How to Afford Travel in Retirement

Описание: In this episode of Blue Collar Wealth presented by Stone House®, join Bob Brown, CFP® as he runs through a few smart ways to afford travel in retirement. Many retirees have one, two, or even several “trips of a lifetime” they’ve been waiting to take until they finally have time to take them. Now, let’s talk about how to afford those trips so you’re not concerned about money while you could be relaxing in or exploring that dream destination.

A few ways to afford travel in retirement:
1️⃣ Downsize Your Home: If you’re an empty nester living in a large house, selling your home and buying a smaller one can be an excellent way to save money. Do you really need 3, 4, 5 bedrooms now? Maybe not.

2️⃣ Rent Out Your Home: Running around the country, or globe, while one of your largest assets sits EMPTY? Renting out your home while you're away is a great way to earn extra income to fund your travel adventures.
Or flip this the other way. Consider owning two homes or properties; the one you live in now and a property at a location you always like to go to visit. IF, and that’s really important… IF you have the means to buy a second home, do the numbers make sense? If you can buy the condo, for example, then rent it enough weeks during the year to comfortably cover the debt on it (including mortgage payments, taxes, HOA fees, cleaning and property management costs, etc.) then you might want to consider using “other peoples’ money” to fund this option for you.

3️⃣ Home Exchange Programs: You might also consider another tactic here, which is swapping your home with some else’s in a destination you’d like to visit. HomeExchange.com would be a site you could visit to look around and consider this option. These programs allow you to swap homes with someone in another part of the world, allowing you to experience life like a local.

4️⃣ Travel Off-Season: Prices for flights, hotels, and activities tend to be lower during shoulder seasons or low seasons. Not only will you save money, but you’ll also avoid the crowds that come with peak season travel.

5️⃣ Work While You Travel: If you enjoy meeting new people and experiencing new cultures, working while you travel can be a great way to afford your trips. There are many opportunities for retirees to work abroad, such as teaching English, volunteering, or working in the hospitality industry. You can also look for seasonal work in your destination, such as working at a ski resort during the winter months.

6️⃣ House Sit for Others: House-sitting is another great way to travel affordably. There are many websites that connect homeowners with reliable house-sitters. You can often stay in someone's home for free in exchange for taking care of their pets and plants while they're away. This can be a great way to experience new places and meet new people while saving money on lodging.

7️⃣ Use Travel Discounts and Rewards Programs: Leverage programs provided by airlines, hotels, credit cards, and travel companies like AARP, AAA, and the National Parks Service to save on every trip you take.

Learn more at https://www.stonehouseretire.com/blue...

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