It’s a dream that has crossed everyone’s thoughts at one point or another – quit work, pack a bag and head out into a life of traveling. But what if you turned that dream into your retirement reality? What exactly does it require to invest in a post-retirement trip finding a whole new world through travel, not just relaxing at home?
There’s a lot of planning involved before embarking on a life of travel, and that plan begins with the honest assessment of your readiness for such a lifestyle. While there are not any right-or-wrong answers, you must ask yourself the following:
- Do you have Obligations?
If you’re caring for disabled children, elderly parents, or grandchildren who desire your presence, you’ll likely find it tough to hit the road indefinitely.
- Health State
While you don’t need to be in a perfect condition for a life of travel, you need to be healthy to a certain extent. In case you are nursing a long-term health problem, seek advice from your doctor before making long-term travel plans. You’ll want travel insurance to cover any medical emergency because Medicare does not cover health expenses incurred outside the United States.
- Are You Prepared?
Do you want to travel, or just vacation? It might seem obvious, but there’s a huge difference between a weeklong vacation and a lifestyle centered on travel. Would you like packing, flying, finding a place to stay and the rest of the annoyances involved with traveling? Or is a week or so on vacation enough to satisfy you?
- What’s Your Financial Situation?
You must take steps to prepare yourself financially if you’re planning on staying abroad significantly. The exact figure depends a great deal on your expectations although extensive traveling calls for a big nest egg. Before heading out, you’ll need a sizable bank account in the event you want to stay in upscale resorts throughout Europe or North America. If you are willing to stay in modest lodgings affordable motels, hostels, campgrounds or leased apartments – you can travel quite inexpensively. Moving to nations in the developing world is just another solution to save huge. In many spots, you won’t be asking yourself, “Where can I get quick loans near me?”, because you’ll be able to travel on just a couple of dollars each day.
Affordable Retirement Travel Hacks
While flying first-class to a high-end resort is certainly pleasing, it isn’t part of a regular retirement travel plan. Instead, search for alternatives that would keep your budget under control. Picking destinations which are known for the low cost of living and staying in lodgings that are cheap, you can cut prices in other ways such as:
- Cruise Lines
Cruise lines offer discount excursions when they transfer a boat from one port to another, generally during the offseason.
Think about a volunteer vacation if you intend to make a positive impact while seeing the world. Choices range from two years in the Peace Corps to several days. You’ll pay a set price that covers your food and accommodation throughout the volunteer stint, typically less than the trip would cost.
- Work as you go
By working during your journeys, it is possible to replenish your bank account without needing to use quick loans with no credit check on the same day. Teaching English abroad, composing a website or book based on your experiences, working as a virtual assistant or other online jobs and beginning a small import/export company are all possibilities.
- House Swap
If selling your home is not an option, then you can initiate a house swap involving you and another homeowner in the same location where you plan to travel. It’s a great strategy to holiday abroad if you’d like to stay a week or more in one place.
- House Sit
Cover the price of your lodgings by house sitting for a family that is doing some traveling of their own. In return for staying in your home at no cost, you may be expected to care for pets, water plants or perform simple maintenance
While some retirees are pleased to invest time visiting with friends and relaxing at home, others desire to have a more adventurous lifestyle. You’ve always dreamed of seeing the planet, and if you fall into this group, a retirement spent circling the earth may be the solution to your dreams.
But before purchasing a plane ticket and selling your possessions, you’ll have to perform an honest assessment of your budget, your travel goals, and your financial situation. Have a conversation with your financial advisor early in the decision-making procedure, so you’re clear to the best approach. Bon voyage!