Retirement is a bittersweet process for anyone to undergo, signalling the end of a significant period in your life and the start of another.
Retirement is naturally a scary process, particularly when it comes to making an executive decision on the state of your finances, but it is nonetheless a rewarding time.
Retirement is a process, but also an opportunity: an opportunity to make the most of your twilight years, to connect with family, and to fulfil long-held dreams. Retirement is a time unmoored from real responsibility, and a once-in-a-lifetime opportunity to really, truly see the world. But why should you spend some of your retirement money on travel abroad?
The Financial Aspect
Indeed, financial concerns are the most common forms of concern that preclude retirees from actively seeking adventure in other countries. With the economy in decline, and with spending power still low after a year of high interest, it is understandable that many might see international travel as a luxury instead of a life event.
Still, shrewdness with money can be a habit well worth breaking – particularly if you have been relatively successful in keeping money aside. But between emergency funds, helping family and simply keeping the lights on, it can still be hard to justify splurging on a trip. An equity release mortgage could boost your holiday funds and make it easier to travel guilt-free, but those financial decisions can only be yours to make.
Staying Social
On a base level, international travel is a fantastic excuse to keep your social muscles well-exercised. In retirement, it is all too easy to settle into basic routines and, entirely by accident, reduce your social interactions to a bare minimum. Travel is an effective way to meet new people, and remain connected to people socially. You might make new friends on your journey to a new place, or you might meet them on a guided tour while there!
Bucket List
Retirement travel is also the perfect opportunity to cross some of those essential destinations off your bucket list. Everyone has a list, however long or short, of places they would do anything to see before they die. Your retirement leaves you little excuse not to visit your own bucket list destinations, whether the classic examples like the Great Wall of China or the more esoteric cultural destinations of Central America.
Health Benefits
Last but certainly not least, it is important to recognise the positive health impacts that regular international travel can have on you. Simply making the effort to travel to a new country can reduce your risk of stroke, as moving around helps you regulate your blood pressure.
Not only can you enjoy the physical benefits of keeping active and on the move, but also the mental health benefits; expanding your worldview, and encountering unbelievable sights on your travels, can have profound impacts on your mood – keeping you happier for longer.
