How to make your travel dreams a reality in retirement

WITH THE RIGHT GUIDANCE AND EARLY PREPARATION, YOUR IDEAL RETIREMENT LIFESTYLE CAN BE WELL WITHIN REACH.

- BY CAMILLA FOSTER

SAVING AND PLANING: That's the key to being able to spend your retirement exploring the world

MANY of us look forward to spending our retirement exploring the world and checking off all the top experiences on our bucket lists.

However, turning those grand aspirations into reality takes careful preparation and a clear financial strategy.

Here, Kenny McKay, wealth planner at Succession Wealth, shares his expert advice on how to plan effectively to make sure you can live out your travel dreams.

“If you hope and dream to travel, it will only remain as hopes and dreams, unless you put them into your financial plan,” says Kenny.

“Your financial plan should include everything from going on a cruise to how much you are paying for electricity and council tax. It should be this all-encompassing document, and if something isn’t included in it, it’s likely that it’s not going to happen”

While there’s no right or wrong age to start planning, Kenny says the earlier you start thinking about this, the better.

“If you can start thinking about it sooner rather than later, the benefits will speak for themselves.”

“One of the best things you have in retirement is time to sit and research,” says Kenny.

“Travelling during the school holidays can be really expensive, so if you have the option not to travel in these periods, you're going to have significant savings.