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Living on the Edge: Debt for Travel After 50!

Are you over 50 and feeling like life has passed you by? Do you dream of adventures, self-discovery, and deep philosophical revelations, all while sipping cocktails on a tropical beach but are halted in your dreams by the reality of an anemic bank balance? Are you yearning to travel after 50? Well, fret not, dear reader, for I have the perfect solution for you: Go into debt, max out those credit cards, and embrace a life of financial recklessness in the name of wanderlust! You only live once! Who knows what tomorrow will bring? and all those other clichés

image: Gerd Altmann - Pixabay

Financing Travel After 50

Savings? Who Needs 'Em!

Saving for retirement is so overrated. Forget about that cushy nest egg you were planning to rely on in your golden years. Instead, start planning your next grand adventure and let the allure of travel beckon you. Who cares about financial security when you can have the thrill of uncertainty?


Credit Cards Are Your Best Friends

Have a stack of credit cards? Perfect! Use them to book your flights, hotels, and excursions. Ignore the high interest rates and don't bother with budgeting. Just swipe away! The bill will sort itself out... eventually. Just think of all those travel rewards you are earning!

image: Steve Buissinne - Pixabay

Lines of Credit: The More, the Merrier

Make sure to apply for as many lines of credit as you can, and take a second mortgage on the house. To take advantage of those spontaneous life-altering, cosmic experiences requires a little extra cash. You'll thank yourself later for those spontaneous financial decisions.

image: Marco - Pixabay

Finding Freedom in Debt

Conventional wisdom might say that financial freedom comes from saving and smart investments, but what do they know? True freedom is found in the adrenaline rush of financial risk-taking. Embrace the thrill of dodging debt collectors and late payment notices!

image: Timasu - Pixabay


Epiphanies Await You

As you embark on your debt-fueled odyssey, expect to have mind-blowing epiphanies. You'll ponder life's most profound questions while snorkelling in the Maldives or hiking the Inca Trail. Who cares if you can't afford to eat once you return home? You'll have the wisdom of the cosmos!

image: Kalyana Yahaluwo - pixabay

Discover Your True Self

Debt strips away the facade and reveals your true inner self. When you live on the edge, you'll find out what is truly important in life -- like how to file for bankruptcy, negotiate with creditors, and spend years rebuilding your credit score during your golden years. The adrenaline rush of hoping your grocery purchase is approved keeps your blood rushing and your heart beating strongly.


Join the Broke but Blissful Club

Don't worry about those sensible travellers who save and budget responsibly. You'll be part of an exclusive club of broke, but blissful adventurers. You can regale them with your tales of financial recklessness while they sip their frugal coffee.

image: Jackie Ramirez - Pixabay

But seriously...

Do not follow this. Hopefully, it is obvious that putting yourself in a place of financial risk in your later earning years is all terrible advice! Affordable travel is possible while still preparing for retirement and beyond. The most sensible approach is to avoid debt, especially with retirement on the horizon. Ideally, our travel plans should be fully financed in advance but carrying a small, short-term debt that is within our means may be an acceptable strategy for some. Travel can take many forms, there is no right or wrong way to travel and costs vary widely.

A major bucket-list trip to a destination overseas will cost more than a short getaway to a local spot. A cruise will take a bigger chunk out of your funds than a camping trip. Using public transportation is cheaper than renting a vehicle. Keeping travel expectations realistic is essential to avoid financial stresses as we plan for and enter retirement.


Set a Budget

Determine how much you can afford to spend on your travels without going into crippling debt. Build in a cushion for unexpected expenses. Include the cost of travel insurance. Take time to research realistic transportation, hotel, and food costs. Pad the budget for excursions, tips, and souvenirs. Check out this post for some hints on finding good travel deals.

Save Up

We can't plan a lottery win and if you are reading this post, then it's safe to assume your funds are not unlimited and will always need attention. Start saving for your trips in advance. Create a dedicated travel fund and contribute to it regularly, preferably by automatic deposit. When it comes time to plan your travel, you can select your destination based on your available funds or choose to save for a bit longer. None of us knows how much time we have remaining on this earth, so I urge you to consider creating a trip to fit the funds available.


image: Gerd Altmann - Pixabay


Travel During Off-Peak Times

If possible, travel outside of the peak travel season, many savings are possible. Look for deals during the off-season or shoulder seasons when prices are lower. Shoulder season is less crowded and often has more pleasant weather.

Consider Alternatives

Even if your only travel window is during high season (teachers, I share your pain) explore budget-friendly destinations and choose more affordable accommodations and transportation options. Often the least expensive flights go to the popular destinations with higher costs. More expensive flights may lead to destinations with lower daily costs. Think about more than just the airfare when considering your budget.

image: Sabrina C - pixabay

Limit Credit Card Usage

Credit cards are convenient and important for booking travel but avoid high interest costs by paying off the balance. While saving, become vigilant about reducing spontaneous and frivolous purchases.

image: Jayne Simmons - pixabay

Consult a Financial Advisor

No matter what your financial situation is, a financial advisor can help you reach your goals by helping you to make wise decisions. A good advisor will help you set up a long-term savings and investment plan that will allow for travel and a comfortable retirement.

image: ThoughtCatalog - Pixabay

Remember, the path to self-discovery and meaningful travel experiences doesn't have to involve financial ruin. With careful planning and responsible financial choices, you can have amazing adventures without sacrificing your financial future. Travel wisely, and may the epiphanies come to you naturally, not through debt-induced stress! If you enjoy the content, please subscribe/become a member to be notified of new content and meander along with me. Help the blog to grow by sharing the link with a travelling friend or on your social media.

 

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12 Σχόλια


Πελάτης
29 Νοε 2023

I was worried when I started reading the article ahahah if there's one thing that scares me, it's getting into debt and mortgaging my old age, no matter what!

But then I breathed a sigh of relief and realized, as the article went on, that it was just an ironic way of putting it.

The key is undoubtedly to plan your budget with your travel expectations in mind, whether you're planning for the short or long term. Angela | Home - (blondearoundtheworldtravel.com)

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Lyn (aka Jazz)
Lyn (aka Jazz)
29 Νοε 2023
Απάντηση σε

For younger folks, there is plenty of time to set up your financial plans so you can ease into retirement but for us older folks we need to be much more aware that carrying debt is a much bigger burden and we need to be more conservative with our spending choices.

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Πελάτης
20 Νοε 2023

When I started reading your post I thought, "Is Lyn for real today?" but I kept on reading and my confusion has been cleared. I think what most people forget is, that travel is actually quite expensive and always an additional financial investment. I understand there are budget travellers out there but still, I feel that there is a big misconception of travel being "free". With costs in mind of course it's advisable to factor in which experiences are worth going for e.g. going to the same place twice or exploring a new destination. Overall, it remains a luxury and we should cherish every moment that allows us to indulge in it.


Carolin | <a href="https://solotravelstory.com/">Solo Travel Story</a>

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All good, common sense and advice here but much of it people ignore.

I totally agree and follow a lot of your suggestions already. They have saved me huge amounts of money which I can use to travel more.


I am lucky in not having to save money and possessions in order to pass onto dependants so am free to do as I please.


Like others here, I still hope every week that my Lottery tickets will finally bear fruit and give me undreamt of opportunities!

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Πελάτης
16 Νοε 2023

You had me in the first half. I was like "omg, this is terrible advice!" haha I couldn't agree more about a financial planner - finding one who values travel is important! It's a difficult balance for us in our 20s and now 30s to save but also travel!

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Lyn (aka Jazz)
Lyn (aka Jazz)
16 Νοε 2023
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Saving is more of a challenge for young people than it was for us older folks -- there's no doubt about that! Starting to build those savings is so important, even if you can only afford a small amount at first. A financial planner is essential as you start planning -- even in your 20s. I did have to "try out" several financial planners before I found the one who understood my goals and helped me to make the long-term decisions that would get me there by retirement.

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Emma Gilbert
Emma Gilbert
15 Νοε 2023

I don't know about everyone else but I'm still very much planning my lottery win. I'll let you know when I make it big. The first part of this post I kinda got sucked in, even if I had one raised eyebrow. But then it slowly started to sink in. Very funny, and leading to some really important and helpful tips. For me, the out of season travel is a big one. I prefer less crowds and I'm British living in Vancouver so bad weather doesn't

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Lyn (aka Jazz)
Lyn (aka Jazz)
16 Νοε 2023
Απάντηση σε

People win the lottery all the time... why not you? I won once... a whole $63! woohoo, I travelled to the grocery store on my winnings. Hold on to the dream, Emma! I retired from teaching 4 years ago and was blown away by the difference it makes to travel off and shoulder seasons! International travel will never be in high season again!

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