Why I Refuse to Give Up This One Thing While Saving for Retirement
I’m retiring on Aug. 1, 2029. That said, my nest egg isn’t where it should be, but travel is so important that I’m not willing to give it up to enrich my retirement funds.
That might sound crazy to you, but to me, it makes sense. Here’s why I’m not willing to give travel up — and why, if you’re in the same boat, you shouldn’t necessarily feel guilty doing the same.
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Travel Refreshes and Reinvigorates Me
As a full-time employee in a high-stress job (law), travel allows me to unplug from my job and daily life. Even on the weekends, I sometimes read or respond to work emails. But when I travel, I leave it all behind. I am so focused on the trip that I get a break from thinking about what is happening at the office. I then return to the office refreshed and ready to tackle new projects.
I Experience New Foods and Cultures
I could go to a Thai restaurant to enjoy their cuisine, sure, but the experience is certainly more authentic when eaten from a street vendor in Thailand. Since I tend to ask lots of questions, I often learn about the history of a certain dish, too, and I appreciate the meal in a different way.
It’s not just the food, either. Locals often tell me the backstory of their traditions, which makes me look at a culture differently. It’s not something I could get out of a book or television show.
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I Try New Things
We all have our daily routines. And a vacation allows you to try new things, breaking with those routines. In Belize, I swam with sharks — and this is coming from a person who could barely touch a shark at the Norfolk Aquarium. Travel encourages me to find out what I’m capable of doing.
I Don’t Miss the Important Life Events of Friends and Family
This year, my youngest son joined the Air Force. We attended his boot camp graduation in San Antonio. Later this year, my oldest is graduating from the University of North Carolina in Charlotte. I wouldn’t want to miss out on these important milestones in their lives, or any of the weddings and reunions that have come up over the years.
I Meet New Friends
My significant other and I make new friends on every trip we go on together. We talk to people in bars, on the beach, at the hotel. Locals make us feel welcome and share their favorite spots. Plus, other travelers sometimes share our same interests, and we keep in touch after our trips.
I Focus on My Budget Priorities
Travel can be done affordably. I don’t have an annual vacation budget but plan a budget for every trip. Based on how much I need for the trip, and how much I need to meet my bills and have some left for savings, I’ve discovered what is and isn’t important to me. For instance, this is why I no longer have cable or pay for movie tickets.
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How Do I Travel While Saving for Retirement?
This is where good research and planning comes in handy. We come up with a budget for every trip, trying to plan out as much as possible for every possible cost. On our recent Southern Caribbean cruise, we chose an inexpensive, inside cabin on a cruise when we knew that we’d only use the cabin for sleeping. For my son’s Air Force basic military training graduation, we rented an Airbnb and focused our activities on classic San Antonio sights.
Takeaway
Travel doesn’t have to be exorbitantly expensive. Photos of luxury villas can be tempting, but the beauty of travel is that it can be done in a variety of ways, fitting any budget. By eliminating unnecessary expenses and planning ahead, I enjoy the experiences I gain from travel while still saving for retirement.
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This article originally appeared on GOBankingRates.com: Why I Refuse to Give Up This One Thing While Saving for Retirement