When approaching the latter part of life, it is easy to get caught up in achieving every goal on your bucket list. Individual lists vary widely, but often are filled with wild adventures like skydiving and scuba diving in the Great Barrier Reef. Bucket list items are the things one plans to do their entire life once they have the time and money to do it.
Unfortunately, accomplishing all the items on a bucket list often does not go as planned. Whether it is an illness that gets in the way, a lack of finances, or not enough time, people often give up on their bucket lists—despite how they might dwell on what they missed out on.1
Why Bucket Lists Are Often Unattainable
As movies and books would have people believe, completing your bucket list is as simple as creating one and setting off one adventure at a time. But that vision is unrealistic. Many people fail to complete their bucket lists because the goals are simply unattainable, or there is too much to be done to fit in with their finances or available time. Typical bucket list items require high costs for the activity and peripheral costs such as travel. Another reason a bucket list may fail is that the items are not essential spending in the same way that food and housing are, and so they may get pushed off.
How to Re-think Your Bucket List
Re-thinking your bucket list is easy and will likely make it more attainable in the end. The few tips below will help you to create a bucket list that may better fit in with your needs and means.2
· Focus on what you care about: Forget about traditional bucket list items and instead focus on items that you genuinely care about. This will keep you interested and make their completion more fulfilling in the end.
· Prioritize: There is a good chance that you will be unable to complete everything on your list, so prioritize it with the items most important to you at the top.
· Don't forget your loved ones: One of the biggest regrets for many is not spending the time they wanted to with their loved ones, so why not make it a priority to include them in the events on your list? You will be creating unforgettable memories for both you and them in the process.
· Stay within your means: Don't add items to your list that may lead you into financial hardship. If you attain your list and end up struggling to survive for your later years, you may find yourself stressed and depressed.
Start on the path to a bucket list that will provide you with the fulfillment you are seeking in your later years by re-thinking what a bucket list means to you. Looking for guidance on how to financially pursue your goals in later life? Reach out to your financial professional for help.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
All information is believed to be from reliable sources; however LPL Financial makes no representation as to its completeness or accuracy.
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