For the current generation of retired Australians, domestic and international travel is a luxury they are only just beginning to be able to afford. If you’re just now reaching retirement age, chances are you didn’t take a gap year after high school, and you didn’t travel much in your B.C. years (before children).
However, increasing affordability in global tourism has meant that retirees are now perfectly placed on a whole to dust off their passports and head off to see the world, and make up for time served.
Here are some do’s and don’ts I’ve garnered from my experience talking to my over 55 customers who’ve caught the travel bug.
Get in early
Making your initial plans can often be a sticking point, but you should try and plan ahead so you can take advantage of early-bird specials. By booking in a travel date, you can keep a close eye on your costs, and pounce on the best deal on flights, accommodation and other major expenses. What’s more, leaving these bookings to the last minute can often end up costing more.
Bang for your buck
If you’re looking to make the most of your travel dollar, try to plan your vacation so you can see as many destinations in close proximity to each other as possible. Long distance flights aren’t cheap, but if you package up your holiday, you can save time and money on travel costs by using buses or trains. If this appeals to you, but you want to ensure a relaxing trip, cruising might be right up your alley. All your costs are covered up front, so everything is taken care of for you.
Timing is everything
Regardless of which season you plan to head away, shopping for travel necessities in the off season is a great way to keep your costs down. For example – are you planning a winter European getaway? Be sure to hit the Christmas sales down under to stock up on warmer clothes when the sales are at their juiciest. The same thing applies to your actual vacation – if you’re looking to really squeeze every drop from your dollar, visiting tourist destinations in low season can make for a much cheaper option.
If you’re part of a group, the savings on offer by travelling together can be hard to ignore. From accommodation to transportation, providers will often provide discounts for group bookings.
Get the right cover
The excitement of the impending journey can often mean that many people forget about Travel Insurance, particularly if they’ve not travelled widely before. However, the last thing you want to remember your holiday for is the hospital bill you accrued, or the fact that your luggage got misplaced a long way from home. Speak to an expert to arrange the right cover to suit your circumstances. You can even get a quote online.
Manage your money with ease
Whether you love the feel of cash in your back-pocket, or you’re a long-time card-convert, it’s easy to sort out your travel money before leaving home. The Greater is able to order the foreign currency of your choice, and are also able to help with either Multi Currency Cash Passport or a convenient Visa Debit or Credit Card. Not to mention the fact that The Greater’s Internet, Mobile and Phone Banking, as well as our Smartphone App allow you to manage your money anywhere, anytime.
Do you have a Retirement Travel Do or Don’t to share with us? Why not leave it in the comments below?
If you found this blog helpful and would like to be kept up to date with regularly updated financial advice, why not connect with The Greater on Social Media?