7 VACATION DESTINATIONS TO AVOID ON A RETIREMENT BUDGET

One of the best parts of retirement is that it frees up time for travel and vacations. Now that you’re beholden to a nine-to-five job, you’re free to globe trot to your heart’s content. Your wallet, however, might feel differently. 

Loads of popular vacation destinations aren’t worth the money on a retirement budget. Some of these places are far too expensive on a fixed income. Others are not easily accessible for those of retirement age. And some just aren’t worth going to on a limited budget.

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“If you are approaching retirement age, and worried that your travel options may be limited once you are finally free to travel, don’t worry,” said business and travel expert Michael Sawyer, operations director at Ultimate Kilimanjaro. “There are plenty of cool, affordable places to travel. You’ll want to do your research and make sure not to pick one of those that will break the bank.”

Here are a few vacation destinations to avoid on a retirement budget.

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Hawaii, United States

The island state is a one-of-a-kind paradise that people dream of visiting. But the cost of airfare, lodging, and food alone is enough to break the bank without visiting any tourist attractions. The average per person per week cost for a typical trip to Hawaii is about $1,899.

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“While it’s true that the islands are beautiful, there are destinations probably much closer by, like parts of Mexico, where the beaches are just as beautiful, with white sand and crystal blue water,” Sawyer said. “It’s much more economical to travel out of the country in this case, than it is to travel within the U.S. to Hawaii.”

Tokyo, Japan

Blending modernity and tradition, Tokyo is like no place on earth. You can get lost in the city while never feeling as if you are adrift. It is also one of the most expensive cities in the world according to a study by The Economist. 

For retirees, the crowded streets can be overwhelming, the hustle and bustle energy taxing, and as travel blogger Stephanie Yoder pointed out in Passports and Pizzas:  “Tokyo is intense…which can make it hard to relax and enjoy yourself fully.”

The Maldives, State in South Asia

A tropical vacation might feel like the perfect way to celebrate your retirement. After all, who wouldn’t want to sit by the beach side, sipping a fruity drink, and watching the idyllic waves crash along some of the most beautiful scenery in the world? Those who do not want to spend all their savings on one trip, that’s who.

“Maldives is a dream destination for many but it’s important to note that staying at a luxury resort and participating in activities like scuba diving can quickly add up, making it a less practical choice for those on a fixed income,” said Dennis Shirshikov, head of growth at Go Summer.

Paris, France

A city that’s legendary for culture, history, food, and…well, cost. Paris has been immortalized in the minds of everyone as a romantic city, filled with some of the most famous art galleries and historic world landmarks. It’s also pretty expensive to visit the City of Lights.

“You may have had dreams of seeing the Eiffel Tower one day, but unless you’ve planned accordingly, a trip to Paris may not be in the cards,” said Sawyer. “If it’s the old-world charm you crave, a trip to Montreal, Canada will give you that fix. It is charming, with a French flair, without being uber expensive.”

St. Moritz, Switzerland

Chic hotels, A-list clientele, and a town known for its luxury ski resorts might be too rich in the blood for retirees on a budget. According to Numbeo, the cost of living in St. Moritz is 87% higher than the national average, with high accommodation, food and entertainment prices.

“While offering picturesque landscapes and high-quality life, the costs here can be prohibitive for retirees who need to manage their funds carefully,” said Shirshikov.

The average cost of a three-course meal for two people at a mid-range restaurant is approximately $131.84, adding up to a costly vacation for retirees looking to stretch their limited retirement funds.

Dubai, UAE

Going to the Middle East might be on your bucket list, with the most populous city in the United Arab Emirates being at the top: Dubai. It’s known for incredible architecture, a buzzing nightlife, and some of the wealthiest families in the world, making it also very expensive to get there in the first place.

“Dubai is extremely costly to get to, so most retirees won’t find it worth the money,” said Sawyer. “Unless you have a LOT of money, then go for it. You will fit right in.”

Shirshikov added that Dubai is renowned for its “luxury and modernity but can be exorbitantly costly in terms of lodging, dining, and entertainment. For retirees, the high cost of living combined with the urban pace might not offer the relaxing or cost-effective retirement experience they seek.”

New York City, United States

Broadway shows. Landmark after landmark. The city that never sleeps. It’s a lot for retirees, especially when it comes to getting around the five boroughs of New York. You can take a taxi or a ride share, but those add up pretty quickly. Public transportation, though it runs 24/7, can be exhausting and require lots of walking, including up and down stairs. None of which is great for retirees.

“While an exciting urban center with endless cultural and culinary experiences, it can also quickly deplete travel funds with its high costs for hotels, dining out, and attractions,” said Shirshikov.

When traveling on a fixed income in your retirement years, Shirshikov highlighted how “some destinations are notoriously expensive, and while they might offer unique experiences, they can strain a retirement budget without delivering proportional value.” 

It’s important to do your research ahead of time, plan out the cost of the trip and not indulge in additional spending when you get there.

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This article originally appeared on GOBankingRates.com: 7 Vacation Destinations To Avoid on a Retirement Budget

2024-04-20T12:06:52Z dg43tfdfdgfd