This is what retirement looks like now: travel, adventure and no regrets

While most of us would be happy with a nice birthday dinner with the family, Pam Lynch spent her 60th trekking to Everest Base Camp. Now 73, the indefatigable Pam has no plans to dial back her adventures, intending to spend this year's birthday snow tobogganing.

With nearly 4.5 million Australians aged 65 or more now retiring in better health and - often - with greater financial freedom, older adventurers have given up waiting for the "right" moment, trading armchairs for departure lounges.

Intrepid Travel's Erica Kritikides reports the company's bookings in the 55-plus age demographic jumped 52 per cent last year, while Collette, which runs small-group tours, says it's also seen a clear increase in bookings by older Australians.

But how are mature travellers funding their travels? Cutting back on expenses, such as dining out or impulse buys, for one thing, according to the Australian Seniors' Grey Gap Year 2025 report. And rather than squirrelling away their savings, they're "ski-ing" (spending the kids' inheritance), with nearly half believing creating travel memories is more important than leaving a financial inheritance, and more than 60 per cent reporting feeling comfortable using their retirement savings.

Melbourne-based Mark Jevremovic, 60, and his wife, Andrea, are making up for lost time after he took early retirement.

"When we were younger, we mainly travelled within Australia," Mark says. "Now we're at a stage of our life where our daughter is old enough to house and dog sit, and we have the time to go further."

As experiential spending replaces material spending, parents are choosing to travel with their kids and their kids' kids, with multigenerational travel one of the fastest-growing segments in tourism.

"We've certainly noticed a marked increase in the number of travellers aged 55 plus looking to travel with their children and grandchildren," says Sarah Higgins of World Expeditions.

"It's being driven by adventurous, curious clientele, who want their families to explore the world through their eyes and bring new insight to their own understanding of the world."

Bernice Watson, 60, and her son Angus, 24, travelled with her father, Chris, 84, to Norway, Ireland and Scotland.

"My father and my son have a lot in common," says Bernice. "They both love history, and Dad is very knowledgeable and was able to share so much with Angus. And for me, it was fascinating to get both a younger and older perspective on our travels."

The only age-related speed bump, Bernice says, was the driving.

"Because he was under 25, Angus couldn't drive the rental car without a huge premium, and Dad, at over 70, wasn't allowed to drive at all. So I had to do all the driving. That was a pretty minor inconvenience, though." While Bernice was initially a bit apprehensive about how they'd get on being together every day, she says they genuinely enjoyed the experience.

It's not the quiet corners and comfort zones of the travel world that older adventurers are necessarily seeking out.

"Older travellers are both deeply curious and discerning," says Erica. "They know what they want, and they're not interested in surface-level experiences."

Pam returned for a second, more challenging Nepal trek, has walked Hadrian's Wall in the UK, hiked in Tasmania and not so quietly marked her 70th on Europe's largest zipline.

Mark and Andrea have ticked off 42 countries so far, among them Morocco, Kenya, Tanzania, Sri Lanka and India. They've walked through the cloud forests of Costa Rica, climbed a volcano in Java, and have Patagonia and the Amazon firmly in their sights.

Along with "safe adventure" with the logistics handled by a travel company, and nature holidays, older travellers are seeking more immersive experiences, and are often drawn to destinations rich in culture and history.

Egypt is a country having its moment, says Dennis Bunnik of Bunnik Tours, with a huge increase in bookings to the country, driven in part by the much-anticipated opening of the Grand Egyptian Museum in November last year.

The old stereotype has morphed into something far more appealing, with smaller group sizes, slower rhythms and more authentic experiences, shaped by what travellers actually want.

"And as we've got older, we don't mind having a bit of support, especially for countries that we know nothing about or if our time is limited," Mark says. And while he and Andrea mix it up with a combination of independent trips, they also appreciate the sociability of small-group travel.

"We've stayed in touch and created long-lasting friendships with the people we've met on our travels," he says.

Pam, while largely an independent traveller, concedes that not only has group travel changed, but so has she.

"Having the logistics sorted out or having your luggage transported makes it so easy. And certainly with my more adventurous trips, as I've gotten older, travelling with a group makes more sense from a safety and security perspective than going off on a long hike by myself."

For travellers without a ready travel companion, group travel offers like-minded company and the joy of shared experience.

Older travellers aren't just going further. They're also staying longer - standard-bearers for the global slow-travel trend. Andrea and Mark choose to travel at a more relaxed pace - taking off for six to eight weeks at a time. Pam says she has learned to slow the pace of her active holidays, too.

"The one thing I've found since I've turned 70 is, I do get a bit more tired. I still love walking and hiking, but if I were to go on a long hike, I would do it over a longer period of time," she says. "Say three or four hours a day instead of the eight I once did. I can still do it - it's just going to take a little more time."

Travel companies are also shaping their trips to fit a demographic who feel like they've earned their creature comforts, with more premium hotels and transportation options, exclusive experiences, more inclusions and often, shorter travel days.

Pam wasn't an experienced hiker before taking on her Everest trek, she says, but was "reasonably fit and healthy".

"I booked it without telling anybody, because I didn't want anybody else's opinion on why I shouldn't do it," she laughs. With 11 months until departure, she started training. "Unfortunately, Perth, where I lived at the time, was pretty flat - we have no mountains or even hills around, but luckily, there was a place near me that had a couple of hundred steps. The first time I went up, I think I stopped twice on my way up there. By the time I went to Nepal, I was going up and down 20 times."

Whether planning a multi-day hike or just a leisurely sightseeing trip through Europe, Dr Deb Mills, aka The Travel Doctor, reckons all older travellers can benefit from a bit of Pam-like preparation.

"Most travel means more physical activity, so it pays to get fit before departure. Walk for an hour a day at least for the six weeks before travel and wear in your travel shoes," she advises.

Mark and Andrea often choose their organised trips based on their physicality rating and whether there is the flexibility to opt out of activities they don't want to do.

Being active and healthy doesn't stop friends and family worrying, of course.

"People at home think we're nuts," Mark laughs. "Especially with some of the places we've travelled to. But I'm happy with the choices we made. I think there could be nothing worse than looking back on life and having regret for not having done something."

Pam agrees, "We can't rail against ageing, it's inevitable. But how you age is entirely up to you. We do have limitations, of course. We have to be realistic and accept that. But it's all about managing them and not using them as an excuse for not doing something. My philosophy is just do it now and keep going while you can, because there are so many things that happen in life that you never see coming."

Ultimately, the rewards of travel extend far beyond the journey itself and the memories made. Studies show it promotes healthier ageing and even longevity. The best medicine, it turns out, may well be a boarding pass.