retirement travel planning tips

Janel and I just returned from Sedona a couple of weeks ago, and I want to tell you, if you’ve never been there, definitely put that on your bucket list. Pictures don’t do it justice – you truly have to be there to appreciate the red mountains and the sheer beauty.

Of course, this trip presents all sorts of thoughts regarding future vacations and traveling during retirement. Many of you are more experienced travelers that I am, so I will avoid any more “go here” suggestions.

But I CAN offer up some suggestions on how to handle traveling within a retirement budget.

If you are as, umm, frugal, as Janel is, I might want to suggest it’s OK to starting with travel ideas, but being aware of potential cost savings. This article in Travel & Leisure has the following tips:

  • Travel during off-peak times (hey, you’re retired, so you should have some flexibility)
  • Use your discounts! (AAA, AARP, United Airlines, Starwood for 62+)
  • Leave some cushion (most vacations go over budget by 20%)
  • For longer stays, consider home swaps or Airbnb

Additionally, a point a couple in this article makes is to travel to affordable countries first, stretching their funds a little further while their nest egg grows.

Finally, know that in our retirement plan, we have already built in the costs of travel. As you know, your plan includes:

  1. Monthly retirement budget (usually estimated, which is fine)
  2. Income Guardrails, allowing to seamlessly adjust your income without ruining your retirement
  3. War Chest of bonds and fixed income, providing security against market downturns

 

Regards,

John Mears