How Much Money Does It Cost For Travel in Retirement

In this video we will explore how much money it cost and how much a person should budget for travel in retirement.

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[wisdominvestor]

What do you think is a reasonable amount to spend on travel in retirement?

[spicycopper]

For myself, I have budgeted $5k but my goal is to spend less than $3.5k. I want to explore our national and state parks as well as many other sites. My minivan camper conversion is almost completed. My vacations will be a mixed of staying in my minicamper, historic lodges or log cabins.
In a year or two, I will be visiting other countries. My bucket list is long so I need to get going.

[boblowrie]

Thanks so much for the video Richard and Sally. I really appreciate how much you care about the people you are sharing this information with. I asked a question about travel budget and a day later you did a video, thank you so much!! I am so glad I subscribed to your channel. I am 62, my wife is 59, I am not yet retired but have a conversion camper van we bought last year. We took our first trip in June to Bar Harbor Maine and that area. Hiked and had a great time. With food, gas, no hotels, cost us 1, 800. Includes excursions and really nice Lobster restaurants once in a while. LOL. I like your projection of 4, 000 to 6, 000 a year. Everyone is different but I think realistic if you plan ahead. My wife and I sold our house 4 years ago and paid for a little cottage. No debt, our yearly budget with cable, eating out, etc is 32, 000 a year. Travel has to be added in for us, thats why I appreciate your video. I am not taking Social Security yet because healthcare costs. Thanks so much!!

[cadizwilmo]

Love this video format you're doing. Thanks!

[masterlee]

It is really beautiful where you filmed this video. One issue many of us will have is the fact that our spouse cannot retire when we do. My wife is 5 and a half years younger than me. She is not letting me go on any trips alone lol. Her and my youngest son who is 16 just went to Orlando Florida for a week. They went to Universal Studios, Sea World, and Disney World. My younger days that was fine with me. Now that I am older standing in long lines with a 100 degree heat index is not my cup of tea. I think using the 4 seasons to plan is an excellent idea because planning around the peak times or weather can really help cost wise, and weather wise. I also think sitting down with your spouse is a great idea so that you are both on the same page. There was a time I wanted to visit New York I think because of the "Sleepless in Seattle" movie. My daughter has been there twice and after seeing how much it costs, well I have no desire to go there anymore. I think planning one main trip a year is fine with some mini trips in between, sort of how ya'll are doing it. Great Video.

[sfcrmsa]

Thanks Richard and Sally for this great video and commentary as always. I can appreciate what Sally was saying about travel, expenses and destinations as a couple. You both have to be on the same page about expectations. That is great that you ‘snow bird’ in Mexico, that is my plan as well when I retire in a few years. When you are retired, you can pick the times you want to go. I tell people to stay close to home around the holidays with family or friends and travel outside these busy times to save the most $$. Many free or inexpensive options that you can enjoy your time in retirement, you just have to be resourceful.

[masterblaster]

I love this, thanks Richard! For us when hubby and I retire, we’re thinking one big budget vacation each year plus a sprinkling of mini vacays until travel budget is depleted 😊. Great ideas on cheap/free stuff to do, Sally👍

[notmychinchilla]

We are set to retire this year. Budget includes $7, 000 per year to travel. Every 5 years we will budget $10, 000 between ages 55 and 75 for larger trips. This budget also serves as a bit of a cushion to weather unforeseen expenses.

[williammccaslin]

I've been traveling since I was 17 in the mil, an for work for the last 40 yrs, now I'm done. The only traveling I'm going to do is at home in my home state of Fla. Fishing, hunting, camping an site seeing here, Oh an outrunning hurricanes, that mite require some traveling to, lol. Thx for the vid.

[erinaustin]

I want to go on this hike! What is the hike called? I live close by and grew up in SW WA and am not familiar with this hike. It looks wonderful.

[keith]

Your description of the “go go years” tells me that you probably use Right Capital software planning. I would like to get that but it seems it’s only available to financial advisors and their clients. Do you have a source where an individual could get this?

[chessdad]

I am working this last year mainly to stockpile money for traveling in retirement. It is possible I may work part-time while traveling which would help fund it. I'm able to work remotely so this could be an option. My travel budget is going to be HIGH! LOL. Whatever is left after dividend income + SS + part time income - living expenses.

[johnurban]

I’ll be retiring soon. Should I change my IRA to index funds?

[RealSlopeDude]

Your video and audio are somehow not in sync. Otherwise, the content is good.