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Travelling the world post retirement

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Travelling the world post retirement
November 05, 2018
We all have travel plans. While some are able to fulfill them during their working years, often we have to keep aside the plans due to lack of leaves or financial turbulence. Travelling post retirement can be akin to fulfilling your dreams in retirement phase. And, what's the harm in planning a retirement travel instead of just getting bored at home?

However, before planning such a retirement travel plan, you have to consider a few things.

  • Are you ready to go for it? Keep yourself mentally ready in order to take the plunge. Be it a short holiday or a year long sojourn, have your priorities set.
  • Do you have the money to finance your travel? Travel is expensive so you have to keep your monetary aspects in check. If that calls for looking through all your savings and investments, so be it.
  • Do you have any obligations at home? A child's education or marriage, an ailing parent to look after, or even helping the spouse with chores -- obligations can be any at home. You need to demarcate or assign the tasks to someone so that your absence isn't a hurdle for the people at home.
  • You love to travel or is it just another way to pass your time?

The above pointers will help you assess how you need to plan your travel. Whether there has to be an early on investment or can you do it any which way possible. The biggest and foremost concern for you should be to have a retirement income plan. Have a look at all your retirement savings plan and accordingly plan your travel. You obviously might not have a retirement plan for frequent travel, here is where the following few pointers can help:

1- If you are looking to travel for almost a year or so, you could start with either renting out your house, or selling it (though this should be your last choice if nothing else works)

2- You can choose to volunteer at places you wish to travel. It could be in the form of helping in the garden, or teaching people some of your skills. Whatever you get paid can help you tide over your food and lodging expenses.

3- You can even opt to work as your travel. Take up some consulting or freelance roles that can help sail through the travels.

4- If selling your house isn't an option, you can opt to rent it out for work purpose on lease.

The above pointers might make you think again before taking that globetrotting experience, and hence, we would say you might opt for some financial advisor's help so that you know what decision to take and how.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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