Holidays on a Retirement budget
When you reach your golden years, and you finally get to retire, you still want to live a similar lifestyle as you had before retirement.
Here we give a few brief ideas on how to ensure that your dreams of retirement holidays in the sun do not whither before you actual retirement.
You should plan you retirement down to the last penny, there are many online calculators that assist to calculate not only what you need when you retire as well as what you should be saving to get to that target. If you are close to retirement age already, it’s not too later to plan.
Spend some time trying to figure out exactly where you will be when you retire. Will you sell your big family home and move to something smaller? Will you be mortgage free by retirement? Also check what housing costs you can reduce now, ensuring you do not invest in unnecessarily in a home you would be selling within a few years. Other debt reducers should be implemented, try not fall into spending as you earn, as lifestyle creepage is sneaky and can take a toll on your overall planning and budgeting.
Saving is obviously the most important part of anyone’s retirement, whether or not you plan to travel or just relax with a game of golf. Savings should be started from as early as possible, but it is never too late to start saving. Invest wisely, the older you are, the less risks you should take when investing, the last thing you should do is gamble you retirement savings on high risk investments
Consider separating your funds, the majority of your savings go towards retirement and the rest toward your future holidays. And always remember inflation, a holiday that costs $5000 in 2018 will be a very different price in 2025.
So stop those daily stops for an expensive latte and bagel, and save as much as you can, Tuscany is calling and it’s not going to be cheap!
Get a Job
I know right, your retired, you do not want a job. But maybe to get that trip to Tuscany isn’t possible on your savings prior to retirement, would you rather then stay at home or get a part time job? If you can, look for the best AFL betting odds and see if you can land a big win, or work once a week or even once a month and earn some extra cash.
Seniors with skill sets and work ethic are not unemployable, and you could easily make extra travel money by freelancing or part timing. You could also get a job in training in your prior field of expertise, training younger generations and up skilling.
In this modern day everything is online, including many house-sitting opportunities across the globe. Find a reputable house-sitting agency, that works with a no pay just stay policy. You will not get paid to housesit but you will get free accommodation in Tuscany on condition of watering a few houseplants or walking a fluffy dog.
House owners often just want someone in their home for peace of mind. By house-sitting in a different country or town, you get free accommodation in a location as close to your dream destination as possible. Your only expenses would be flight costs, food and spending money, this is a great bargain!