Fixed Income Travel – The Best Tips For Retirees (2023)
“Fixed income travel” and “retirement is a time to relax and enjoy the fruits of one’s labor”. Those are two phrases that rarely go together. Especially in these economic times. It’s no surprise that many retirees on fixed incomes find it difficult to afford travel.
However, there are plenty of ways to travel on a modest budget and still see the world. In this post, I’ll explore some of the best options for fixed-income travel and suggest affordable tours and destinations for retirees.
Author, Cynthia Ross Tustin – Friday, April 6th, 2023
Traveling on a fixed income can be challenging, but there are several ways to make it more affordable. Here are some tips for traveling on a fixed income:
- Plan ahead: By planning your trip well in advance, you can take advantage of early booking discounts and other promotions. You can also choose travel dates that are more affordable.
- Choose budget-friendly destinations: Some destinations are more expensive than others. By choosing budget-friendly destinations, you can save money on transportation, accommodation, and food.
- Travel during off-peak times: Traveling during the off-peak season can result in significant savings. Flights, hotels, and tours are often less expensive during the off-peak season.
- Consider alternative accommodation options: Instead of staying in a hotel, consider alternative accommodation options such as hostels, Airbnb, or vacation rentals. These options can be more affordable than traditional hotels.
- Use public transportation: Instead of renting a car or taking taxis, use public transportation such as buses, trains, or subways. This can be a more affordable way to get around.
- Look for discounts and promotions: Many airlines, hotels, and tour companies offer discounts and promotions to seniors, students, and other groups. Retirees should inquire about these discounts when booking their travel.
- Pack light: By packing light, you can avoid extra baggage fees and save money on transportation.
By following these tips, retirees can travel on a fixed income and enjoy affordable and memorable trips.
Budget-Friendly Destinations
I can’t promise the North Seychelles Islands and a vacation with the Clooney’s, but there are still definitely plenty of great destinations. Some of the most budget-friendly destinations for retirees include Southeast Asia, Central America, and Eastern Europe.
These regions offer affordable accommodations, delicious food, and a rich cultural experience. For example, in Thailand, retirees can enjoy stunning beaches, delicious street food, and historic temples for a fraction of the cost of more expensive destinations.
If retirees prefer a European vacation, you should consider visiting cities like Budapest, Prague, or Krakow. These cities offer beautiful architecture, fascinating history, and a vibrant cultural scene at a fraction of the cost of other European capitals.
Affordable Tours
One of the best ways for you and I to see the world on a budget is by taking an affordable tour. Some tour companies offer group tours specifically designed for seniors. They’re also a great way to make new friends while exploring new destinations. For example, Road Scholar offers educational tours around the world, focusing on cultural experiences, history, and the natural world. Another option is ElderTreks, which specializes in off-the-beaten-path destinations and small group tours.
Another way to save money on tours is to book last minute. Some tour operators, like Go Ahead Tours, offer discounts on tours that are not yet fully booked. Retirees who are flexible with their travel dates and destinations can take advantage of these deals to save money.
Economical Travel Options
When it comes to travel, getting there can be half the battle. However, there are several ways to save money on transportation. One of the most economical ways to travel is by taking a bus or a train. Not only is this option more affordable than flying, but it also allows retirees to see more of the countryside and experience local culture.
Sometimes a list is helpful! Check out the website of the Canadian Seniors Directory. They have an entire section on discounts for transportation. Some of the information is about local transit systems. But there is also Greyhound and AMTrak as well.
Another option for retirees is to use rewards points to pay for travel. Many credit cards offer rewards points that can be redeemed for flights, hotels, and car rentals. Retirees who use credit cards for everyday purchases can accumulate points quickly and use them to save money on travel.
Here’s a link to an article written by MoneySense about the best travel credit cards in Canada for 2023. It’s a thorough article, and it will give you an outline of each card’s rewards and welcome bonuses. And it also includes the interest rates charged on purchases. These cards are a great way to accumulate rewards quickly, as long as you pay off your outstanding balance every month.
And if you are going to get yourself a travel credit card, many offer more perks than the obvious points for miles or airport lounge upgrades. I created a list with close to a dozen hidden benefits that are often buried in the “squinty print” when you sign up for a travel card. Benefits you’ve paid for, but didn’t know were there.
Fixed Income Travel
Airfare
- Be flexible with travel dates: Traveling during off-peak times can often result in significant savings. For example, traveling mid-week instead of on the weekend can save retirees a lot of money.
- Use rewards points: Many credit cards offer rewards points that can be redeemed for flights. Retirees who use credit cards for everyday purchases can accumulate points quickly and use them to save money on airfare.
- Shop around for deals: Retirees should check various airline websites and travel sites to compare prices and find the best deals. They can also sign up for email alerts from airlines and travel sites to be notified of sales and discounts.
- Consider alternative airports: Flying into or out of alternative airports can sometimes result in significant savings. Retirees should check nearby airports to see if they can save money by flying in or out of those airports. In my experience, Billy Bishop Airport is the best-kept secret in Toronto!
- Book in advance: Booking flights well in advance can often result in lower fares. Retirees should aim to book their flights at least a few months in advance to get the best possible price.
Pro Tip: Consider purchasing travel packages on Black Friday for the following year. I’ve personally saved as much as 60% on all-inclusive vacation packages by buying on Black Friday. And here I thought it was only for TVs and appliances!
Don’t rent a car until you reach your destination. And don’t rent it for more time than you actually need. Assess your itinerary, then only book the vehicle for when you really need it. DiscoverCar makes doing that easy. And who needs to pay for an entire week when you only need it for three days?
Cruises
Incidentally, all of this advice about airfare is applicable to searching for an economical cruise vacation. based on all my research, which includes a crop poll of my travel blogging colleagues, Celebrity Cruise Lines appears to have the best prices. And they have the overall best bang for your buck. They frequently offer a discount on the second passenger in your stateroom. Book for two people and the second person can often get a substantial discount.
Cruise Lines also offer substantial discounts for those who cruise with them often. This is especially true if you book your next cruise while still on your current cruise. Purchasing your next cruise while on board often gives you access to serious upgrades and excellent prices.
Pro Tip: Look for “repositioning cruises”. These are generally one way. Cruise lines switch their ports based on the weather and the best season for cruises. They relocate from one port to another based on the weather.
Companies That Offer Whole Sale Travel
There are several companies that offer wholesale travel options. These companies typically work with travel agents and other industry professionals to offer discounted rates on travel packages, flights, hotels, and other travel-related services. Here are some examples of companies that offer wholesale travel options:
- Tourico Holidays: Tourico Holidays is a wholesale travel company that offers discounted rates on hotels, vacation homes, and activities in destinations around the world. The company works with travel agents and other industry professionals to provide their clients with discounted travel options.
- Hotelbeds: Hotelbeds is a leading wholesaler of travel products, offering discounted rates on hotels, transfers, activities, and tours. The company works with travel agents and other industry professionals to provide their clients with discounted travel options. It’s a bed bank!
- TourRadar: TourRadar is a wholesale travel company that offers discounted rates on tours and activities in destinations around the world. The company works with travel agents and other industry professionals to provide their clients with discounted travel options.
- Bedsonline: Bedsonline is a leading wholesale travel company that offers discounted rates on hotels, transfers, and activities in destinations around the world. The company works with travel agents and other industry professionals to provide their clients with discounted travel options.
Top Ten Websites That Target Fixed Income Travel Options for Retirees and Seniors
I’d love to say that my sparkling advice is all you’ll ever need for economic travel info, but that wouldn’t be fair…about fares! So, if you like to do your own research, I suggest that you check out these sites.
- Road Scholar: Road Scholar offers educational travel experiences for older adults. Their programs are designed for those who want to learn while they travel, and they offer a range of affordable travel options for retirees. They have wonderful options for immersive travel adventures.
- ElderTreks: ElderTreks is a travel company that specializes in adventure travel for older adults. They offer a range of affordable and off-the-beaten-path travel options for retirees.
- AARP Travel Center: AARP Travel Center offers exclusive discounts and deals on travel for AARP members. Retirees can find affordable travel options for cruises, flights, hotels, and more. AARP partners with Expedia to find you deals. Want the Canadian version, check out the CARP site.
- Seniors Travel Expert: Senior Travel Expert feels like a social networking site for older adults who love to travel. The site features travel tips, reviews, and recommendations from other retirees.
- Grand Circle Travel: Grand Circle Travel is a travel company that offers affordable travel packages for older adults. They specialize in small group travel experiences and offer a range of budget-friendly options. They have an anniversary offer a $1000 travel credit for new members.
- CheapOair: CheapOair is a travel site that offers discounted flights, hotels, and car rentals. Retirees can find affordable travel options to destinations around the world.
I routinely use this one and have found great deals. Check it out here. - Skyscanner: Skyscanner is a travel search engine that allows users to compare prices on flights, hotels, and car rentals. Retirees can find the best deals on travel using this site.
- Expedia: Expedia is a travel site that offers discounted flights, hotels, and car rentals. Retirees can find affordable travel options to destinations around the world.
- Silver Travel Advisor: STA is a travel deal site that offers exclusive discounts on travel packages, cruises, flights, and more for those interested in the UK. Retirees can find affordable travel options to destinations in this part of the world.
- Kayak: Kayak is a travel search engine that allows users to compare prices on flights, hotels, and car rentals. Retirees can find the best deals on travel using this site.
SafetyWing Travel Insurance
When I’m abroad, and because I’m “of a certain vintage”, I get travel health insurance. I use SafetyWing because I find it flexible and economical.
Just A Few FAQs
A fixed income is a type of investment that provides a regular and predictable payment to the investor, typically in the form of interest payments or dividends. This payment is usually set at the time the investment is made and does not change, hence the term “fixed.”
Examples of fixed-income investments include bonds, certificates of deposit (CDs), and preferred stocks. Unlike stocks or other investments that can increase or decrease in value over time, the income from fixed-income investments remains stable and is not subject to market fluctuations.
The term “fixed income” is also used more broadly to refer to a person’s income that remains relatively constant over time, such as a pension or social security payment.
The amount of income you need to travel will vary depending on a variety of factors, such as your destination, travel style, and the length of your trip. However, as a general rule, you should aim to have enough income to cover the cost of transportation, accommodation, food, and activities, as well as any unexpected expenses that may arise.
If you’re on a budget, you can find ways to save money on each of these expenses. For example, you can choose budget-friendly destinations, stay in hostels or Airbnb accommodations, cook your own meals instead of eating out, and take advantage of free activities and attractions.
Ultimately, the amount of income you need to travel will depend on your personal preferences and travel goals. Some people are happy with a budget trip that costs a few hundred dollars, while others may prefer a more luxurious experience that costs thousands of dollars. The key is to set a budget that works for you and your travel goals, and then plan your trip accordingly.
Fixed Income Travel Can Involve Thinking Outside the Box
Be A Digital Nomad
Is possible to make a living by traveling? Yes, I retired early so I could do just that. Honestly, I don’t consider myself retired, not really. I prefer the term “self-tenured”. I wrote and do consulting remotely. If you have transferable skills, and they lend themselves to working online, then this option might work for you too.
Here are Five Ways to Earn Money While Traveling
- Freelancing: If you have skills in writing, photography, design, or other areas, you can work as a freelancer and take on projects from clients around the world. This allows you to work from anywhere with an internet connection.
- Teaching English: Many countries have a high demand for English teachers, and you can often find work as an English teacher even without a teaching degree. This allows you to live and work abroad while experiencing a new culture. One of the most popular companies with friends of mine who teach ESL is VIPKID.
- Working in the travel industry: If you have a passion for travel, you can work in the travel industry as a tour guide, travel agent, or in other roles.
- Starting a travel blog or vlog: If you have a talent for writing or video production, you can start a travel blog or vlog and monetize it through advertising, sponsorships, and affiliate marketing.
If you want to know how I got started blogging, check out my Resource Page. - Remote work: Many companies now offer remote work opportunities, allowing you to work from anywhere with an internet connection.
While it is possible to make a living by travelling, it can be challenging to earn a steady income and manage the logistics of working while on the road. It’s important to carefully consider your options and to plan your finances and work arrangements carefully before embarking on a full-time travel lifestyle. You need to figure all this out before you hit the road.
Just FYI, I always use my NordVPN when I travel – for business or pleasure. I connect to public wifi, without it! Nord VPN makes it like browsing from home while I’m abroad, it keeps me protected in regions with low internet freedom and adds a layer of extra security when I’m banking and shopping online.
Check out Nord VPN here!
Benefits Of Being Part of TrustedHousesitters
What if all you had to do for a vacation was pay to get there, and eat? If you’re on a fixed income, sometimes you need to think outside the box. That’s where companies like Trusted House Sitters come in.
Pro Tip: TrustedHousesitters is a website that connects homeowners who need their homes looked after with house sitters who are willing to provide their services in exchange for free accommodation. As a retiree with the flexibility to stay abroad, TrustedHousesitters can be a good option if you are looking for a way to travel affordably and experience new cultures.
- Free accommodation: By house-sitting, you can stay in a home for free and save money on accommodation costs.
- Authentic travel experiences: By living like a local, you can experience the culture and lifestyle of your destination in a more authentic way.
- Flexibility: TrustedHousesitters allows you to search for house-sitting opportunities that fit your schedule and travel plans.
- Trusted network: TrustedHousesitters screens homeowners and house sitters to ensure that they are trustworthy and reliable.
TrustedHousesitters can be a good option for retirees who have the flexibility to stay abroad and are looking for an affordable and authentic travel experience.
That being said, it’s important to note that house-sitting may not be for everyone. You will be responsible for taking care of someone else’s home and pets, which can be a lot of work and responsibility. It’s important to carefully consider whether you have the skills and experience necessary to provide quality house-sitting services. This is a serious commitment!
Work Away
And since I’ve already got you thinking outside the box, you may wish to consider Workaway. It’s a platform that connects travelers with hosts who are looking for help with various tasks in exchange for accommodation and meals. The platform offers a range of opportunities, from farm work to language exchange, and is a good option for retirees who want to experience new cultures while helping others.
Let’s Sum Up Fixed Income Travel
Overall, there are many opportunities available for retirees who have the flexibility to stay abroad and are looking for affordable travel options. There are platforms that offer a unique way to experience new cultures and make new friends while saving money on accommodation costs.
Fixed-income travel doesn’t have to be out of reach for retirees. With careful planning, affordable tours, budget-friendly destinations, and some imagination, retirees can explore the world and create unforgettable memories. Whether they choose to travel by bus, train, or plane, retirees can see the world on a modest budget and enjoy all the beauty and culture that the world has to offer.
Hope you enjoyed this. It’s always a pleasure writing and researching for you!
Cheers,
Cynthia
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Cynthia Ross Tustin retired early to pursue her passion for writing. Turns out, she's equally passionate about retirement! This author has spent 1000s of hours researching all the best that retirement has to offer. What you'll find here is a well-curated resource of amazing places to go and fun things to do as your retirement approaches. Not retired, no problem! There's plenty here for all of us that are "of a certain vintage"!