One of the most popular trends for boomers in the GTA who are retiring is to downsize and do some travelling*. Usually, they are moving to a smaller residence and want to enjoy some their well-earned retirement with a travel vacation. Here are some things to consider if this describes you.
Timing
Downsizing and moving to another residence can be an intense process, depending on your retirement date, the amount of stuff you have, where you are going and tightness of the move schedule. You could schedule your vacation period at any point throughout the process. However, delaying in until “all is said and done” is probably the most relaxed option. That is after you have actually moved out of your current home, into your next home and dealt with any renovations in your next home. If you rush into a vacation earlier, you may find you are unable to truly relax and enjoy your trip. The typical sequence is still “retire first, downsize, then travel”.
Type of Vacation
Rather than settling for a standard “tourist vacation” or cruise vacation how about a “Volunteer Vacation” or a “Ranch Vacation”. The following video may get your creative side working to come up with a novel vacation that motivates and excites you!
Health and Travel Insurance
Of course, travel involves risks, especially out-of-country travel. A worry-free retirement vacation is more likely if you dig deep into your health coverage to ensure you have a complete understanding of what is covered and what is not. If you have coverage through an organization such as the Retired Teachers of Ontario (RTO), it would be very worthwhile to review your coverage in detail. Quite often, large organizations have planning sessions for retiring staff. These can be very helpful in becoming fully informed and ready for retirement, including a safe and happy retirement vacation.
Enjoy your retirement!
* You may notice some Canadian spelling in these posts. The words may look odd but that’s how we spell them. We’re used to it.
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Author:
Unless otherwise credited, all posts are happily authored with a quill pen …
Paul Ferri, Broker, ASA (Accredited Senior Agent)
RE/MAX Unique Inc. Brokerage*, Toronto, Canada
*Each office independently owned and operated.
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