See the world

Gondolas in Venice

  One of our biggest goals when we retired was to travel. We wanted to see the world, get some places off our bucket list. We love to travel, whether it is a local day trip or a magical cruise to exotic destinations. I think that once the  travel bug bites you, the infection lasts a lifetime. This is a good thing as far as we are concerned. In this blog entry we will talk about the planning process for our trip, in future editions we will discuss the different ports of call.

Library of Celsius,Ephesus, Turkey

  This fall we were lucky enough to be able to take a trip for our 30th anniversary. We had planned for a while and decided that a cruise to the Mediterranean was what we wanted to do for such a big milestone. This was going to be a bucket list trip for sure. We were going to see things that we had dreamed of for years. The planning phase of our trip lasted much longer than the trip itself, but it was the part that made the trip go so much smoother.

Dubrovnik, Croatia

 Our first place that we go to when planning a trip is VacationstoGo. This is a website that lists discounted cruises for all the major cruise lines. It is a great resource when searching for a date and price that you can live with.  Second stop was Matrix Airfare Search, which is a wonderful site that allows you to find a flight and compare prices between major carriers.  Neither of these sites allow you to book a flight or a cruise, they are for research purposes.  Once we have found the cruise and the flights that we want, it is time to head off to the travel agent. At this point, with the research done, you could book your own trip with the information that you have, but we still like the security of having another set of eyes look at our plans to see if we have made a mistake, plus most travel agencies will beat any price that you can find, so print out your prices to take along.
  Another great tool when planning your trip are the forums in the travel sites. You can find information specific to your trip and itinerary and yo can even make plans to meet up with people planning to do the same things as you. Some people have found that they were on the same flight and ended up sharing a cab to the pier to save some money. Others have found that they got information that they didn't know about. We discovered a great and inexpensive transfer option from the airport to the ship that saved us some time and money.
  When planning our trips we always look at the ship itinerary. We like to pick a ship of at least 4 stars and for us it is all about the destinations, so we look for a trip with as few sea days as possible. If your idea of a cruise is to relax by the pool, then your itinerary would have more sea days. We love to see different cities and that is one of the great things about a cruise. You unpack once and wake up in a different country every morning, a new vista greeting you from the window as you coast into port.
  Most major cities have their own websites to give tourists a good idea about the area. They will list things like the best attractions, transit or taxi links and often a list of restaurants and shops. Searching these sites will give you an idea of whether you want to see an area on your own or if you want to book an excursion through your cruise line. Seeing it on your own is cheaper, but booking through the cruise line will guarantee that you make it back to the ship if there is a problem. Our rule of thumb is, if it is close to the port and there are regular transfer options we will do the tours on our own. If the site that we want to visit is far away and there is only one option to get there and back, we will take an excursion supplied by the ship. We have found that most European cities have the port far away from the tourist areas, but most Caribbean ports are close to tourist destinations. It all depends on your own comfort level, which changes as you gain experience.
  We also like to view the reviews on Frommers, Tripadvisor and we like to look for the travel books by dk books. Many libraries carry these books, so go and grab a stack and do your research.  All the sites give different information, we like the review sites as you are getting the real life experiences of fellow travellers, not just the best case scenario given by a travel writer who got the best of service for a good review.
  Make sure to visit your doctor well in advance of any trip that you plan to cover any vaccinations that you may need. There are some good websites, Travel Health- Public health Agency of Canada or CDC- Travel Destinations which list what vaccinations a person should have in different areas. They also list different diseases and the best ways to avoid getting sick when in certain areas. There are also links to show which areas are experiencing civil unrest. Prevention is always better than needing a cure.
 A last thing that we need to talk about is travel insurance. There are 2 basic types of travel insurance, trip cancellation and  medical coverage. I personally would never travel without either type of coverage. Trip cancellation covers you for the travel portion of your trip and will either pay for a trip you couldn't take for some reason or will help you to make connections on another airline if your flight is cancelled. It is true that the airline will get you there if there is a storm cancellation, it just doesn't say when you will get there, it is better to have options. Trip medical insurance covers you if you get sick while on a trip. These illnesses could financially ruin you if you have a major medical incident while in a foreign country. This insurance will insure that you get medical care. One thing to make sure if is to check if you have any pre-existing conditions that might disqualify you from coverage.  Many major credit cards offer these insurances if you pay for the trip with that card, check before you pay to make sure you have that option. Most travel agencies, insurance companies and banks also offer these coverages, so shop around for the best coverage and price.
  Doing all of your homework ahead of your trip should make the trip much more enjoyable and safe. You will know what to expect when you get to your destination and if something does go wrong, you will have a better idea how to solve the problem. There is no worse way to spend your vacation than walking ashore and having no idea where to go from there. Plan your trip and you will be able to enjoy every minute of your once on a lifetime adventure, and if you really like it maybe it will be a twice in a lifetime trip, who knows maybe the travel bug will get you too.

Balance

   In life as with everything else, balance is everything. Nothing can stay out of balance for any significant amount of time without a major correction.  In retirement, finances are the subject of much of our work to maintain balance. Unfortunately this balancing act should start well before we retire to keep the situation stable and a long term success.

  The main tool we can use to achieve balance is a budget, and to be successful in retirement our budget must balance. We all need to have a budget to plan for retirement, if we don't know where the money goes, we won't know if there is enough to retire comfortably. We need to start a budget early to plan for our retirement and we need to project a retirement budget so that we can determine when the money available will give us enough to maintain our desired lifestyle.

  Determining the lifestyle that we desire is a key element in retirement planning. It is what will determine how much money we need to retire. We need to take a realistic look at how we envision our retirement to have any hope of building a realistic budget. Decide what you want to do in your golden years and factor in the costs associated with that choice. There are blogs and websites beyond counting that can be a good resource. One of my favorites is Gail Vaz-Oxlade's  blog. It has many tools and tips for budgeting.

  A financial planner is a must have if you are planning your retirement. It is important to do some research to find the right planner for you. Financial planners paid in different ways and you have to look at the rates to determine what you will pay for the service provided. You also need to find a planner who is in tune with your unique retirement plans, because one size does not fit all. Be realistic in your plans for your retirement and make sure your adviser knows your plans to tailor your portfolio. A good planner will ask what you think you will need in retirement, instead of telling you, so your retirement budget comes into play here.

We all need a hobby in retirement, you will have a lot of time to fill that was formerly taken up by your workplace, and all these will take money to do. Realistically it costs a lot less to live in retirement than it did while working, but you have more free time and filling that leisure time can be costly depending on the activity.  If your goals are to hike the walking trails near your home, your budget would be smaller than if your goal was to hike the Alps or the Outback of Australia.  You need a realistic goal and have to budget accordingly. A hobby is a must in retirement, if you don't have one yo will become bored early on in the process and won't have the fun that retirement should bring.  It also seems that people without a hobby don't live as long in retirement, so find something you like and get out and do it.

My suggestion is to start budgeting early on in life to prepare for retirement and find a financial professional to help you realize your goals. Many banks and savings institutions have low cost financial advisers on staff to help customers with advice. Don't be afraid to change your financial adviser if you are not completely satisfied, it is your money and you need to protect your money and your future.

A good balance in my opinion is to have a plan that lets you put some money away to retire on your terms, but also allows you to have a fun life now.  Giving up all your present enjoyment for a gold plated future could be a mistake if health concerns pop us and derail your plans. Living solely in the present with no thought for the future can come back to haunt you  if you want to maintain a certain quality of life in retirement. Living in the future can lead to regrets of missed opportunities and living in the present can lead to regrets when your goals are unachievable.


Seek a balance in your life and hopefully you will achieve a happy life and retirement with no regrets regardless of the path that life places you on.