Ads for retirees often show images of happy seniors enjoying trips to exotic locations, but that’s only the reality for a small number of people. For most retirees, that’s just wishful thinking.
Many people will not have money to afford retirement travel.
There have been quite a few surveys on this subject and they reveal the same thing: people want to travel when they retire, but they’re not doing much to make that happen.
HSBC Bank’s Future of Retirement study surveyed 1,000 Americans and found that 40 percent of them wish to travel extensively when they retire, but 30 percent admit to falling short of their retirement goals.
Another survey, by the Transamerica Center for Retirement Studies, asked 1,500 Americans and found that travel is one of the top two goals for retirement — second only to spending time with family and friends. Yet less than half of the respondents are confident that they’ll be able to afford to travel when they retire.
Not surprisingly, the top change retirees would have made if they could do it all over again is to save more money for travel. Just below that is to budget expenses more carefully.
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