Travel

Let’s face it, retirement gives you one thing you always complained about while working: the lack of time. Having more free time seems like the perfect occasion to travel more.

Maybe you want to visit Europe, set off on a cruise or see Japan during cherry blossom season. Either way, keep in mind that travel is one of the most expensive hobbies. There is a trick to spending less while traveling: flight tickets are cheaper during the beginning of the school year and right after New Year’s.

Deborah L. Meyer, a Certified Financial Planner, suggests setting up a five-step plan as a pre-retirement to make those dreams come true:

1. Set up your travel goals and estimate how much money you will need
2. Instead of having a big saving goal, try monthly allocation to savings
3. Adjust your expenses as needed so you can actually save some money
4. Don’t give up on future goals
5. Act on achieved goals.

Rose