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