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The Adventure Gap: The Rise of the Boomerang Adventurer
The Adventure Gap: The Rise of the Boomerang Adventurer
The rise of golden years adventure has prompted new offerings within Post Office life insurance cover to ensure people have their future planned as well as their present
Over 50s are embracing travel
(Image: Getty Images )
The UK's over-50s are embracing adventure like never before, with new research revealing a quarter (25 per cent) consider themselves more adventurous in their 50s than they were in their 20s.
The rise of golden years adventure has prompted new offerings within Post Office life insurance cover to ensure people have their future planned as well as their present.
According to the new research from Post Office, 40 per cent regret not being more daring when they were younger. Now, they're making up for lost time. Nearly a quarter (23 per cent) of over-50s describe themselves as risk-takers, with men being 10 per cent more likely than women to hold this view (29 per cent v 19 per cent). Bristol tops the list with the highest proportion of over-50s risk-takers (30 per cent), followed by Southampton (28 per cent) and London (27 per cent).
The enthusiasm for new experiences is clear, one in five (17 per cent) of over 50s dream of travelling to North America, with Asia (14 per cent), Africa (9 per cent) and South America (9 per cent) next on the list. Seeing the Northern Lights (32 per cent) is first on the bucket list, followed by going on safari (16 per cent) and learning a new language (16 per cent).
However, the spirit of adventure hasn't always been easy to prioritise. Over half (56 per cent) of those polled have felt unable to be adventurous at certain points in their lives. The most common barriers stopping over-50s from pursuing adventure earlier in life included becoming a parent (27 per cent), suffering a health concern (20 per cent), and buying a house (17 per cent).
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Women have been disproportionately affected, with almost a third (32 per cent) saying parenthood put adventure on hold, almost 10 per cent more than men (22 per cent). The caregiving burden was also heavier on women, with nearly one in five women (19 per cent) feeling that their adventure was delayed due to caring for a family member, compared to just over one in 10 men (11 per cent).
50 marks a major milestone when people reclaim adventure. More than one in five (21 per cent) felt turning 50 allowed them to prioritise adventure again if they felt unable to focus on this at a previous point in their life.
However, while many focus on their immediate desires, like adventure, they often overlook the importance of long-term planning. Nearly eight in ten (79 per cent) have invested in home insurance, but fewer take steps to safeguard their future through life insurance, with just 39 per cent having life insurance in place.
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This lack of preparation may be linked to the tendency of many over-50s to avoid thinking about negative events in the future. Under half (49 percent) admit to steering clear of such thoughts, with a quarter of them (26 percent) taking it so far as to avoid the topic altogether with no financial plan in place for the future.
Post Office's Paul Paddock said: 'It's fantastic to see the over-50s embracing new experiences and re-seeking adventure. As with any new chapter preparation is key, and we urge everyone to research the different types of life insurance products that are available to them to ensure you have the right life and critical illness cover for you. Having the right life insurance in place means you can enjoy adventurous experiences, without unnecessary worry.'
For further guidance on the importance of life insurance, please visit Post Office life cover guides.
