What are the top 10 things people do when they retire?

Top retirement activities focus on maximizing leisure, health, and personal fulfillment through travel, volunteering, hobbies like gardening or photography, and spending time with family. Many also pursue lifelong learning, part-time work, or fitness goals to stay active and mentally engaged.

What are the top 10 things to do when you retire?

The top things to do in retirement focus on fulfillment, health, and new experiences, including creating a bucket list, prioritizing physical and mental well-being (exercise, new hobbies), connecting with loved ones, volunteering for purpose, traveling, learning new skills (language, instrument), staying socially active (clubs, classes), exploring creative outlets (art, writing, gardening), and even working part-time or starting a small business if desired, all while establishing a new, balanced routine.
 

What do most people do after they retire?

Most people in retirement focus on staying active, engaged, and purposeful, balancing leisure with meaningful activities like pursuing hobbies (gardening, art, reading), volunteering, mentoring, spending time with family, traveling, learning new things (languages, instruments), and prioritizing health through exercise, leading to a mix of relaxation and structured, enjoyable days.
 

What is the 10 rule for retirement?

The 10% rule of investing states that you must save 10% of your income in order to maintain a comfortable lifestyle during retirement. This strategy, of course, isn't meant for everyone as it doesn't account for age, needs, lifestyle, and location.

How many Americans have $500,000 in retirement savings?

While exact, real-time numbers vary, recent data suggests around 9% to 19% of American households have $500,000 or more in retirement savings, with some sources noting roughly 7% have $500k+, while others show about 9% exceed $500k, and some figures for "liquid investable assets" reach 19% having $500k+. For older age groups (55-64, 65-74), averages are higher, with many in their 60s hitting around $500k-$600k, though median savings are often lower, showing a wide disparity in wealth. 

The BEST Retirement Advice EVER From Retirees + MORE FUN!

What is the average 401k balance for a 65 year old?

For a 65-year-old, the average 401(k) balance is around $299,000, but the more representative median balance is significantly lower, at about $95,000, indicating many high savers pull the average up, with balances varying greatly by individual savings habits, income, and other retirement accounts. 

What is the $27.40 rule?

The $27.40 Rule is a personal finance strategy to save $10,000 in one year by consistently setting aside $27.40 every single day ($27.40 x 365 days = $10,001). It's a simple way to reach a large financial goal by breaking it down into small, manageable daily habits, making saving feel less intimidating and more achievable by cutting small, unnecessary expenses like daily coffees or lunches.
 

What is the number one mistake retirees make?

The top ten financial mistakes most people make after retirement are:

• 1) Not Changing Lifestyle After Retirement. ...
• 2) Failing to Move to More Conservative Investments. ...
• 3) Applying for Social Security Too Early. ...
• 4) Spending Too Much Money Too Soon. ...
• 5) Failure To Be Aware Of Frauds and Scams. ...
• 6) Cashing Out Pension Too Soon.

What is considered a good monthly retirement income?

A good monthly retirement income is often considered 70-80% of your pre-retirement income, but it truly depends on your lifestyle, location, and expenses, with benchmarks ranging from $4,000-$8,000+ monthly for a comfortable life, factoring in needs like housing, healthcare, and travel. Financial planners suggest calculating your specific "income gap" by subtracting guaranteed income (like Social Security) from your estimated needs to see what you need from savings. 

What is the $27.39 rule?

The $27.40 rule is a simple way to think about how to save $10,000 in a year. It suggests saving $27.50 of your income daily, which adds up to $10K annually ($27.40 x 365 days = $10,001).

What do the happiest retirees do?

SunLife's 2025 Life Well Spent report, which surveyed more than 2,000 adults age 50 and older, found that the happiest retirees spend 43 more minutes per week in nature and significantly less time watching TV than unhappy retirees. (Image credit: SunLife, Life Well Spent Happiness Report, 2025.)

How do I stop boredom in retirement?

Plan what you want to do before you retire

Terry offered this simple but powerful advice: “If you have nothing to do, keep working. Otherwise, you'll be bored.” Planning retirement is NOT just about your finances—it's about knowing how you'll spend your time.

What is the average life expectancy after retirement?

People retiring today, especially at age 65, can generally expect to live into their early to mid-80s, with many living longer, often to 90 or beyond, depending on gender and health; for example, a 65-year-old woman might live to 86, while a man might live to 83, with half of both living even longer, but factors like lifestyle (exercise, diet) and genetics greatly influence individual longevity, with a growing number of centenarians. 

What do most retired people do all day?

Retired people fill their days with a wide variety of activities, often focusing on leisure, personal interests, and social connections, including hobbies (gardening, reading, art, music, puzzles), physical activities (walking, cycling, yoga), learning (online courses, languages), volunteering, spending time with family (grandkids), home/DIY projects, travel, and sometimes part-time work, aiming to stay active and engaged without the structure of a job. 

What is the $1000 a month rule for retirement?

The $1,000 a month retirement rule is a simple guideline stating you need about $240,000 saved for every $1,000 of monthly income you want from your investments in retirement, based on a 5% annual withdrawal rate ($240k x 0.05 / 12 = $1k/month). It's a motivational tool to estimate savings goals (e.g., $3,000/month needs $720k), but it's one-dimensional, doesn't account for inflation, taxes, or other income like Social Security, and assumes steady 5% returns, making a personalized plan essential. 

What are common regrets after retiring?

Not Saving Enough

If there's one regret that rises above all others, it's this: not saving enough. In fact, a study from the Transamerica Center for Retirement Studies shows that 78% of retirees wish they had saved more.

Is $5000 a month a good retirement income?

With $5,000 per month in retirement, you can afford to live in many locations, coast to coast and beyond. As long as you pay close attention to your savings and stick to a reasonable budget, you can turn that $5,000 monthly retirement budget into a dream lifestyle for your golden years.

What is the best age to retire?

“Most studies suggest that people who retire between the ages of 64 and 66 often strike a balance between good physical health and having the freedom to enjoy retirement,” she says. “This period generally comes before the sharp rise in health issues which people see in their late 70s.

What is the 7% rule for retirement?

The 7% rule for retirement is a guideline suggesting you can withdraw 7% of your portfolio in the first year and adjust for inflation annually, offering more income early on but carrying higher risk than the standard 4% rule, potentially depleting savings faster, especially with market downturns or longer life expectancies. While it provides immediate higher income, it's less formally studied than the 4% rule and suits those with higher risk tolerance, early retirements, or shorter retirement plans. 

What are the 3 R's of retirement?

The Three R's of Retirement: Resiliency, Resourcefulness & the Renaissance Spirit.

How many people have $500,000 in their retirement account?

While exact numbers vary by source and year, recent data suggests around 7-9% of American households have $500,000 or more in retirement savings, though many more have significant savings in the $100k-$500k range, with a large portion of the population having much less, highlighting a big gap between the average (which is higher due to wealthy individuals) and the median (typical) saver. 

What is the golden rule for retirement?

The gist is that ideally you would spend 4% of your retirement portfolio each year in retirement, adjusted for inflation. For example, if you retired with $1 million in savings, you'd withdraw $40,000 the first year and a bit more each successive year, based on the inflation rate.

What if I save $5 dollars a day for 40 years?

If you save and invest $5 a day for the next 40 years at a 10% return rate, you'll have $948,611! That's a nice chunk of change. This scenario sounds like a no-brainer, yet many students put off saving for their future so they can have more money to spend today.

How many Americans have $100,000 in savings?

While exact figures vary by definition (savings vs. retirement assets) and source, roughly 12-22% of American households have over $100,000 in checking and savings, while around 14-22% have $100,000 or more in retirement accounts, with significantly higher percentages for older age groups (especially 55-64 and 65+). Many sources show that a large portion of Americans (around 80%) have less than $100,000 saved overall, highlighting a significant savings gap. 

How to turn $10,000 into $100,000 in a year?

Turning $10k into $100k in one year requires aggressive strategies like starting a high-growth business (e-commerce, online courses, digital products), flipping assets (websites, retail arbitrage), investing in high-potential stocks/crypto (high risk), or significantly increasing income through skills development, as traditional investing takes decades. The key is generating substantial income beyond initial capital, focusing on scalable models, or finding undervalued assets to quickly increase value.