Retirement is the ideal time to travel to your dream destinations. This is definitely the best phase of life to explore the world. Your children are probably all grown up, you have finished paying the mortgage, not debts, and your retirement package is still intact. So, you have the financial muscle and time to travel to as many places as you wish.
However, there are a few things that you need to put into consideration. Considering that you have the all the time to travel, you need to be very smart to get the most out of these travels without exhausting your finances. Here are 10 tips on how to travel upon retirement.
1. Proper Budgeting
The most important thing when travelling upon retirement is a realistic budget. You must be operating on a stringent financial plan to protect yourself from misusing your retirement perks. Don’t be tempted by the thousands of dollars in their bank account. If you are no longer in gainful employment, and thus it’s easy to get into financial instability. So, if you want to travel after retirement, you need to create a financial plan to help you spend your money diligently. You can create the plan yourself or hire a certified financial planner in Australia.
2. Set Goals
The biggest mistake senior travelers can make is failing to set travel goals. Where do you want to visit, and how long are you planning to stay? How much are you planning to spend? These are crucial questions that will help you set goals. Therefore, you need to make a bucket list for all your dream destinations. Then you need to plan when you want to travel each of the listed destinations. It is also important to take into consideration whether you are going with your spouse or fellow retirees. Lastly, is why you want to travel? These questions will help you set realistic goals.
3. Pick Wildly New Destinations
Travelling after retirement gives you all the time you need in the world. So, don’t limit yourself to the so-called true destinations. There are many other new places that you put in your bucket list. The trick is to be wildly adventurous. Pick destinations that are new and fresh and enjoy their unique beauty. There are hundreds of wondrous destinations, but very little information is known about them. These are the destination you need to visit. However, don’t compromise your safety in the process.
4. Tap on Hotel and Airfare Discounts
You will be surprised to learn that some of the popular hotels as well as airlines offer discounts to their senior customers. Therefore, if you are planning to tour the world after retirement, then you need to try to benefit from such perks. A discount of 10-20% is pretty cool, especially if you are planning to travel more often. You can easily find these hotels and airlines by searching the internet. Similarly, you can ask friends and family about them. However, contact them to confirm these perks.
5. Forgo Hotels
Be a bit adventurous and at the same time, reduce the cost of travel by forgoing hotel accommodation. There are many exciting accommodation options that you can select from without compromising your security and safety. The Airbnb and VRBO are some of the most popular options since you can rent a condo, treehouse, apartment or even a houseboat. Home Exchange and hostels are also a great option for people looking to spend less. All these options are cheaper than hotels and somehow more adventurous.
6. Rent Out Your Home
If you live in a tourist rich place in Australia, why not rent out your home. There are many tourists, especially families, who are looking for such accommodation. So, you can put up for rent for the period you will be away. This is one of the smartest tricks to supplement your travel costs. You will also be making extra money on your retirement. So, put your home on Airbnb, VRBO and Home Exchange, amongst other platforms.
7. Capitalise On Last-Minute Deals
When travelling after retirement, you have all the time to capitalise of the last-minute deals to your desired destination. During the off-peak months of the year, most hotels and airline offer incredible discounts to attract customers. Some of the hotels offer up to 70% discounts on accommodation. For example, if you desire to travel to Sunshine Coast, Queensland, you can capitalise last-minute deal and opportunities. At this time, you can afford the best hotels in this region due to discounts. There are several apps and website can help track these deals.
8. Slow Travel
Slow travel or extended visits works great for retirees. These are kind of travels that value for money. First, you will be able to fully exploit the beauty of your dream destination since you have all the time in the world. Second, it will cost you less in the long run. Longer accommodation packages are cheaper, and the cost of transport is usually lower. You will also avoid tourist traps and learn more about the destination.
Investing in a recreational vehicle is a perfect way to drive around Australia, especially the national parks. RVing works great for people who love adventures and more so touring the many eco-tourism destinations this country offers. It is an exciting experience, especially for those travelling with spouses or with friends. You can also generate some income in retirement by hiring your RV when you are not travelling.
10. Take Travel Insurance
Last but not least is travel insurance. Travelling upon retirement is exciting but a bit risky. You are travelling on your retirement package, and probably, you don’t have another income-generating activity. That’s why you should think about travel insurance and more so medical travel insurance. You are visiting new places, and this might expose you to serious illnesses. That is why medical insurance is one of the crucial covers for travelling retirees.
Other travel coverage you can take include trip cancellation, evacuation, baggage and personal item loss, and life insurance, amongst others.
If you are planning to travel after retirement, this is definitely a smart decision. You have all the time in the world and money to travel to your dream destinations and enjoy an extended stay. However, you need to be smart to get the most out of your retirement travels. With these 10 tips, you have everything you need to get the most out of your retirement travels. We also recommend that you hire a financial planner to help you manage your finances.