Whether you’ve always dreamed of checking global destinations off your bucket list, or you have only recently felt the twitch to travel internationally, one thing is certain: The retirement years are a nearly perfect time to pack your bags. You have more time in your schedule, as well as the flexibility to choose deals that are only available for certain dates.
Among boomers who are planning to travel during 2018, 47 percent are opting for domestic and international destinations, according to an AARP survey. The Caribbean, Latin America and Europe are the top choices for individuals looking at international travel.
And if you’re longing to visit a far-flung location but are worried about costs, there’s good news. “There are very few places in the world that are out of reach budget-wise,” says Jonathan Look, Jr., the founder of LifePart2.com, who took early retirement in 2011 to travel the world.
The key to creating an unforgettable international experience that fits into your budget is to plan ahead. Follow these steps to set up and thoroughly enjoy an international trip during retirement.
Understand what you can spend. If you have a fixed income and a substantial nest egg, it’s essential to evaluate your current budget and decide what funds will be used for the trip. “As a general rule, you can withdraw about 3 percent of your nest egg’s value each year without having to worry about running out of money in retirement,” says Alexander Lowry, a professor of finance at Gordon College. After adding up what you’ll need for basic living expenses, such as housing, food and health care, you’ll see how much money will be left over each year and could be used for travel.
[See: The Best Places to Retire in 2018.]
Estimate the overall cost. Once you have a sense of how much you can afford to spend on an international trip, you’ll want to look for ways to maximize that amount. Start by identifying the trip that is most important to you and then finding an approximate total cost. Think of every step involved, including flights, car rentals or local transportation, lodging, meals, shopping and travel insurance. “Whether you decide to research your trip independently or through a travel agent, the key is to get an accurate estimate of how much the adventure will cost rather than just guessing at it,” Lowry says.
Factor in enough time. If you’re crossing multiple time zones, you may need an extra day or two after arriving to fully adjust to the change. The same is true for high altitudes. Destinations such as Machu Picchu are located at a steep elevation and may require extra time in the itinerary. “People who arrive in Cusco, Peru, which is 11,000 feet, often need a day or two to adjust to the altitude before beginning their activities,” says Jacquie Whitt, co-founder of Adios Adventure Travel.
[See: The Top Travel Destinations for Retirees.]
Check on hidden fees. Depending on your destination, there may be some additional expenses that will need to be added to your initial estimate. For instance, you may be expected to tip a certain amount at hotels, restaurants and in taxis. You might need to buy and drink only bottled water in some locations, rather than filling up at the faucet. Some meal packages may not include certain beverages, such as alcohol, which you’ll need to pay for separately. And if you plan to take and use your phone, you might need an international phone plan or SIM card.
Evaluate deals. While many travel sites and tour packages advertise discounts, you’ll want to shop around to find the best deal. “Compare senior discounts with all other deals,” says Elizabeth Avery, a baby boomer celebrating 50 years as a female solo traveler and founder of Solo Trekker 4 U. You might find a senior discount that offers 10 percent off, and another general offer that is valid for 30 to 40 percent off. For steeper deals, consider non-peak times. “The best way to get a 50 percent discount on air and lodging? Go off season,” Avery says.
Keep your health in mind. Before purchasing airline tickets, check that any mobility or medical issues you have can be accommodated. For instance, some countries do not require establishments to have wheelchair-accessible entrances. And if you need to have access to a major medical facility due to a certain condition, you might have to rule out a few places. “Upriver on the Brazilian Amazon, we were 10 hours, by fast boat, from the nearest hospital,” Avery says. “In Easter Island, there is no hospital.” Also fill all your prescriptions at home before you travel so you don’t have to pick up more medicine along the way. Check with your doctor to see if you need any travel shots before heading out.
[See: 5 Top Options for Affordable Retirement in Europe.]
Don’t pack too much. While it can be easy to keep piling clothes and other gear into a suitcase, try setting out what you think you’ll need a few days ahead of time. Then take the next days to consider what can be left behind. If you take fewer pieces of luggage, you’ll have less to tug through airports and pack into rental cars. “Pack light and bear in mind that almost every place you visit will have shops where you can pick up anything that you may have left behind,” Look says.
Think of going for a longer visit. With time on your side in retirement, look into the possibility of staying more days in a single area and fully exploring the local scene. “It is much more rewarding to go deep instead of wide,” Look says. “Your friends may be impressed by your eight countries in seven days itinerary, but you will be more rewarded and relaxed if you spend that same time in only one or two locations.”
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How to Plan an International Trip During Retirement originally appeared on usnews.com
