It’s difficult to imagine retirement when you’re just starting out in your career.

Our research has shown that retirees are travelling more, taking up new hobbies, socialising with friends and just generally having a good time. But this new lifestyle doesn’t come cheap, and retirees will have worked hard and saved through their lives.

We spoke to Stephen, a recent retiree and one of our customers, who spent the first part of his retirement travelling the world, about how he saved and planned for retirement.

Tell us a little bit about your retirement…

“I love being retired and have tried to not waste a moment of it. I’ve always dreamt about travelling the world, so it was the first thing I did when I left work… I went all over North America, New Zealand and Australia, but my favourites places were Boston and Disney World – you really are never too old for the magic of Disney!

“When I’m at home I stay active by playing golf once or twice a week, and I enjoy hosting and attending dinner parties with all of my friends. My social life has thrived since retiring!  

Do you have any advice for the younger generation saving for retirement?

“Saving for retirement is hard with the cost of living so high, but it’s really important to put a little bit away every month to build your nest egg so you can enjoy yourself in retirement and get through your bucket list.

Why is retirement ‘worth it’ to you?

“We had to live somewhat frugally when I was younger and I waited until I was in my 50’s to travel abroad, spending most of our holidays in Blackpool. I’m now reaping the rewards… You may say it’s a long time coming, but the best things in life are worth waiting for. I love how retirement gives you the freedom to do what you want, when you want.

“Retirement probably seems a long way off now, but you’ll be glad you saved when you were younger, as your holidays and shopping trips will be much more lavish in retirement… Worth the wait and worth every penny.”