Not something I think about at this stage. In nz retirement age is 65 but you can continue working after that if you are able, though it will be more part time work or voluntary work.
The lump sum or access to funds you'll receive from your savings is up to you to spend how you want, a lot of people here sell their homes and go live in retirement villages and then travel etc.
I have worked in a few retirement villages, those or generally for richer people who dont need or want to look after grandchildren (because otherwise they might live with them in a granny flat or something) but as they come into health issues and need looking after themselves, they eventually need to move somewhere else where they can have more care, or as what happens a lot of the time they drop dead and the ambulance carries them out.
Im just being blunt as thats what happens. When the flag is at half mast you know someone had died.
I think for health and wellbeing its good if you have a hobby to carry on with. for a lot of oldies this is gardening, but if you come to it too late in life you may not be able to handle it.
Other retirement hobbies include knitting, bowls, group walking, woodwork (making coffins/caskets!) zumba...trainspotting or model trains, teaching Bible,
I would not recommend buying a bigger house or gas guzzling show off car, though many do buy an RV and go places. Im not sure what my former school principal did when she retired we asked her and she said she didnt have big plans, the plans would have just been to enjoy life I suppose and not have to worry about going to school ...time to visit and catch up with family, spend time with them. She did tell me she had a garden so I think she may be doing that.
I know one teacher retired and she moved to be with her family, she had an autstic son to look after so I dont think that everyone is ever entirely free of their responsiblities and family obligations. Unless they have abandoned and disowned their own family of course or kicked their children out which some sadly do. Lots of estranged families who dont care about each other and dont see each other.
But there are others that remain close, while others hate their families and prefer to live apart, in apartments they can lock up and leave. I talk with all kinds of oldies and you often never really know their family situation that influences the choice they make and where they live. Widows sometimes flat together like the Golden Girls
