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vacationRegardless of whether you are approaching retirement after several decades of hard work or simply have more time to spare since your children left home, a lot can be said for having a hobby later in life. While most people pursue something they are interested in or passionate about, others look to express their creativity, improve their health, or enhance their financial situation.

Here are five options you might like to consider…

Financial trading

According to a new survey, more than two million workers are disappointed and worried about the performance of their pension fund savings. Therefore, if you want to give your nest egg a timely boost, you should think about opening a forex or CFD trading account and entering the world of financial markets.

Even though forex is the largest financial market in the world, its also one of the most volatile and requires a solid grasp of how currency fluctuations work. For this reason, CFD (Contract For Difference) trading might be a better option, as you only have to put down a small deposit for a much larger market exposure. If you know what you’re doing – and have the time to study your decisions carefully – then you can make your money go further.

Learn a musical instrument

Even if you don’t have a musical bone in your body; learning an instrument is often more about perseverance, perception and confidence than raw talent. In fact, playing a musical instrument can also benefit your professional life if you are still working, as Panos Panay, Corporate Vice President of Microsoft Devices, explains:

“Learning how to play a musical instrument and becoming a musician is an exercise in developing good listening skills, experimenting, overcoming repeated failure, self-discipline, and successful collaboration.”

Go travelling

A survey by Age UK states that travel is the most popular aspiration for those in later life, especially among those aged 50 to 59. From weekend city breaks in Europe to month-long cruises around the Caribbean, you can choose the experiences that suit your preferences and personality.

Without any work or family commitments, you have got the flexibility to go travelling whenever you want. Also, as opposed to backpacking in your youth, you’ve probably got more disposable income for taking full advantage of every destination.

Volunteering

As soon as you stop working, you’ll lose the sense of community that comes with it. This can be replaced by volunteering for a good cause or something that’s close to your heart. Just like learning a musical instrument, it can also be beneficial during your final few years of work too.

“Anything that provides you with a real cognitive shift in how you see the world, that’s going to be an asset in terms of your overall health and wellbeing, and also how you solve problems, whether it’s in personal relationships or in a work environment,” says Dr. Kevin Eschleman, an assistant psychology professor at San Francisco State University.

Gardening

There’s a reason why gardening is so popular among retirees and the older generation – it’s a fantastic form of exercise, takes place in the great outdoors, and can provide you with fruit, vegetables, and flowers.

On top of that, gardening has been known to reduce levels of cortisol (stress hormone) and incidences of dementia by 36 per cent. The sight of your hard work coming to fruition is also extremely satisfying.

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