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The Adventure Gap The Rise of the Boomerang Adventurer

4 days ago

The UKs over50s 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 theyre making up for lost time Nearly a quarter 23 per cent of over50s describe themselves as risktakers 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 over50s risktakers 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 hasnt 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 over50s 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 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 longterm 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 This lack of preparation may be linked to the tendency of many over50s 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 Offices Paul Paddock said Its fantastic to see the over50s embracing new experiences and reseeking 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

Donna Lincoln

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