Will Your Dream Retirement Reach Its Destination?
If your dream retirement includes getting out and seeing the world, you’re not alone. Americans want to travel and seize the benefits of getting away from it all during their golden years, but most are not saving enough to make these goals a reality.
Travel ranks as one of the top two goals for retirement, coming in second only to spending time with family and friends. In fact, 59 percent of Americans dream of traveling during retirement, and 69 percent say travel is an important goal worth saving toward, according to a new report from the Transamerica Center for Retirement Studies and the Global Coalition on Aging. At the same time, only 15 percent place a high priority on retirement travel, while just 12 percent have given “a lot” of attention to saving for it.
“Retirees were asked how they would have prepared differently for travel in their retirement. Of those with regrets, more than half wish they would have saved more,” said Catherine Collinson, president of the Transamerica Center for Retirement Studies. “People of all ages need to plan and save to make their retirement dreams of traveling a reality.”