The thought of travelling after retirement is the goal of many people. Why not? You’re no longer working, so now’s your chance to see the world! But are you ready? There are many things to consider if this is what you’d like for your future years.
There are many considerations to look into, but the biggest one is most likely finances. Do you have enough money saved, or coming in, to travel in comfort? If not, you can start now to create an ongoing income for later.
Let’s look at how to retire and travel with your passive income! Yes, passive. Wouldn’t that be great!
If you’d like to read about where I learned how to build my passive income, CLICK HERE.
What Is The “Retirement Dream”?
My dream was for us to quit work, pack our bags, and go! Like most retirees (and pre-retirees), we all look for the same four goals:
- Family Time
- Leisure Activities
Doesn’t that sound heavenly? And for more interesting statistics, 39% say they want to volunteer, 11% want to start a new business, 7% want to start a new career, and 6% want to go back to school.
Granted, some decisions made might be to generate more income due to health care costs, lack of government assistance and inflation. But surely not all. It’s exciting to see people wanting to start over and run after a dream they may have had earlier in life.
And did you know that most retirees preferred enjoyable experiences over buying things?
That’s where travel comes in. Do you really want to travel, or just vacation? Personally, I’d like to take Long Vacations, lol. Selling everything and taking on a lifestyle of travel does sound exciting, but I’d miss too many things at home.
Budget-Friendly Vacation Ideas
Being able to travel in luxury sounds great, but many of us will have to look into some budget-friendly travel ideas. And fortunately, there are many ways to travel and keep the costs down. Here are a few ideas for you:
39% of you wish to volunteer anyway, so why not do this on your vacation? This is a great way to see the world and learn more about its people and lifestyles. There are volunteer vacation opportunities all over the world. And a set price would cover your food, lodging, insurance, transportation, everything. Here are some sites you could check into:
- Volunteer Forever – This company has, among its many programs, one for people over 50. What an awesome way to travel the world and be able to make an impact on the community you are serving. You can be involved with animal care, medical care, work with children, or businesses. There are so many choices.
- Projects Abroad – Here, you can choose a Flexi Trip which gives you more flexibility and independence, or choose the Grown-Up Special and work alongside other volunteers of similar age. They offer construction projects, work with children, or even animal rehabilitation in the Amazon rainforest. And if you’re qualified, they always have opportunities for doctors, nurses, dentists, vets, and the like.
There are many such opportunities online. Just search “volunteer vacations for retirees” and you’ll find many.
#2. A Repositioning Cruise
Did you know that some cruise lines offer discount trips when they need to move from one port to another? These are usually off-season and don’t return to the port of origin, but they do make stops at ports along the way. All you would need to do is arrange your flight back from a different location.
- Roaming Around The World – This is a great blog that tells you everything you need to know about repositioning cruises. I have to admit, I hadn’t heard of these before now, and they sound FANTASTIC. A luxury vacation for less than $50 a day? Sign me up!
#3. Swap Houses
There are many like you who wish to travel, but still have a home that needs tending while you’re gone. So why not help each other? Not only will this save you thousands, but you’ll have peace of mind.
- International Vacation Home Exchange – You can feel secure about choosing the right member to exchange with. They have a 4-star exchange verification process that ensures each member meets certain criteria. Just search for a home in the part of the world you wish to visit and make a swap.
#4. House Sit
There are people all around the world who want to travel but have animals that’s need taking care of at home. Did you know that you can stay in their home for free if you’re willing to pet-sit? Your love of pets and desire to travel can come together to save you much money.
- Trusted Housesitters – This is an amazing site to look for house sitting jobs. Look up the location you’d like to visit, then meet the house owner and their pets. If you make a good connection, you may even set up regular visits. It’s a great way to see the world while helping out someone else.
#5. Work As You Go
For those of you who want to vacation for much longer periods of time, you can always work in the different locations you visit. Some ideas would be teaching English in foreign countries. Other ideas could be blogging as you go on your already monetized website.
You can also continue working as the Virtual Assistant job you had at home. That’s the nice thing about working online. As long as you have an internet connection, you can work anywhere you travel.
Are You Ready To Travel?
I always thought about world travel as just a dream. Did I really think it was possible? Realistically, no. I began to realize that retirement was looking more like working part-time to keep up with expenses, lol.
Reality sucks sometimes. We had a financial adviser who told us what he thought we needed for retirement. Unfortunately, it isn’t enough. And when you work in the private sector with no pensions, all you have to look forward to is your savings and any government assistance.
According to a 2018 Retirement Preparedness Survey, by Prudential, income is becoming less predictable, health costs are increasing, and so are lifespans. So any savings you have must last, and last longer than before.
Their survey of 1500 people ages 21 to current retirees showed:
- Over half of pre-retirees understand they’ll have to work full-time or part-time after they retire.
- 40% of pre-retirees have no idea how much income they’ll need for retirement.
- Each generation since the Baby Boomers is investing less towards retirement assets.
- 30% of Millennials say there’s no point in planning for retirement because anything can happen between now and then.
- When asked, Generation Xers have a higher expectation of what’s needed to retire but have a shorter time to prepare. Gen Xers feel they need about $2.5 million, whereas Millennial feel they only need $1.1 million.
- 51% of current retirees retired earlier than they expected. So all generations of pre-retirees should prepare and expect the unexpected.
Retirement comes much sooner than you think. The years fly by and can catch you unprepared for your future. Believe me, I know the feeling!
The “Retirement Dream” that was once envisioned is becoming more elusive.
The one lesson today retirees would tell the younger generations is… start saving for retirement by age 40! I know what you’re thinking, that you have debts. You can’t start yet…
Did you know that pre-retirees are more likely to base their retirement decision on their money saved rather than age? 50% of the Gen Xers and 66% of Millennial say they’ll retire when they have enough money. They believe its more important to pay off debt than save for retirement.
I’m in no position to argue, but all I can say is that there’ll always be debt, but your retirement is inevitable.
Take a look at the expected sources of income for each generation…
The younger pre-retirees are very unsure about their future.
- Only 71% of Gen Xers and 51% of Millennials expect to receive government assistance.
- Only a little more than half expect to have a savings account.
- Very few expect to have any pensions funds.
- And overall, 51% expect to work full-time or part-time to create enough income to retire.
How Do I Prepare?
Here’s someone’s idea of a perfect retirement day… haha!
Personally, I’m on the cusp of the pre-retiree Baby Boomer, looking to retire soon. I’m not sure I want to start it the way the fellow in the video did, but I do want to travel. So I took things in my own hands, did some research, and did something about our readiness.
I decided to create my own passive income.
A passive income is when money keeps coming in, even when you sleep! And when you have a passive income, the doors start to open and you have the freedom to pursue your dreams.
Are you wondering how to do this? It’s not difficult, really. It just takes some time and commitment. Let me show you…
Have you heard of online affiliate marketing? This is when you create a business around an interest or passion you have. Start by creating a website (don’t worry, this is the easy part), then blog about the niche you chose, and help people with their problems.
When you spend your time helping people, they’ll start to trust you and follow your recommendations.
Then the best part happens…they agree to purchase your recommendations!
When that happens, they click on your affiliate link (in your article, which may say “buy here”) and they are sent to the retailer’s site. When they’ve made the purchase, the retailer can tell it was you who sent them the customer, and they pay you a commission.
Isn’t that great! You never have to store inventory or deal with refunds and customer service. All you do is promote the product or service, and get paid when you send the retailer a new customer.
Can you see how this becomes passive? That one article you wrote can bring in customers time and time again. So for the work of one article, you could have hundreds of future customers, and more.
The more articles you write, the more traffic you attract. You can also scale your business even larger by promoting your products on social media, through email marketing, video marketing, and many other strategies.
When you create an online business, you can take it with you when you travel.
I know you can do this! I started in my 50s and now I can afford to travel with my husband…if he ever retires, haha. It’s not difficult, just time-consuming for the first while.
Can I make you a recommendation?
Rather than spend all your time researching how to do this, and possibly getting scammed in the process… yes, I got scammed a couple of times and it’s not fun… I’d like to save you time and money and ask you to come see me where I run my business.
This is by far the best platform online today, for training and tools to get you started. I’ve been there for years now, and have no intention of leaving. There is always something new to learn, and I love to help other beginners.
The best part is their community. They have over 1 million members with many people logged on each and every day. I’ve made friends around the world and we chat often. Speaking of chat, their’s is live. It’s like a phone call but in text, lol.
So besides the exceptional training, you have support every minute of the day. And I’ll be there for you too, as long as you need me.
If you click on the picture below, you can read all about it. The starter membership is free with no strings attached. I look forward to seeing you on the inside, and you too can create your own passive income!
Are you retired yet, or simply looking forward to it? It can be both exciting and scary, isn’t it? Let me help you erase any fears, and look forward to a retirement of freedom and relaxation.
If you have any comments or questions, please leave them below. I’ll get right back to you!
4 thoughts on “How To Retire And Travel With Your Passive Income”
I read somewhere that most people will work their whole lives and still will not have enough to live comfortably in old age.
It seems pointless to work for other people if they are not paying you enough to invest in your own nest egg. I am very against working for others if there is a way to work for yourself and achieve a comfortable retirement plan.
Thank you Suzanne for your insights and research here.
Hi Phil, and you’re so right. It’s a shame people can’t earn enough to invest in their future.
With lifespans getting longer, we have many more years to enjoy retirement.
This is why I’m here to help people. There’s a way we can prepare and live comfortably with a passive income. After working hard all our lives, we all deserve a stress free retirement.
Thanks for commenting,
Hi Suzanne, very true that people want to retire but have no plan or what to do after.
Some people work until they are not able to retire or retire to be a patient. Life is really short and need to be enjoyed.
I am glad you made a decision to create a business that will provide you with passive income while you do what you love and relaxing. Sounds like a dream but is real for those who plan for it.
Thanks for sharing this wonderful information.
Thank you, Ginao, for your comment.
You’re so right. Many people don’t have a plan. Or do, like myself, but it wasn’t enough.
With the technology available to us now, and a proven platform to show you the way, anyone can prepare for their retirement. I’m proof that it works. If I can do it anyone can, lol.
Once my hubby finally decides to retire, we can relax and not worry.