Financial Wellness High on Boomer Bucket Lists

95 percent of surveyed Americans revealed that they have some kind of list of financial goals and other experiences they wish to have before passing on, otherwise known as a “bucket list.” 66 percent of respondents have something on that list that they plan to accomplish within the next year of their lives, and 21 percent say that their list evolves in some way at least once a month. This is according to a survey of 2,000 respondents consisting of both baby boomers and millennials, conducted by Provision Living Senior Communities.

The biggest influencing factor in a person choosing to start a bucket list was reaching a certain age, based on 38 percent of the respondent pool. Media was the second most influential factor to starting a bucket list at 12 percent, followed by a person having recently gone on a trip at 11 percent.

In terms of financial goals on a bucket list, the most popular respective goals are paying off debt, paying off a mortgage, early retirement, saving for a child’s tuition, giving to a charity and buying a home. Boomers are willing to save a little more than millennials on the specific intent of paying for a bucket list item, with boomers willing to put away $3,204 compared with millennials’ willingness to save $2,959.

Of those surveyed, 77 percent of people say that their lists include some kind of travel-related goal. 71 percent of respondents also shared that their lists include goals related to finance and personal development, respectively, while a family-related endeavor was also a prominent feature of bucket lists according to 67 percent of respondents.

Regarding individual goals that commonly appear on bucket lists, Provision revealed that the three most popular recurring goals were skydiving, winning the lottery, and having children, in no particular order. Among the least desired experiences are getting arrested, breaking a minor law and trying out online dating.

There are a total of 8 average travel destinations on a typical bucket list, with the most popular countries being Australia, Italy, Ireland, Japan and the United Kingdom, respectively. In terms of American cities, the most popular respective destinations are Honolulu, New York, Las Vegas, Anchorage and San Francisco.

Visit Provision Living’s survey results page for more.

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