With the average age of retirement being 63, it would make sense to assume that the time for traveling may perhaps be over. But this certainly doesn’t have to be the case as, when retired, you have a huge amount of something the majority of working people don’t have: time!
So why not use this time to do the traveling you always dreamed of? In fact, statistics have shown a dramatic increase in traveling amongst those aged 50 and over, with the stereotype that young people are the only ones who travel being surely challenged. If you’ve always wanted to wander the world but have always found an excuse not to, your retirement could be the answer! Read on to discover some tips on how to best pay for traveling and use your retirement to your advantage.
Travel during regular working hours
One of the best things about retirement is finally being able to avoid the dreaded commute during rush hour. So, when not working anymore, it makes much more sense to travel to your chosen destinations when everyone else is at work.
In addition to significantly reducing busyness and unwanted stress, flight prices and hotel room costs will be cheaper too. Generally, it costs less to fly between Monday and Wednesday as opposed to weekends, simply because this is the least common time for working people to travel.
As with any big life decision, planning ahead is vital to ensure you’re as financially and emotionally prepared as possible. Analyze your finances to establish whether traveling is even possible for you and, if so, work out exactly where you’d like to go to estimate potential costings.
But sometimes saving enough money for retirement travel is extremely difficult, especially if you have a lot of expensive bills and other outgoings. So, as long as you’re sensible, getting a credit card can be extremely efficient in helping you save and buy any immediate essentials if they arise. Find out more to establish the most appropriate option for you.
Take insurance into account
As much as we’d hate to admit it, the older we get the more health concerns we face. Even if you’re feeling super fit and healthy upon retirement you never know what’s around the corner, so it’s essential to consider insurance within your travel plans and budget.
Not only will travel insurance help you reclaim back some money if you suddenly become unwell and are unable to go on a particular trip, but will also give you peace of mind that you’ll be covered if anything unfortunate happens when on the road.
Traveling doesn’t have to be kept for young, working people. It’s clear to see that a higher number of older people are now fully using retirement to their advantage and taking the plunge to travel themselves! As long as you’re sensible and suitably plan ahead, there’s no reason why you can’t use your time to wander the world.
Brooke Houghton is a Mom who writes about travel. Though not at retirement age yet, her Mom is, and Mother and Daughter often discuss travel plans with each other.