For some boomers, retirement is a chance to rediscover wanderlust
TRAVELLING OFF THE BEATEN PATH
Canada’s winters make it inevitable – we dream of spending at least part of the year in warmer climes. And for retirees, when time considerations are less of a factor, even out-of-the-way travel adventures can be within reach.
As travel agents, Wayne and Gina Hansen enjoy many opportunities to visit and explore different countries around the world. As baby boomers, they’ve also spent a great deal of time and energy seeking a perfect ‘second home away from home’ in which to spend six months each year. In the past few years, they’ve travelled to India, Cyprus, Malaysia, China, Korea, Hong Kong, Portugal, Spain, Morocco, Mexico, Columbia and Ecuador.
But their most memorable trip, says Gina, whos is also the regional director of the Canadian Institute of Travel Counselors, was to Jordan.
“Our friends thought we were crazy, given all the turmoil in the region, but our instincts told us to go, and we were right. Once there, we found an oasis of peace and calm – contrasts of old with new, tremendous spiritual nourishment, soft adventure – and world-class spas that gave the word ‘pamper’ a whole new meaning.”
The recently rediscovered city of Petra, which was the leading trade centre of the Mediterranean at the time of Jesus and the Apostles, is an absolute must-see, says Wayne.
“Petra has all the elements of an archaeological adventure: hidden valleys, dizzying ascents to spectacular cliff temples and cave dwellings. It is the sort of place where even the most timid of tourists become adventurous.”
In their travels, the Hansens have discovered a number of destinations where they would like to spend more time. “Malaysia is a former British colony, with many of the old British traditions. English is widely spoken, and real estate is inexpensive. The climate is warm year-round, with many beach resort areas. And the cost of living is extremely affordable. Hospitals are inexpensive, and the majority of doctors are trained in the West,” says Gina.
In addition, she says, there is political stability, and the current government is encouraging foreigners to retire there with a special program entitled “Malaysia – My Second Home” that provides incentives for foreigners, particularly retirees, to live permanently in the country. Panama is another overlooked warm-weather option.
“Long overshadowed by its neighbors, such as Mexico and Costa Rica, this country has much to offer retirees. English is widely spoken, a carry-over from the years the American military governed the canal zone. With a very low crime rate, good law enforcement, miles of beaches, rain forests and even a mountain region with spring-like weather all year long, Panama is a very attractive retirement destination,” says Wayne.
Not all retirees dream of year-round sun, however, and for those who want to explore Europe, Ireland is an ideal ‘jumping off spot,’ says Gina.
“Ireland is becoming an increasingly popular retirement destination, mainly because of its scenic environment and the relatively slow pace of life in rural areas.
Government policies are encouraging this trend by offering free healthcare and other benefits to seniors.”
If your plan is to live for part of the year in another country, says Wayne, be sure to live there for a while before investing. “Take an extended holiday. You have to know what life will be like on a dayto-day basis.”
Bob Nicholls, a certified financial planner and CA in New Liskeard, Ontario, says that for many Canadians, travel and winters spent in the south are widespread and achievable aims. “There are more people that it’s affordable for now, particularly in the last two or three years as the Canadian dollar has risen relative to the U.S. dollar.”
A sound financial plan ensures the realization of travel dreams won’t impinge on overall retirement security.
“You can spend money and do things in the short term, but if you want to be able to keep doing it, you have to know what your investment portfolio is able to sustain.”
For those in good health – making travel insurance affordable – it is usually a straightforward matter to incorporate travel plans into the financial plan. “Systematically saving over as long a period of time as possible makes it a lot more realistic and affordable.”
Nicholls also advises travelling sooner rather than later. “Begin when you’re young and healthy. Set some money aside each year for travel you can afford while still saving for the long-term. The critical thing is to make a plan. If you prioritize your goals, you’re much more likely to reach them.”
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