For many people, retirement represents an opportunity to sit back and put one’s feet up, after a hard few decades of graft. For others, however, it’s a chance to do just the opposite. Travel and exploration offer an appeal that’s difficult for many to resist. But travelling at this age is slightly different to the sort you might have indulged in when you were younger. Let’s take a closer look at the subject.
Why travel in retirement?
Travel can offer a source of novelty and fulfilment that might be essential when you have no day-to-day grind to pass the hours with. Plus, retirees tend to have access to a pot of disposable income, which can be used to finance their travel ambitions. There’s also the idea of unfinished business: when you’re in your 50s or 60s, you might feel that you have a responsibility to make the most of the time left – even if you think you might be up and active well after your hundredth birthday.
According to Eurostat, there’s a distinct spike in holiday time in those aged between fifty-five and sixty-four. Those over sixty-five accounted for almost a quarter of tourism nights spent for private purposes by EU residents over fifteen.
Planning your travels
Before you begin planning your trips, it’s a good idea to get an idea of your priorities. The best way to do this is with the help of a bucket list, which should detail all of the things that you’d like to do before you kick the proverbial bucket. Get all of your must-visit locations down in priority order, and start planning for the destination at the top of the list.
Finances
Travel can be expensive. If you want to fulfil your travel ambitions, therefore, you’ll want to get a strong grip on your financial life. Figure out how far your pension will stretch, and which alternative sources of finance might be leveraged to support your ambitions. An equity-release mortgage might be used to source cash from your property. They allow you to access the value stored in bricks and mortar and spend it on your personal priorities. Alternatively, you might seek to sell your home and downsize to a small one, pocketing the difference.
Documentation
For your trips to go as smoothly as possible, you’ll want to have all of your documentation on hand. Get your passport renewed, shop for the best possible health insurance, and make sure that you have
any necessary visas in hand.
Creating your Itinerary
You should aim to get the maximum enjoyment out of every destination you visit – especially if you don’t plan to return. Come up with a loose itinerary that covers all of your objectives – but leave yourself room for flexibility too!
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