Budgeting For Travel – Now and Later

Whether it’s palm trees, museums or shooting the rapids, travel continues to be a popular pastime for retirees. While the scenery may change from year to year or season to season, one thing never changes: travel can be expensive. Planning ahead and traveling in the off season can save.
 
Many retirees opt to travel early in retirement when health is not a concern. For some, travel expenditures are assumed for a set number of years during the first part of retirement. For others, travel is planned throughout retirement. 
 
If travel is at the top of your “to do” list, you will want to set up a budget for it just like you do everything else. Set your destination priorities and work with your financial advisor to incorporate these expenses into your retirement planning scenarios.
 
Keep in mind that you need to be realistic about the cost of what you want to do, and take steps to set aside the required funds. Once you have made your plans and your trips are budgeted, set aside the cost and enjoy the experience!