Retirement is the goal to which the vast majority of working adults in the UK are working towards; a time of minimal responsibilities and maximal enjoyment, and a time to cherish life and the world around you. Retirement is also one of the more popular times at which to explore the world, as over three quarters of people travelling for more than 10 weeks are over 70 years of age. Retirement travel is a beautiful thing, but how exactly should you go about planning it?
What Do You Want to Experience?
Any retirement travel plan worth its salt should start with destinations and experiences before anything else. Budget and logistics are of course crucially important – and we’ll get to those later – but these should be built around the holiday you want to enjoy, and not the other way around.
You don’t need to have a firm idea of the places you’d like to go in order to plan your trip. You can start with ideas about what you’d like to experience as you travel. Perhaps you’ve got a hankering for some sun and sea, or you want to sniff out some independent culture in a chic urban environment. These are great starting points from which you can find destinations that suit your wishes.
The Budget
Traditionally, where you go and how long you go for is dictated by the amount of money you have available to fund your travels. But for retirement holidays, you can treat your budget a little differently. Instead of going straight to compromising on your trip to make it affordable, you can think about ways to fund your dream trip that make it possible without amendments.
Many people of retirement choose to use their savings to fund their dream trip – but of course, not everyone can afford that same luxury. Thankfully, there are other ways to unlock value; one alternative funding source, for example can be found in the equity release mortgage available to those over 55. Equity release enables homeowners to release the value of their home in advance to spend in the short term, allowing them to afford big purchases such as an extended retirement holiday.
When, and How Long to Travel
Next up, how long would you like to spend on your travels – and when would you like to go? In retirement, there is little standing in the way of an extended retreat, and much less to consider when choosing a time to set off.
Still, there are some external considerations to make before you go ahead with your booking. For one, you might be keen to miss the busy tourist season for your destination of choice, meaning you’ll need to research when the off-season for that area may be.
Booking Flights
Even if money is less of an object than before retirement, there are still areas you can save that will give you more money to spend during your trip. Flights are a major cost, and being shrewd when it comes to picking your flights can help you save hundreds – especially if your trip has multiple legs. Don’t be afraid to shop around!
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