You've long said goodbye to the nine-to-five grind, the mortgage has been paid off and the kids have finally left the nest... What's next? If there's one thing retirement guarantees, it's time. Lots of it. And who wants to spend it entirely at home?
A study by insurer Apia found that 72 per cent of Australians over 50 would rather spend their money enjoying retirement, rather than leaving it to their kids. The ABS backs this up, with a study in 2013 finding older couples spend more money on recreation, despite higher medical and food costs.
If this sounds familiar, or even tempting, consider yourself part of the SKI set. Now, we don't mean powdery runs or going off piste, we're talking about Spending your Kids' Inheritance.
No longer is leaving a healthy inheritance to offspring a high priority. Putting yourself first is. There's perhaps no better self-indulgence than travel, an enriching reward for a lifetime of hard work.
Selling your house and downsizing to a caravan for the obligatory 'Grey Nomad' trip around Australia is one thing, but when it comes to 'SKIing', it's time to start ticking things off your bucket list. Here are our top five trips that your kids won't make you feel guilty about.
All-expenses Paid Family Holiday
Rather than bequeathing your family a fiscal fortune, leave them a legacy of memories. Use some of your life savings and treat your entire tribe – grandkids, partners and all – to an all-expenses-paid trip of a lifetime.
Whether you're marking a milestone with a tropical, sun-soaked sojourn around the Caribbean on a luxury cruise ship or spotting wildlife across the great plains of Africa, multi-generational holidays give everyone a chance to enjoy time away together.
And the best part? There's no need to feel guilty about spending your kids' inheritance when you're spending it on them!
Travelling to the ends of the earth is considered the pinnacle of bucket list experiences. So little is known about the icy, harsh land of Antarctica, many embark on a cruise from Patagonia to experience the most majestic, untouched wilderness left on Earth for themselves.
A place where Mother Nature reigns, vast stretches of glacial landscapes, powdery peaks and jagged icebergs play home to waddling penguins and seals. Free from typical tourist crowds, Antarctica is a special destination that bestows unforgettable memories upon all those who visit her desolate shores.
Learn more about multi-generational holidays
The world's best bucket list experiences
Often described as a living museum, visiting the remarkable Galapagos Islands is the one 'do before you die' trip. The flora and fauna of this enigmatic land are considered the most unique in the world, attributed to three ocean currents, volcanic activity and its geographic isolation, some 1,000 kilometres west from Ecuador. One for wildlife lovers, the archipelago is famous for its unique endemic animals and for the variations between specifies on different islands. A cruise is the classic way to discover the island group's unique terrain.
Uluru is usually reserved for the 'one day' mindset, though in this case, 'one day' is now 'today'. Australia's spiritual heartland is awash with tens of thousands of years of history, and there's nothing like seeing the red rock light up in fiery hues of crimson and even purples and blues at sunrise for the first time. You've never felt more Australian! Add to your experience with interpretive day tours, a stay at the ultra luxurious Longitude 131 resort and Sounds of Silence or Tali Wiru dining experiences.
Trace your ancestral roots
No doubt you've been the one spinning yarns at Christmas about your childhood, from royal roots to heroic war antics and regaling stories about great Aunt Ethel and all her quirks and charm. So why not take the opportunity to travel and really unearth your ancestral beginnings?
Navigate your way through the family tree or make that long overdue visit back to the homeland, whether you're connecting with long-lost relatives in an isolated village in Vietnam's north, or embarking on an emotional visit to Ireland or Scotland – staying in luxury accommodation, no less – as part of genealogical research.
If you take the time and money in your golden years, some of the best moments in life can come from retirement. After all, isn't that what you spent your whole life saving for?