Hit the Road Smart by Knowing Which Costs Will Affect Retirement Travel

You’ve saved your pennies and dimes and now it’s time to head out on your lifetime adventure, either by yourself or with your significant other.

With the financial landscape in a constant state of flux, it can be intimidating to try and plan your grand trip (or trips). Let’s look into costs that may affect your retirement travel plans.

Fly or drive?

Plane, train, or automobile…whatever you choose, you want to make sure that you are saving the most that you can.

Planes are great for fast, easy trips, but it can get very pricey if you don’t by at the right time. Buying tickets months in advance will be better for lower rates. Different apps, such as Expedia or Travelocity, can help you to compare deals. Bundling both flights and hotels can also help you get more bang for your buck.

Trains are great for city-to-city travel and can be cheaper than flying place to place.

Traveling by car or that long-awaited RV is the quickest thing to come to mind when you think of traveling. Unfortunately, gas costs and maintenance can cost a pretty penny.

To save on gas consider opening accounts with national gas chains, such as Chevron or Sinclair, to get discounts. Also smartphone using apps can compare gas station prices on the fly.

Consider renting a vehicle to avoid wear and tear to your own car. You may have to do some deal hunting, but rental cars, like hotels and planes, can be part of a bundle.

Where to stay

Airbnb offers cheap prices for places to stay, especially if you’re willing to rent a room in someone’s home. If hotels are more your style, travel companies offer great discounts.

Again, consider bundling for your trips to help you save some serious coin.

Food planning

Eating out for just one person can vary anywhere from a few dollars to enough money to fill the gas tank. Eat out multiple times a day and you blow through hundreds of dollars in a week.

Don’t forgo meal planning just because you’re out on the road. Buy a few groceries, or, when considering your hotels, look for ones that offer free breakfasts to help skirt those expenditures.

Souvenirs, pictures and fun

Mementos are something you shouldn’t forget to budget for. Local shops and stands are always fun to visit, but they can quickly drain your wallet if you don’t set a limit on how many things you can buy or how much you can spend.

Not all mementos are little knick-knacks from your local tourist trap. Make sure that you consider the costs for taking pictures and printing, so you can have memories from your trip to treasure forever, or to spring on unsuspecting relatives when they come by for a visit.

If you’re planning fun activities, whether it’s floating a river or visiting a local hot springs, look for different discounts that could be available to you. If you do thorough research on an area before you visit, you’ll be able to plan your budget accordingly and save money.

Other considerations

Be aware of discounts. You could end up overpaying anywhere if you don’t belong to AARP or AAA. Restaurants, some hotels and even flight chains offer discounts for seniors. Whether booking a flight or a hotel, make sure you inquire to these possible discounts.

One last thing: Travel insurance, while it may seem costly, could actually be a huge benefit to you, especially with plans constantly changing thanks to COVID-19.

Last-minute injuries or illnesses are always something you should take into account, especially if you are trying to go on an expensive vacation. Consider shopping around to find different rates. If an unexpected sickness pops up, you’ll be glad that you had those expenses covered.

Recommended Articles

3 Ways to Save Money and Make Sure You Get the Absolutely Best Deal

Marketing is meant to get the word out about the "latest and greatest" products, but new doesn't always mean better. From electronics, to clothes and dining room sets, always remember,

Options: Why Buy Puts? To Make Money When You Think a Stock Will Fall in Price

Beginning options investors often struggle with the concept of put options. They have no trouble with call options. With calls, beginners usually grasp that you will buy a predetermined number

Bitcoin Zooming Higher Again. Speculation or the Future of Money?

As Bitcoin threatens to break through its record highs set a few years ago, at least some people are likely to get involved in speculating in them again. Many seem

5 Proven Ways to Earn Powerful Side Income

If you want to earn extra money with relative ease, whether it is to save up for retirement or prepare for a well-deserved vacation, one of the best things you

zto

Day Trading Now: Stock Too Expensive? Buy a Slice

The cost to build a diversified stock portfolio is often the highest barrier for new investors. The outlay required to buy a basket stocks is more than the dollars available.

Looking for Better Returns? 5 Ways to Invest in Brazil

Brazil is known for tourist attractions, its natural beauty and soccer. The former Portuguese colony is also a thriving multicultural country — a melting pot not unlike the United States.

Add Some Spice to Your Portfolio with This Consumer Staple Stock

When the vaccine results from Pfizer (PFE) were announced on November 9, it sent the stock market on a wild ride. Sectors that had been underperforming the overall market screamed

Iaccino: Market Volatility Here to Stay

Bob Iaccino, editor of the Stock Think Tank, talks about Amazon's move into prescription drugs and market volatility on Bloomberg News.

Beat the system by understanding both sides of the trade, reward and risk. Get Bob Iaccino's Stock Think Tank newsletter through this special offer.

Are Cannabis Stocks a Good Investment for 2021?

Cannabis and CBD oils are booming industries.  Economies see a massive boost of billions of dollars when these two hit the scene. From recreational to medicinal, these plants offer a

The Benefits and Pitfalls of Trading Options on ETFs

An exchange-traded fund (ETF) is a collection of assets that track specific investment categories. For instance, SPY tracks the S&P 500. ETFs can also track sectors and industries, such as

Options Strategy: Sell Covered Calls on Technology Stocks

Stock prices of publicly traded technology companies have been resilient this year. Many remained unaffected or benefited from the onset of the current crisis. Other sectors seem more exposed to

Looking for Foreign Stocks with Powerful Dividends? Look No More! (VYMI)

Declining yields on investment income products has let investors to hunt for high dividend yielding stocks to boost their income. One product that I have actively used and would like