You’ve saved and planned extensively for your retirement and, it’s hoped, you’ve done so in plenty of time to also plan your life in retirement.

Retirement shouldn’t just be about no longer working, but about enjoying your free time as part of the very powerful ‘silver pound’ brigade, and visiting all the areas you never visited while you were busy at work. 

After all, a big part of retirement planning is the ‘travel the world’ plans so many of us have for when we stop working. If you’re prepared for retirement, know your retirement income, and plan effectively including travel costs then there’s no reason you can’t live out your dreams. 

Travel planning can be quite exhausting, and it’s easy to miss out on a simple step that could end up costing you time and money later on down the line. While for financial planning you can go through your options with a financial adviser, it’s less clear where you go to for retirement travel advice: so we thought we’d step up to help!

As a change from advising about pensions, tax, your state pension, your national insurance contributions we thought we’d try and help the adventurous travellers among you by gathering some of our favourite clients’ favourite pieces of ‘retirement travel advice’, which we present here for you to read and enjoy!

Top Ten Retiree Travel Planning Tips.

1. Your ‘Bucket’ List of Destinations

Paying due attention to your budget obviously – and we all have different ones – start by setting out your dream list of holiday destinations.

If you start in the UK and work outwards across Europe and the rest of the World, you’ll end up with a pretty well established ‘bucket list’ – and then your plan is underway!

2. Your Travelling Companions.

Is this a destination list for just you, you and your spouse/partner, you and a group of friends...there are different deals available for different groups/types of people travelling, and knowing exactly who’s booking will help you to determine the best possible package options.

3. Travelling Times.

Different times of year can mean different locations are better, so make sure you bear in mind weather conditions at home, at your planned destination and along the way so that you can have the most comfortable and enjoyable journey possible.

4. The Journey.

Are you stopping off to see other things en route? Visiting family for a week (or three!) along the way? Planning every step of the journey can be an enjoyable experience, and it can help you make sure that you don’t miss any individual sights or places that can be reached along the way to your eventual location.

5. Mode of Travel.

Have you purchased a camper van, do you prefer cruises, are you fond of a bus tour? Once you know how you’re getting to where you’re going, you can go back to the point above about making sure you don’t miss anything along the way.

6. Costing the Journey.

Don’t forget your OAP discount. You’ve earned the privilege after all, so it would be foolish not to use it. You’ll get massive discounts on transport, especially bus journeys, and you’ll also find generous discounts at most hotels and at venues themselves. If you plan well in advance, you’ll be able to work out exactly how much your trip will cost you.

7. Affording the Journey.

How about renting out your home while you’re gone? Sites like AirBnB make it easy to rent your home for the weeks that suit you, and while you should carefully read the terms and conditions – and the stories from other renters who’ve leased their homes in this way – it could be an excellent way of helping to offset the cost of the trip.

8. House / Pet-Sitters.

Alternatively, you may need to consider getting a house/pet-sitter in for the weeks you’re gone – and there are websites that you can sign up to that put you in touch with suitable people. You can have someone stay in your home and look after your pets at no cost – other than a fridge full of food and the use of your WiFi – for the duration of your holiday. 

Obviously you should take care to thoroughly vet the people who apply, check references, and have them round for a cuppa – but as an alternative to expensive kennels and leaving your house empty, it's well worth exploring this option.

9. Life on the Road.

Have you considered staying away for an extended period, perhaps six months or more? If so, you may wish to consider a short-term lease of your property via a reputable estate agent as step one. Then as step two, you can carefully plan your journey across the open roads to your summer destination....or perhaps you’d rather move around for the whole time, without settling down anywhere? The choice is now yours, so choose whatever excites you the most!

10.  Travel and Medical Insurance.

Wherever you’re choosing to go, make sure you’re fully covered so there are no unexpected costs on the horizon. Full insurance coverage for nearly every eventuality is a must before every long trip. (TASH do you guys sell this type of insurance if so we could link to it or put in a call us button??)

For a lot of people, travelling is a huge part of retirement. Enjoy it to its maximum by carefully planning all the aspects above – unless, of course, you prefer a less structured, more adventurous lifestyle, and you’re just going to go wherever the best possible last minute deal takes you?!

Retirement Travel Planning

Start planning your future. Speak to us today.

Contact Us

Seventy Financial Planning
The Apple Store, Haggs Farm,
Haggs Road, Follifoot, Harrogate,
HG3 1EQ

01423 611004

[email protected]

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