How to Travel the World without Draining your Hard-Earned Retirement Savings

You have worked hard for years and have reached retirement. As many folks do, you have some ideas of how you want to spend your time now that the time is your own. If your plans include traveling the world, this time is both exciting and perhaps a bit nerve-wracking. You want to have the experience you have been waiting for, but are nervous that you will spend too much of your retirement savings. Fortunately, there are ways to travel economically, that will allow you to experience what you have been looking forward to, without your hindering the rest of your retirement.

How to Travel the World without Draining your Hard-Earned Retirement Savings

#1: Determine Exactly Where you want to go and the Cost to Get There

What does traveling the world mean to you? Which cities and countries are important to you to visit? Make a list of the places you want to see. Also consider how you would like to travel; would you like to take one long trip where you go from place to place? Or would you like to see a part of the world, come home for a bit and then travel again? Make sure to have a good idea of what you want to do and how you want to do it. Otherwise it may be easy to waiver and include places you were not necessarily interested in visiting.

#2:  Get an Idea of the Cost to Travel to and Spend Time in the Places you choose

Price flights to the places you want to visit; whether from your home or from another place you plan to visit. Make sure to learn which airlines provide service to where you intend to travel so that you can compare the cost for each carrier, not just the different flight days and times. Remember that the cheapest flight may not be the best option. If it requires multiple flight transfers or long layovers, you may wind up with less time at your destination.

Cost of living calculators are great to help you tally the approximate cost of staying in a particular place for a certain amount of time. You can try Numbeo by clicking here. These calculators are great and will give you an idea of how much you are looking at having to spend for all aspects of your trip to that particular place. This will be very helpful when planning your trip as you try to decide how long you will stay in each place.

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