4 Stages of Retirement Leisure

What stage of Retirement Leisure are you at? A recent retirement study conducted by Merrill Lynch and Age Wave (a research firm specializing in aging), has outlined the

4 Stages of Retirement Leisure

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According to Age Wave CEO and Leisure in Retirement: Beyond the Bucket List author Ken Dychtwald, these 4 stages in retirement leisure are:

Stage 1: Winding Down and Gearing Up (less than five years from retirement) – Leisure travel in pre-retirement is about getting away from it all and recharging your batteries.

Stage 2: Liberation & Self Discovery (less than two years into retirement) – 47% of recent retirees felt guilty about not using leisure productively. At this stage, a lot of retirees are looking for adventures such as biking or hiking, new learning, personal growth, and trips that combine these elements, along with home sharing.

Stage 3: Greater Freedom & New Choices (three to 15 years into retirement) – Enjoyment of leisure time grows, and spending on leisure travel rises, along with interest in “experiences” as retirees move into their senior citizen years.

Stage 4: Contentment & Accommodation (more than 15 years into retirement) – Leisure time is now more about relaxing or connecting with family and friends. Health, caregiving and financial issues later in life for “senior seniors” may have a greater impact and reduce the “fun” time.

Having some awareness of and planning for each stage of your retirement leisure should be an important element of any retirement planning exercise.

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