Saving for the Dream Retirement Holiday

Written by Karen Bryan

Spending our golden years on a sun kissed beach, hopping across Europe or enjoying luxury cruises is a dream for many. That dream can easily become a reality with a little financial planning and some simple lifestyle changes.

Follow this guide and you could be jet setting around the world, long into your retirement years.

sipping a glass of wine

Plan Early

Travel doesn’t come cheap. Take the cost of a family holiday, for instance, which is now as much as £400 more expensive thanks to a hike in taxes and airline duties. So, if you want to travel extensively, it’s important to make big lifestyle decisions early on. Retiring later in life provides more income with greater possibilities for travel. Alternatively, you could keep a part-time job after retirement to pay for living expenses whilst you’re saving. Paying into a personal pension can also be beneficial. Consulting a financial services institution could help you receive a better return on your money, with a substantial income each year to fund your expenses whilst at home and on the road.

Downsize

If you’re still struggling to generate the funds, it could be worth downsizing. If you’re passionate about travelling, it may be an easy compromise to move to a smaller house or less expensive area. You’ll free up plenty of cash, which means more money for holidays and less pressure to live frugally. There’s no point in having a big house if you can’t enjoy a comfortable lifestyle.

Travel Off Peak

You can save on flights and accommodation by travelling during off-peak months. That’s great news for retirees who aren’t restricted by school holidays or working stipulations. Take advantage of this cost saving window and book the holiday of a lifetime without the hefty price tag. Always use price comparison websites to book the cheapest flights and accommodation. Some of the larger hotel chains offer discounts for seniors, and in European countries like France or Spain there is a special card for senior citizens that will give you varied discount on rail travel within the country.

Volunteer

For the active retiree that wants to make a difference on their travels, why not consider a volunteering holiday? There are endless options to choose from, all offering a unique chance to help a community and enjoy a new culture. You’ll still pay for the cost of food and accommodation but it will be much cheaper than a traditional holiday.

Use an Agency

There’s a huge selection of travel agencies aimed at helping those in retirement. These often provide tailored packages for over 50s which takes all the stress out of travel. From Caribbean beach holidays to European sightseeing tours and Danube River cruises, you can enjoy an all-inclusive service to some of the most beautiful destinations on the planet. Saga Travel is one such company that offers exclusive discounts and make travel on a tight budget accessible for many.

peligros beach santander spain

Peligros Beach, Santander, Spain

Take some time to plan for your retirement and there’s no reason why you can’t explore the world, ticking off those bucket list experiences along the way.

Photo by Jenny Downing – used under Creative Commons Licence