麻豆APP

I sat on the deck on the morning of my first retirement day, sipped a cup of coffee, and wondered what the future would bring. 

Like other retirees, I had big dreams and little fears, and no matter how much I planned鈥娾�斺�奱nd I did plan a lot鈥娾�斺�妑etirement was still a big amorphous blob of mystery.

Most of us consider retirement as the liminal moment that represents a bright line between our allegiance to others and our allegiance to ourselves. That day, for the very first time, I stood on my side of that line and admired the newfound freedom that looked back at me and asked: 鈥淲hat do you wanna do today?鈥�

A million things immediately came to mind鈥娾�斺�妕oo many to contemplate鈥娾�斺�妔o I took a walk, read a book, napped, and cooked steaks on the grill. It was the best day I鈥檇 had in years.

I wanted to travel:

Travel is expensive, and when the paychecks stopped, I got nervous. Some people blow their wad on The Great European Adventure, but we doled it out slowly, with trips to nearby mountains and islands (we live in the Pacific Northwest on one of the San Juan Islands).

When the winter came and the pandemic eased, we tripped down to the warm (and inexpensive we thought) beaches of Zihuatanejo Mexico for three weeks. We lived on fish tacos and cervezas except for the resort week when the kids came to join us 鈥� that was wine, lobster, and massages (kids are worth it). It would have been a reasonable cost overall except I caught COVID and had to pay for two unexpected weeks of food and lodging.

To round out the first year, we went skiing and boating. We rented kayaks, went fishing, and crabbed. We drove around the country, explored Canada and the east coast, and stayed with friends and family to keep the costs down.

The second year, we flew to Dallas and Arizona for more exploration. We drove to California and rolled slowly past the first home we purchased after we married thirty-two years ago. A poignant moment indeed.

We took another long vacation to Belize where we enjoyed snorkeling, swimming, seafood, and beaches. I fulfilled a lifelong dream to climb the pyramids of Tikal and hear the howler monkeys in Guatemala.

Next year we have big plans that might just become our Great European Adventure.

Travel costs in retirement:

Some experts say that one spends ten to thirty percent less in retirement, but don鈥檛 believe them. Our travel costs alone amounted to almost twenty percent of our entire annual budget, and most of our other expenses remained at prior levels.
Both years we spent more than we鈥檇 planned.

A more accurate way to look at costs in retirement is to expect to spend 10% to 20% more in the first few years than you spent when employed. Those early years are the most active years, when you鈥檙e pursuing unrequited dreams and catching up on those activities that you put off for the future.

Retirement is the only future you have left, and if you don鈥檛 enjoy it right away, you may never get another chance.

According to more reasonable experts, after the increased expenditures the first few years of retirement, expenses will decline year over year for the majority of your retirement.

If you鈥檙e planning to retire, and you鈥檙e an avid traveler (or plan to be) like my wife and I are, be sure to account for the bump in expenses for the first few years.

Reflecting on the first two years:

It took three months to convert my initial anxiety into enthusiasm. After that I had my days arranged like clockwork, so they鈥檇 include hobbies, writing, exercise, and socializing. Travel planning bubbled to the top of my priorities, as did financial awareness and prudence.

Two years into the adventure of retirement I feel like I have it figured out.

The initial excitement (they call it the 鈥淗oneymoon Period鈥�) is waning, replaced by a sense of relaxation and contentment. It looks like I saved enough money to enjoy a conservative set of hobbies (no yacht for me), and frequent but modest travel.

What do I recommend? Talk to a professional financial planner to ensure you have a comfortable financial cushion. Stay current on technology because the future of travel will rely heavily on self-research.

When you decide to retire, watch your finances closely.

Travel as much as you can afford. Find inexpensive options like low-cost destinations (Mexico, Central America, Thailand, Portugal, Vietnam, Malaysia, and more) and consider using locally guided tours like those that DiscoverWalks offers.

Remember: The less you spend, the more you travel.