Retirement is arguably the best time of life to travel. Without having to focus on a full-time career, retirees typically have much more freedom, flexibility and, ideally, finances to see the world. Here are a few ways to make travel in retirement even easier.
5 Tips to Travel in Retirement
1. Flexibility
Without being tethered to a full-time job, retirees are able to vacation virtually whenever they want, so long as other obligations don’t get in the way. This allows them to travel to destinations in their off-seasons.
There are numerous benefits for traveling to popular destinations outside of peak months, like the summer and winter:
- Places tend to be less crowded
- Plane tickets are typically cheaper
- Accommodations aren’t as expensive
This allows for the exploration of more places for less money.
2. Discounts
There are numerous organizations that offer discounts for people 50 and older and senior citizens. It’s relatively easy for retirees to find marked down prices for:
- Rental cars
- Flights
- Hotels
- Restaurants
- Cruises
Not all companies publicize their senior discounts, so it never hurts to ask.
3. Slow Travel
“Slow travel,” or staying in one place for an extended period of time, is becoming increasingly popular. The idea is to make vacation less hectic and stressful. For example, rather than seeing four different European countries in seven days, travelers may stay in Milan for those seven days and gain an intimate understanding of the city as a result.
However, slow travel also has significant financial benefits:
- Travel costs are often reduced
- Vacation rentals and home exchanges are less expensive than hotels
- Save money on restaurants by purchasing groceries to cook
4. Long Cruises
Long, leisurely cruises that anchor in dozens of ports around the world offer considerable savings and have become a popular way to travel in retirement. They also allow passengers to see many destinations across the globe, without having to rush.
Some retirees have even opted to live on cruise ships, rather than retirement homes. Certain cruises actually have cheaper daily cost of living.
5. Travel Rewards Programs
Frequent travelers can save significant amounts of money by leveraging rewards programs from the companies they patronize, including credit cards, hotels and airlines.
Researching which companies offer the best rewards programs can pay off wonderfully.
With the right management of funds like 401(k)s and Roth IRAs, just about anyone should be able to reach their financial goals and travel in retirement. Be sure to check in frequently with a Certified Financial Planner Professional™ to ensure that you’re on track for a comfortable retirement.
