One of life’s most important lessons is learning how to stretch a dollar. This lesson is even more important in retirement. Life brings new challenges every day that make us learn to sacrifice our wants and provide for our needs. We tend to think about that “one day” when we will be able to cross off our bucket list items. You often hear in conversations, “well, one day, I am going to travel the world and experience new things!” Maybe you are reading this, and you are currently in your “one-day” stage, dreaming of traveling the world. Or perhaps you are reading this to gain wisdom before you retire. No matter what stage of life you are in, there are ways to stretch your retirement money and get the most out of your “one day” traveling! Here are 3 ways to optimize your retirement travel.
Travel in an RV
A great way to stretch your money is by purchasing an RV to travel the country. You may be thinking, “how would I be stretching my money by purchasing an RV?” but when it comes to traveling, hotels are often the most expensive part of a trip. According to Statista.com, hotels in the United States can cost an average of $128 a night. The average RV Park costs between $30-$50 a night. Sleeping in an RV saves you money and gives you the opportunity to extend your vacation. While most people can only get a week off work, you will have the rest of your life! So, travel the country at your own pace and optimize your retirement travel in your new RV.
Extend Your Travel
The best way to optimize your travel money is by staying in cities for longer than a few days. A lot of time and money can be wasted when traveling directly from one place to the next. The train ticket and Uber rides will start to add up quickly. Instead, spend a few weeks strolling down the streets of Paris or Rome and learning to live like the locals. One of the best parts of your retirement travel is to immerse yourself in the culture truly. Check online to find tips and tricks on hotels and Airbnb’s that offer customers discounts with an extended stay.
Retirement Cruise
If you are wanting to get the biggest “bang for your buck” a retirement cruise is the ultimate way to optimize your retirement travel! A cruise is a relaxing and affordable way to see the world. These ships will leave for months at a time stopping at some of the most beautiful countries. Cruises have a built-in itinerary, stopping at multiple ports, and providing free entertainment. You do not have to worry about any planning, everything is all set for you to kick back and relax. Another perk is the all-you-can-eat food selection from breakfast to dinner time. There are even all-inclusive packages that can provide discounts for adult beverages, excursions, and any extra expense. This kind of traveling is all-inclusive and worth every penny.
Will Rogers says it best, “Half of our life is spent trying to find something to do with the time we have rushed through life trying to save.” If you are currently retired, how do you plan on optimizing your retirement travel? Or if you are currently employed, what are you doing to build your retirement fund? We have all been dreaming about our “one day,” but this vacation lifestyle can only come from a solid and well-organized retirement plan. The good news is that you can start saving for retirement travel right now by investing in a self-directed IRA. RITA is here to help educate you on the best practices for a self-directed retirement plan. For more information about how we can help you build your retirement fund, click here.