retirees want to de-stress and improve their health. In “special occasion leisure,” peak experiences, adventure, and fun top the list....
The 4 stages of retirement leisure
Stage 1: Winding Down & Gearing Up:
≤5 years before retirement
Not surprisingly, 74% say work is a barrier to them
having more fulfilling leisure and many feel stressed
because they are so busy.
Stage 2: Liberation & Self-Discovery:
<2 years into retirement
There’s an enormous sense of liberation and relief as
most (78%) feel they finally have enough free time.
Nearly all (92%) say retirement provides them with
the freedom to now do what they want—and on their
own terms ... 72% want to try new leisure activities
compared to doing things they’ve already done.
Stage 3: Greater Freedom & New Choices:
3-15 years into retirement
As retirees further separate from full time work and
gain comfort with their post-work selves, “be-ing”
increasingly replaces “do-ing” and fewer have feelings
of guilt when not using leisure productively.
Stage 4: Contentment & Accommodation:
>15 years into retirement
Compared to other stages, people are most likely to
prioritize simplifying their lives.
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