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How Much Do Retirees Spend On Travel

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How Much Do Retirees Spend On Travel

Recent surveys suggest retired people spend on average $11,000 per year. How do you compare, we reveal what our travel budget is and how we came to this amount.

We also discuss the various options for travel from cruises to long term winter breaks as snowbirds. We quote real figures for spending the winter in Portugal.

Getting on email lists to find travel bargains, we buy city breaks of seven days which includes flights from Canada to popular destinations like Edinburgh, Scotland, Iceland and the Azore Islands, for remarkably cheap prices.

WE ARE NOT FINANCIAL OR INSURANCE ADVISORS, WE ARE NOT QUALIFIED TO GIVE FINANCIAL AND INSURANCE ADVICE, THIS VIDEO IS FOR INFORMATION AND ENTERTAINMENT PURPOSES ONLY. PLEASE SEEK OUT PROFESSIONAL FINANCIAL AND INSURANCE ADVICE BEFORE MAKING ANY INVESTMENT DECISIONS AND PURCHASING INSURANCE.

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37 COMMENTS

  1. Hello, I wanted to reach out and say many thanks for your informative videos. Love the calm, relaxed and quiet manner of both of you. I retired at the beginning of 2020 and had so many 3 major trips canceled, but managed to travel from California to Iowa to see family. Last year we made a couple of trips to Roatan and Isla Majeures. We have no idea how much to spend in retirement so what percentage of your lump sum is your travel budget of $25,000 per year or $250,000? Just so we can compare more directly. Thanks so much. David

  2. I know you have to be comfortable to start back up. My brother and his wife have been on 4 cruises since they opened back up.
    Everyone has to be vaccinated and pass a covid test so many hours prior to their boarding. It is as safe as can be. You guys are in great shape and on all the cruises my brothers been on no one has acquired covid. I just hate to see you guys giving up so much you only have so much time left to enjoy your life's. Take care!

  3. Since my wife finally retired on April this year, we sold our Chicagoland home and moved down to the St. Augustine area (Northern Florida) – but we are just renting a house. This month I was given the permanent residency in Panama so we are planning to spend Florida's hot and humid months (i.e. hurricane season) there and start the process of residency for Emma as well. (It will allow us to embrace the culture and the language.)
    Note that from Orlando Intl Airport to Panama City is only a 3.5 hour flight and from there to Guayaquil, Ecuador about 2 hours.
    As a result, we decided to use Panama (also renting there) as a springboard to exploring Ecuador, Peru, Chile and Paraguay but we will know more if the actual costs will match the $11,000 per year budget after the proverbial 'dust settles'. Both wifey and I truly enjoy your videos… 😀

  4. I think it’s fine to start travelling again. We’re in Albufeira for 4 weeks and loving it. Maybe it’s not as crowded as it usually is this time of year although it’s still shoulder season but everything appears open and the weather has been heavenly. There’s lots of Brits here and the odd French or German but not many Canadians or Americans. And have yet to come across another Australian 🙂

  5. Hi guys. Great video as always. Our travel budget is around the Canadian average you mentioned. Pre Covid (😡😡) we would typically spend a month in Hawaii (splitting the cost of a condo with my wife’s sister) and another month in the summer doing a long road trip in the US. In April of 2020 we had booked a beautiful cruise through the Panama Canal. Obviously we had to cancel because of the pandemic. Princess gave us a full refund ($10,000) and a voucher for the same amount for a future cruise. We have rebooked a Mexican cruise for late December of this year, which is going to cost us nothing. Fingers crossed on that one. We are about your age and want to travel while we’re able. Losing two years of travelling hasn’t been easy, but we tried to make the best of it. Cheers, looking forward to your next video.

  6. Good Morning Norm and Tina. This is my 2nd time watching the same video. I guess I don't budget. I just spend what I need. After 2 years of non traveling, I plan to treat myself to a luxury tour on SilverSea or Regent for 24 days in Europe next year. I am thinking of staying in Porto and Lisbon for a month or two. Do you use airbnb? Any nice area you would recommend and best months to go? Thanks again for your energy and smile.

  7. I think maybe great advice for N America residents, and generally good to make the most of opportunities, though probably much easier for Europeans who can travel to many continental countries much less expensively, especially last minute travel (which can be spontaneous and very interesting). Quality and destination can still be first class … arrived in Malta for a week at top hotel and extended to two weeks at a modest cost and low cost change to budget airline return date. It would have been just as easy to get the ferry to Italy for an extra week or two. For Europeans I think flexibility and imagination are key to making the best of travel and holidays.

  8. Everything costs more now. May have to look at the discount travel adventures and explore the Azores and Algarve. Had some Portuguese tarts from the Waterloo Market on Thursday. The Thursday market is a great outing and not crowded like Saturday.
    Thanks for the great tips. Travel safe.

  9. Tina and Norm, want to feel safe on a cruise? Go on Viking. We went to/ around Iceland (one country cruise) last summer. The protocol on Viking…1)no kids (who could not be vaccinated) 2) everyone had to be vaccinated 3) daily Covid test 4) contact tracking. 5) verandas (fresh air) 6) Filtered air and UV cleaning robot. Small ships (fewer people) . We felt safer on the cruise than in our own community. Yes Viking isn't cheep, but… well… you get what you pay for.

  10. Portugal awaits. I'm with you on the cruise feeling. Just seems less safe than a flight, being with the same people for shorter period on the plane. My only long haul on the ocean waves was in 1967 between Auckland New Zealand to Rotterdam via the Suez canal ( just prior to its closure during the war there). I love road trips ( as you may have read) and short flights are OK – though the proces due to the recovery after the pandemic and now the oil shortage due to the devastatingly sad and diabolic situation in the Ukraine. Now I have written that traveling plans seem so trivial. Enfin, life does go on and we are allowed to embrace it. Enjoy the week ( and the trailer?) Have fun. ✈️ 🍷 🤩 💖 🇳🇿 🙋‍♀️ 🇳🇱

  11. I wasn’t useing all my travel fund so I started flying business class with the excess. It has totally changed my enjoyment of the holiday I even look forward to the flight home. 😎😎😎

  12. I got brave and took a cruise with a friend last month while my husband stayed home. It was wonderful to get back to a near normal. Well, I got Covid the evening that I departed. Thanks to my vaccinations and booster, I have had colds that were worse. Would I do it all over again… Yes!

  13. Great information, guys ! Somewhat "shocking" but very interesting. 😁 Thanks ! More detailed information on travel companies, etc. would really be of benefit here, as you guys have definitely made some great decisions. 🤠😎❤

  14. Love your videos! You two are so positive and always wear nice shirts 🤗 We have no travel budget, sort of because Covid interrupted our plans. So I just decided for this year we would spend a little bit traveling. first trip is next week! yay!! Thanks again for your upbeat and informative videos. 👍

  15. Some tips on how you find these bargain vacations would be very welcome. Also perhaps sometime you could talk about solo travellers and how they cope. Are there ways in which solo vacationers can be matched up with each other? I have a bucket list of places I’d like to see before it’s too late but it all seems rather lonely and daunting. As the great comedian W.C. Fields once said “I’d like to see Paris before I die. Philadelphia would do”.

  16. Thank you Guys, great info as always. My husband is retired, but I am still working and making about 100.000 CAD a year. So we are planning our travel budget at 50-60.000 a year. Do you have any recommendations for bigger travel budget? We still want to spend wisely and have fun for every dollar spent 🙂

  17. For those wondering: 25,000 CAD is ~ USD$19,375.56 per year.

    Tina and Norm: your budget is very close to the budget my wife and I set: USD$20,000 per year for 10 years. This is completely separate and supplemental to our annual budget. We also created a separate "discretionary" budget each year equal to 1 month's expenses for special / unplanned events which could be anything from a new roof or special assessment to something more fun like a destination wedding for someone's child we know.

  18. Very interesting to hear so many differing opinions on
    how to travel.
    My moto has always been travel cheap and stay cheap. Spend money on the things I enjoy, like local food and wine, tickets to the Opera and music, theatre.
    Read up on history in advance gives better understanding/ enjoyment of where you are.
    Do the energetic travel first, the cruising comes later.
    Great enjoyment to be had meeting like minded people, I always learn a lot by listening to others.

  19. We're in central Florida and things are opening up here again. We can afford a week-long cruise and a short vacation every year. We go dancing twice a month at at local restaurant that has wonderful live bands and take trips on Sunrail that now reaches from Daytona Beach to Poinciana and will go to Disney in a year or two. Our local senior center is doing trips again and we've got a great happy hour at our favorite restaurant. I think the secret is to be in a place with enough offerings nearby.

  20. Travel budget?
    Zero and it's looking like a week away camping for me and a couple of nights a few hours away for both of us might be about it this year.
    We've never been interested in travel but we have been making our home more pleasant and the fact that we live in a top tourist area as well is nice.
    There are some places I wouldn't mind seeing but the effort and cost involved mean we can't be bothered.
    It's nice that every day is a holiday if you live in the right place.

  21. Wow I am so shocked at the average travel budgets… That's what i would spend in a normal year when working.. when i retire i would expect to triple it not do the same. Like you we plan to take much longer vacations and travel further afield. I am looking forward to our first cruise!!! Tina and Norma when staying away for a longer period do you sublet your appartment if so any advice on this

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