There are so many things to worry about when it comes time to retire, and many soon-to-be retirees get lost in the wave of decisions that need to be made. Where to live, how to pay medical, what to do with your time… these are all decisions that will need to be dealt with. There is one thing we do know; traveling is the key to a happy retirement.
Many soon-to-be retirees will not even think about travel, at least not at first, because they have so many other things on their plates. Try to focus on travel after retirement. Not only is travel an amazing way to spend your retirement years, but it also has many hidden and unappreciated benefits.
According to a study from the Transamerica Center for Retirement Studies, with the Global Coalition on Aging and the US Travel Association also on board, 71% consider travel in retirement an important goal worth saving for; 47% regard it not as a luxury but a necessity. Still, only 15% place a high priority on saving for travel, even though as a retirement priority it ranks second only to spending more time with family and friends.
Consider the annual cost of travel as a fixed cost in your retirement planning.
So why aren’t more retirees doing more traveling? Well, there are a number of things to consider, including health care costs, and actually saving enough to travel certain places. Remember, there is guaranteed income from certain sources after you retire, but not always enough guaranteed income.
It is important to plan for travel in retirement, because it will bring you joy and allow you to get out and see some of the world. If you are having a hard time figuring out where you can get extra money from for retirement travel, here are a few things you could consider:
- Consider the annual cost of travel as a fixed cost in your retirement planning.
- Focus on the health benefits, to help remain committed.
- Make plans to travel with family and friends, to satisfy most retirees’ top goal at the same time you are seeing new places.
- Remember that travel does not have to be exotic or expensive to have health, family, and social benefits.
Start planning now so you can enjoy plenty of travel time after you retire.