Life begins at 50. Keeping busy. Rewarding experience

Transcription

1 Life begins at 50 Keeping busy Rewarding experience

2 Contents Life begins at 50 Introduction 2 Key Findings 3 Keeping Busy by Professor Kaarin Anstey, Ageing Research Unit, Centre for Mental Health Research, (College of Medicine, Biology, & Environment) Australian National University 7 Contact 9

3 Introduction Although it may be a way off for some, retirement is something that most of us look forward to. Beyond the obligatory financial planning, though, many fail to prepare for it. Transitioning from work to retirement involves a major shift in lifestyle, and in fact many people will now spend as much time in retirement as they did in the work force. That is a lot of time to fill, and for many of us, pottering in the garden or heading to the bowls club for 30 years is not enough. As a leading insurance provider for over 50s, we have spent the last 25 years speaking with and listening to you, and helping you protect the things that are precious to you. Over this time we have built a good picture of how Australians over 50 are living life, but we wanted to know how that might change in the future. Keeping Busy, the second in the Life Begins at 50 reports, focuses on how Australians will be using the extra time they have, and how they intend to remain healthy, active and productive in the future. Baby boomers, those now aged between 50 and 68, have a very different idea of what their life will look like than their parents. They are focused on maintaining a healthy lifestyle, something they have worked hard on for most of their life. Infrastructure catering for older Australians will need to be expanded and improved, with massive growth in these areas predicted. Of course, enjoying retirement requires financial resources, something that for most of us are in limited supply and under constant pressure. The first of the Life Begins at 50 reports, The Big Issues looks at this topic in great detail, so if you missed it, please visit to download a copy. The next and final report in this series, A New Lifestyle, will look at how Australians are transitioning from work to retirement and the impacts that will have on their lives and society as a whole. We hope you find these reports both interesting and useful, and please get in touch if you would like to see any other topics covered in future editions. 2

4 Key Findings Life Begins at 50: Keeping Busy focuses on how Australians over 50 plan to spend their time both before and during retirement. Travel is important to many of us, but more than that, staying actively engaged in the community, staying healthy and continuing to learn is increasingly a focus. Government, business and charities all have massive opportunities and challenges ahead, thanks to the changing nature and intentions of Australia s growing over 50 population. More than three-quarters of Australians aged over 50 are currently involved in an organisation such as a community group, sports team and club or book club, and that number only increases as we get older. Maintaining health and remaining active and engaged rank highly in terms of the types of clubs and organisations over 50s are either members of or plan on joining. 3

5 Key Findings Key Findings: Volunteering Three-quarters of over 50s state that they plan on volunteering during retirement. The innovative and entrepreneurial nature of this group of Australians means we should see some exciting changes in this area. Baby boomers are amongst the most generous with their time, with four out of five Australians aged over 50 planning to volunteer. Over 50s involvement: The number of over 50s that are currently involved in a club or organisation The types of clubs that over 50s are involved in: Charity or volunteering organisation Other community group 31% 43% 76% Local sporting team or club 29% Gym or fitness group 21% Music, dance or theatre 18% 43% of over 50s are involved in a charity or volunteering organisation Book club Local council or government 11% 10% Australians aged over 50 say that: They are worried about being lonely during retirement They are concerned about maintaining their connections and staying active in their community They plan to spend some time volunteering when they are retired They believe volunteering is an important way to give back to the community 30% 79% 76% 95% 4

6 Key Findings Key Findings: Education Nearly all over 50s think it is important to keep learning new things no matter how old we are. One in five over 50s don t think there are enough education opportunities available to their age group, but more than 90% are interested in taking a course or class in the future. Courses in technology, history, foreign culture, arts and craft and cooking are the most popular choices over 50s would like to take in the future. Nearly a quarter of over 50s are interested in learning more about traditional or alternative medicine, indicating a greater interest in maintaining a healthy lifestyle. Australians aged over 50 say that: They think it is important to keep learning new things They are interested in taking an educational class/course in the future They think there are enough education opportunities available for the over 50s Continuing education will form an important part of their retirement activities Educational classes and courses that Australians aged over 50 would be interested in taking during retirement: Computing 64% 61% 59% 96% 92% History or foreign cultures 48% Art or craft 43% Cooking 43% Another language 36% Photography 36% Other 29% Writing/creative writing 28% 92% are interested in taking an educational class or course in the future Traditional or alternative medicine Finance, accounting, business 23% 20% 5

7 Key Findings Key Findings: Travel More than three quarters of over 50s say that travel and holidays are important to them, and 70% have actually compiled a list of places they d like to visit during retirement. Australian over 50s are keen to explore the wild nature of their country, but conscious of the cost of travelling. 60% say they are interested in an outback holiday, compared to only 37% interested in a luxury holiday. Tasmania, the Northern Territory and Queensland are the preferred destinations for Australians over 50 who plan on travelling in Australia. When it comes to travel, over 50s said that: Travel and holidays are very important to them They have a bucket list of places or sites they would like to visit during retirement The types of holidays that over 50s would like to take: Overseas holidays Driving holidays Beach holidays Outback holidays Cruises City-based holidays Caravaning around Australia Luxury resorts Camping 37% 34% 46% 44% 41% 78% 70% 68% 66% 61% 60% Back-packing 9% Nearly 7 out of 10 Australians over 50 want to travel overseas, and one in ten want to go back-packing Where over 50s would like to travel to within Australia: Canberra 1% Barossa Valley 2% Gold Coast or Sunshine Coast 3% Perth 6% Margaret River 6% Great Ocean Road or coastal Victoria 6% Great Barrier Reef 6% Uluru 8% Far North QLD 9% Hunter Valley 1% Yarra Valley 1% Tasmania 17% Broome 15% Kakadu 14% 6

8 Keeping Busy By Professor Kaarin Anstey, Ageing Research Unit, Centre for Mental Health Research, (College of Medicine, Biology, & Environment) Australian National University Keeping busy in ways that challenge the mind and body is an important key to ageing well. There is increasing scientific evidence that our lifestyle can shape and promote our physical and mental ageing. We now know that the brain retains its plasticity in later life. That is, your brain can continue to grow and develop new nerve cells well into adulthood and even old age. Being... faced with an ever increasing proportion of aged in Australian society, there is a need to develop opportunities for older adults to engage in formal and informal education, cultural and social events... physically and mentally active, by involving oneself in stimulating activities, such as learning a new language, playing challenging games and continuous learning and cultural engagement, are all beneficial for brain ageing. In fact, large long running studies have shown that adults who remain engaged in cultural and intellectual pursuits have a reduced risk of dementia. Clearly, with this in mind and faced with an ever increasing proportion of aged in Australian society, there is a need to develop opportunities for older adults to engage in formal and informal education, cultural and social events and develop meaningful and mentally complex roles either as volunteers or flexible employment. Support from governments at all levels may do well to utilise these types of services to engage with and support older adults. It is clear from the findings of Apia s Life Begins at 50 research that older Australians are keen to remain actively engaged in community and learning activities. These trends provide many opportunities for the development of products and services to provide older adults with courses and leisure activities. Increasingly, the internet is integral to the planning and conduct of such activities and technology needs to ensure inclusion of individuals with physical and geographical 7

9 limitations. Already government services utilise information technology to address lack of access issues for a large number of Australians. For example, government service information is provided in a range of languages, which is particularly important for Australians with limited English language capacity. Also it is an avenue to address the needs of those who may suffer sensory loss in old age, such as failing vision or hearing. These services need to be continually supported and developed to meet service demand. As older Australians leave paid employment, volunteering provides individuals with a sense of purpose and offers opportunities to replace social relationships that work once provided. Also, volunteering provides one means by which older adults may contribute their knowledge and practical expertise to the community. However, research does suggest that for some, very high levels of volunteering may have negative effects on mental health. It is possible that being involved in too much volunteering activities results in comparable levels of stress and pressures as work-life in the paid employment market. Hence achieving a balance and range of leisure activities in retirement is optimal for one s health. For individuals to age well, keeping busy must include appropriate physical activity that builds strength, flexibility and cardiovascular fitness. Travel also provides older adults the opportunity to keep busy and to connect and engage with others. The mental stimulation of new environments and the associated physical and social activity that travel encompasses provides an important avenue for improving one s quality of life. However, opportunities for travel will be restricted to one s travel preferences, financial constraints and personal needs. For individuals to age well, keeping busy must include appropriate physical activity that builds strength, flexibility and cardiovascular fitness. Increasingly, stereotypes about gyms being the precinct of the young are being replaced and classes are being designed to appeal to a wider range of skills and ages. Inactivity can lead to muscle atrophy, increased stiffness and increased risk of chronic disease. However, older adults can expect to maintain good physical function if they maintain exercise routines. 8

10 Main Findings About Apia Apia is one of Australia s leading insurance providers in the over 50s market, forming part of the Suncorp Group. Apia s story began 25 years ago and 2011 marks this milestone anniversary. Apia has the same goal as when it first began: to provide the best possible insurance products and service to the over 50s. This is part of the reason why we re the most recommended insurance company in Australia three years running*. Our focus has and will continue to be you, the customer. Our goal is to continue to provide high quality insurance products with real personal service to the over 50s market in Australia. This winning combination of service and excellent insurance products has meant Apia now has more than 700,000 customers across Australia serviced by our network of branches and over 450 staff. About the Life Begins at 50 research Apia s research is based on an independent telephone survey conducted by Newspoll of 2,060 Australians aged 50 years and over across all States and Territories between March and April Collected data is carefully weighted in line with current ABS population demographics to ensure any extrapolation of results is representative of age, gender and population on a regional, state and national basis. Contact us Visit Apia online at You can call us any time, 24 hours a day, 7 days a week: *Source: 2011 Engaged Marketing Recommendation & Loyalty Study. For more information on Suncorp, visit