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Old 01-26-2014, 08:27 PM
894 posts, read 751,012 times
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What are peoples thoughts on this?

I obviously realize that a lot of this depends on how much one has saved already and to what level would you reduce your future retirement savings in order to travel but I'd like to hear what people think about this.

I think we've all seen the people who work their butts off all their life so they can get to retirement only to die shortly after or get sick or in poor health and not be able enjoy their later years like they planned.
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Old 01-26-2014, 08:36 PM
Location: Cold Springs, NV
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If you have in excess of 2.5 m go ahead, otherwise you better stay home.
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Old 01-26-2014, 08:38 PM
Location: Port Charlotte
3,927 posts, read 4,977,547 times
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Put at least 5% back in a IRA, 401K. Pay off your debt, starting with credit cards. Once they are paid off, only charge what you can pay off in 3 months or less. If you have a house payment accelerate it by adding 1/10th of the payment to the principle. That will cut 12 years off of a 30 year mortgage. When you have 6 months cushion in savings, not counting your IRA or 401K, then consider travel.

The key is to get to a cash situation instead of a debtor situation. You get there, then you can travel, knowing you are not adding to your debt, but able to pay for it cash, and you will feel much better when you travel.

Tis may mean delaying your significant travel plans for a few years, but it will be worth it in the end.
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Old 01-26-2014, 08:50 PM
Location: Albuquerque NM
1,722 posts, read 1,612,699 times
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There was a recent discussion on best time to travel:


My vote was to travel after retirement because my job makes it difficult to take time off.
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Old 01-26-2014, 09:35 PM
894 posts, read 751,012 times
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just to clarify, I'm not necessarily talking about myself on this just discussion.

However, regarding my situation I am self employed and extremely flexible in when and how long I can be gone. My wife has a great employer and can come and go pretty well but not as flexible as me.

we are mid 40's

I have no debt other than my house but have a good amount of equity and am on schedule to pay off the house by late 50's but think I will be able to do so earlier.

I do have a $1,500 pension coming at 65 for a previous job.

My thoughts on the subject are that I USED to think "wait until retirement". I am now more willing to go ahead and enjoy life a bit more now. I don't mean go crazy on lifestyle, I'm talking 1 good exotic vacation per year and another vacation each year that isn't near as costly. Most likely within the US.

I do feel confident in my saving ability and other investments that I'll be fine but I probably worry more than most people about these things....I just have got to the point where I want to experience the world while I still can.
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Old 01-27-2014, 04:39 AM
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We traveled during our work life. It was a good thing since my knees made it more difficult as we got to 60. (now exercising and have taken care of that problem.)

Benefits: We got to take wooden train cars in England in the early 80s. Got to see Egypt in 95 in a quiet period. Got to see India before the massive changes. In fact, we spent the whole short Gulf War I in India. Traveled all over Europe at various times.

Note: We balanced life, debt, travel, etc. Did not do overseas more than once every 4 or 5 years. Saved our money and traveled cheap. Hardest part was saving up enough leave and convincing boss. So glad we did it because the world is changing so fast.
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Old 01-27-2014, 05:29 AM
674 posts, read 579,880 times
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My father was forced to early retirement due to cancer at 62, he was gone by 66. My MIL and FIL where both so ill by the time they retired that the only travel they got to do was back and forth to the hospital and doctors. Both of them were gone by 70.

The average 70+ person is not traveling all over the world, are there exceptions, of course, but that is not the average. I know that I need 3-5 million in the bank, so that I can sit at home and watch it grow..sarcasm.

Plan for the future, but live life now.. None of us knows what tomorrow brings,
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Old 01-27-2014, 06:55 AM
Location: Maryland
1,534 posts, read 3,837,043 times
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My $0.002 opinion:
IF - and that is a big IF, one has a solid financial plan going forward, currently has significant (using a mid-40s life point) savings/investments/reserves, etc. - then go for it now! Travel, especially to the more exotic locales, can be physically demanding and its common sense to do your rambling as early as one can.

As one ages and the typical physical afflictions thereof arise, your choices of travel adventures will shrink accordingly. Climbing a pyramid is not for the weak kneed, bad hip or short of breath types. More than a few stellar attractions around our planet require a serious degree of physical fitness to experience (and many remote places don't have elevators ) - hence my advice - sooner is better, much better.

NOTE: I am and always have been a fanatic about financial security. In my life, that always has been my first priority. However, if one has the disposable income available (after all the reductions to assure $$$ security) then I advise traveling as young as possible. JMHO
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Old 01-27-2014, 07:00 AM
Location: Great State of Texas
86,068 posts, read 74,000,351 times
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I got my traveling out of my system during my working career.
I'm quite content to just travel locally now in retirement.
A 6 hour drive down to the Texas coast for a long weekend/week is just fine by me now.
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Old 01-27-2014, 07:02 AM
35,220 posts, read 42,893,954 times
Reputation: 30607
Dont waste money and definitely hold back on monies you need to live on but if there are things in life you want to do by all means spend the monies to do those things while you still have the health to do them or you'll wake up one day in old age wishing you'd done this or that.
IMO life is about experience and not about how much money you die with.
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