Many of us dream of traveling the world, yet, few of us ever get to fulfill that dream. Sometimes, life gets in the way. Perhaps we lose our jobs, medical emergencies happen, children our born, people need to be cared for, and we just don’t have the funds to travel as much as we would like.
It’s an amazing fantasy to just quit work and lead a life of travel. If you are a retired baby boomer, can you make that dream a reality? Of course, you can. Keep reading to learn more.
You Must Be Ready
There is a lot of planning involved with leading a life of travel. You need to make an honest assessment of whether you are ready. To illustrate, do you like to vacation or would you really like to hop from one place to another.
Remember, there are inconveniences with traveling such as not being familiar with the area, having to find a new place to stay after each trip, and figuring out where the grocery stores and hospitals are.
You will need to buy food, and you have to know where you’ll be taken in the event of an emergency. Can you live this type of lifestyle? Or, would you prefer to vacation here and there?
In addition, do you have any responsibilities keeping you at home? Are you caring for special needs children, or elderly parents? If so, you may find it very difficult to hit the road on a consistent basis. Plus, as a retiree, you must consider your health.
You have to consult with your doctor to see if you are fit enough for life on the road. You don’t want to have an emergency in a place that you’ve visited for the first time. If you have Medicare, expenses are not covered outside the U.S. You will need travel insurance.
If you want to indulge your wanderlust, then you should have a wealth planning blueprint to ensure you protect your assets and cut down on your taxes. This way, you won’t spend all of your travel time worrying about money. Then, you should travel off-season.
Since you are retired, you don’t have a job holding you back. Since your schedule is much more flexible, you should take advantage of it. Now, you can visit your intended destinations on a budget–with fewer crowds.
You’ll find significant savings on hotels and airfare. Plus, you’ll find a lot more coupons for local restaurants trying to bring in more foot traffic. You want to research the destination first to see if there are any issues with inclement weather causing a decrease in tourists. If not, feel free to travel and reduce your travel budget in the process.
Get the Senior Discount
As a baby boomer, who wants to save money, now is the time to reveal your true age. Forget shaving off a few years, because sharing your real age will get you AAA and AARP senior discounts on items such as:
- Vacation packages
- Car rentals
In fact, many U.S. airlines offer senior discounts of 10 percent or more. The same is true for many hotel chains including:
- W Hotels
- Westin Hotels
- Four Points
Of course, many restaurants and theaters also offer senior discounts. You must take advantage of all of the senior savings.
A life of travel can be executed with the right planning and wealth management strategy. You don’t have to sit at home watching TV during your retirement. Instead, you can embark on the adventure of your dreams.
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