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How to Make a Traveling Retirement More Affordable

Date : Mar 15,2014
By : Annette Hazard

With retirement just around the corner, it is difficult to not get a little anxious. Finally, having the time to do a few things on the bucket list might not be such a bad idea. These are the golden years– that inevitable time of life for which a person works their fingers to the bone to save up for. Can the average retired couple afford to travel during their retirement anymore? It would be nice to click one’s heels, say, “There’s no place like California”, and appear there instantly. That would at least help to keep the price of gas from gobbling up the contents of a person’s savings account. But, what if someone could make a traveling retirement more affordable?

Liquidating Assets

If a person bought a house back in 1980 for around $85,000,that ends up being a lot of capital tied up in real estate. The kids moved out of the nest years ago. It will not be too long before taking care of this big home will be more than a retired person would even want to put up with. According to the county appraiser’s office, the value of the home has appreciated to near $100,000, making it even more lucrative to cash out while the property is holding its value. And putting one’s belongings into a storage facility wouldn’t be much more than paying the annual property taxes on the home anyway. Of course, a garage sale might help to mitigate storage costs even further in that respect. Now traveling cross-country in an RV is starting to look a little more feasible.

Cutting Costs Elsewhere

For a lot of people, the measure of their monthly grocery bill and other incidentals is assessed by how much they pay shopping at overpriced grocery stores, and rising cost retail stores. Searching around for lower cost grocery stores in areas you plan to travel to and using the local dollar store for other incidentals, such as personal care items and laundry soap, can cut monthly expenses considerably. And it may not be necessary to eat out at a fancy restaurant absolutely every night either. Even brand new clothes with the tags still on them can be obtained for pennies on the dollar at many Good Will stores around the country. If a person looks for ways to slash their monthly expenses, it is certainly possible to do so. But, the real question one should be asking themselves is why wait until retirement to learn how to live cheap? It is much easier to get by on less, if a person starts to get used to a cheaper lifestyle long before they are retired. Of course, that translates to more money left over to spend on traveling during your golden years.