Planning for travel funds in retirement.
In this sponsored post I wanted to touch on the not so fun topic of affording funds for travel in retirement. When we retire we all want to hit the road and visit our dream destinations. That is what I am doing, and hope to continue to do. However, to do this, it is important to plan ahead and save for retirement and for funds for travel as well.
Will you have the money you need for the day to day expenses, let alone the extras like hotel stays, air travel etc.? To find out, you might want to use a retirement savings calculator. The calculator will provide you with a personal assessment of your financial planning for retirement. This will also help you meet your goal for finding enough funds for travel in the days to come.
The calculator and retirement score will provide you with answers to those hard to answer questions. Do you have enough money to last? Are you are saving enough? When can you retire? Do you have the needed funds for travel?
These are questions that probably will need to be answered before the fun stuff like the trip planning begins. You want to be able to live the life style you have already established in retirement, and answering the hard questions now will help you do this.
There may be adjustments to be made. I live in the country and have tried to make some simple adjustments like combining trips into town rather than several single trips. I cut out subscriptions, unneeded shopping excursions and other expenses that cut into my daily budget. Little things, but I have found these little things add up.
I had to stop and do these same calculations before retiring from the State of Illinois four years ago. I used the resources offered to me from the State of Illinois retirement classes, to meeting with retirement staff. My husband and I sat down and talked.
Life is a beautiful thing and the traveling adventures I enjoy is part of what makes it so. But only when the funds to travel are available.
If travel is on your bucket list after retirement, make your life easier and just do it! Calculate away and see where you stand, you will be glad you did.
