Whether your retirement is early, late, or right on time, it’s an occasion that marks the beginning of a new phase of your life.
With a rise in the number of people retiring following the pandemic, asset disposal specialist BPI Auctions has surveyed UK business owners to see just how they plan to spend their retirement ahead of 2023.
According to BPI Auctions, the ultimate retirement bucket list for 2023 are:
- Live carefree without having to worry about bills (55%)
- Travel the world (or dream destination) (48%)
- Grow vegetables / start an allotment (20%)
- Go travelling in a camper van (18%)
- Move abroad permanently (16%)
- Spend more time with the grandchildren (15%)
- Fly first class (13%)
- Renovate your dream house (12%)
- Rescue a shelter dog or cat (11%)
- Take an unplanned flight (8%)
Amidst the cost-of-living crisis, the research revealed that over half (55%) of business owners simply want to live carefree without having to worry about bills or being able to afford “treats” in the future. With prices for many essential goods increasing faster than household incomes since 2021, it is no surprise that pre-retirees are worried about their financial future.
However, travelling the world or to a dream destination wasn’t far behind, with just under half of business owners still planning to jet off either alone or with a companion (48%) in 2023. Over one in six (16%) also admitted that they’d love to up and leave the UK permanently to migrate abroad.
Travel tends to be a hot topic among pre-retirees, with almost one in five (18%) business owners wanting to travel from location to location in a camper van, one in seven (13%) wanting to fly first class and one in 12 (8%) with the dream to take an unplanned flight now that travel restrictions have eased following the pandemic.
Following multiple lockdowns during the pandemic, business owners are feeling more family-orientated, with one in six (15%) planning to spend more time with their grandchildren.
Henry Spencer, chief operating officer at BPI Auctions, said: “The pandemic followed by the cost-of-living crisis has undoubtedly put several spanners in the works for retirement plans, but things like this can often lead to new dreams and goals.
“If you’re planning for retirement and are looking for ways to increase your income, asset disposal is an effective method for raising capital for retirement.”