95 percent of retirees would prefer to have enjoyable experiences over buying things. This demographic is also seeing an increase in international travel each year.
If you’re part of this 95 percent, or you’re not yet retired but aspire to a lifetime of traveling, consider these tips for affording travel well into retirement.
Prioritize your trips and understand their costs.
Once you get a sense of how much you can afford to spend on travel, your next goal should be maximizing that money—specifically, by identifying the trips that are most important to you and getting a solid sense of how much they’ll cost. The Motley Fool
Maximize every travel dollar.
With the advantages of time and flexibility in retirement, you may be able to reduce the overall cost of each trip. Scheduling a trip during the off season or the shoulder season, which is the time just between the peak and low periods, can lead to savings. Also, try combining long trips to save on airfare. Instead of traveling to Italy one year and Portugal the next, go to both places in one trip. U.S. News & World Report
Use Credit Cards that offer travel rewards.
Chief Financial Analyst Greg McBride suggests savvy consumers use credit cards that offer attractive rewards. “They can fund significant travel expenses — airline and hotel points or rebates can offset travel costs. This works for disciplined consumers who will pay off the balance every month.” Travel + Leisure
Book flights that will leave you feeling refreshed.
To make your trip even more enjoyable, you could opt to travel business class. Sure, younger people can contort themselves into the airlines’ cheapest seats, but retirees have more than earned the right to sit at the front of the plane. (It’ll be easier to sleep on the plane, too, so you’ll have more energy for your experience when you land.)
How do you plan to tackle your bucket list? Leave a comment, and give us a call when you begin planning your next trip!