Long-term travel is not just for the young or the wealthy. Increasingly, older adults are finding themselves with few responsibilities and are hitting the road to reclaim the adventure they enjoyed when they were younger–or that they never got a chance to experience. Many resources are still geared toward twenty-something travelers, but there’s more and more information out there now for older adults as well. The tips below can also help you prepare for this exciting lifestyle.
Relocating or Just Dropping By?
Many retirees’ head for a foreign country, seeking better weather, a lower cost of living and perhaps a little more excitement than they’d find if they remained in their hometown. One of the first things you may want to think about is whether you’d like to actually move or if you want to keep your home base where it is. If you’re considering relocating, think about what you’re looking for after retirement, and be sure to find out about the infrastructure and health care that will be available to you. Another important point to think about that may affect where you go is whether you want to be mostly surrounded by expats from your own country or if you’d like to be more integrated with locals.
Your Cash Flow
One thing to consider is what your cash flow will be. Be sure to take both Social Security and your retirement savings into account. However, there might be other sources of cash as well. You may decide to sell your home. If you have a life insurance policy and you no longer need it for dependents, you might be able to sell it as part of a life settlement. This involves getting a portion of death benefit. The secondary market will receive the full amount eventually. You can read more a guide that contains more information about selling your policy through a life settlement.
Your Travel Lifestyle
How do you plan to travel? There are a lot of different communities out there, with two of the big ones being RV owners who largely confine their travels to the roads of North America and cruisers, or those who live on their boats part-time or permanently. If you plan to live this type of nomadic lifestyle, think about ways to stay active as you move around so that you can enjoy the flexibility of location but still prioritize your health. There are also the traditional means of travel, such as by plane or train. You’ll even find retirees abroad who have joined the Peace Corps or who are teaching English. Think about what you enjoy, what your priorities are and where you want to go as you plan the next few years of your life.
One of the best ways to figure out how to embark on an adventurous post-retirement life on the road is by connecting with people online. There are forums and social media groups that are full of people who have done the very thing you’re planning to do and who are eager to offer advice. If you’re not yet retired but you’re looking ahead, joining these communities can also be a good way of finding the right fit for you. While you should take all the usual precautions when it comes to communicating with and meeting strangers, real-life friendships often emerge from these online communities.
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