More than 50% of those aged 65 or older often go out for meals, 45% regularly go out with friends and 28% often purchase new clothes for themselves, according to a new survey.
The independent study carried out for NEST also shows that 3% play in a music group and 62% go on vacation more than once a year, which is twice the 31% average for younger age groups.
Interestingly, a third of over-65s and those in care homes said they wanted to go on a short romantic holiday in future while 7% would consider chatting up a total stranger.
However, people of retirement age are also thriftier with money, as 48% said they stuck to a budget and 20% save when they can and never spend more than they need to - twice the 11% average for younger age groups.
Those under 24 years old are most likely to struggle with budgets by spending at the beginning of a month before scraping by for the rest of the month.
Also, people aged 25-34 are the most likely to say that they go over the top with their cash, possibly due to higher expendable income and fewer responsibilities.