Senior adults have more time to take vacations and everyone needs a good getaway.
If you’re like most Americans, you’re taking fewer vacations and limiting your travel. And if that’s the case, you’re missing out on the health benefits a getaway can provide. Beyond the relaxing effects, a vacation can also reduce your risk for heart disease and improve your performance at work. So if the idea of taking some time away sounds appealing, start your planning and budgeting now to get that long-awaited vacation on the books.
Narrow Down a Destination
Before you can budget, you need a spot in mind. Maybe you’d like to visit a popular domestic destination like California, Texas, Florida or New York. Or maybe it’s a bucket-list type of location like Ireland, Fiji, Bora Bora or Australia. Vacation costs can vary widely, so determine where you’d like to go and how much money you can expect to spend.
Start a Travel Fund
Set up a dedicated savings account for your travel fund. Schedule regular transfers or have a portion of each check or deposited directly into the account. Stay motivated to save by putting images of your vacation destination on display and looking up fun activities or relaxing locales.
Boost your spending power by finding ways to save on expenses. Sign up for deal alerts from airlines and travel companies. Consider traveling in the off-season, and make the most of travel reward points. Pool or borrow points from a family member, ask for travel upgrades if you have gold or platinum status, and watch where you book — some rewards programs offer more points when booked on specific sites.
If you start planning and saving now, you’ll enjoy the physical and mental rewards of your dream vacation in no time. Plus, you can always leverage the value of your home with a reverse mortgage solution. Imagine your house paying for your vacation.
Find out more by talking to one of our reverse mortgage professionals at 800-676-5619. We would love to help you reach the destination of your dreams.