A favorite part of my job is talking with newly retired clients about the travel dreams they have been planning and saving for.
Every conversation sparks fresh ideas that find their way onto my own retirement travel bucket list. While I’m still just in the daydreaming phase, I genuinely love helping others turn those long-awaited vacations into reality.
Curiously, what stands out to me in many of these conversations is that alongside their excitement, there’s also a hesitation among retirees to spend their money, especially on travel they may view as discretionary or even indulgent. Rather than focusing on the value of experiences that bring joy, connection and well-being, I hear people expressing guilt about spending funds on what seems to be a luxury,
This is why an important part of my work with clients is to develop a sustainable spending plan that helps ease financial worries and strikes the right balance between enjoying retirement and ensuring long-term financial stability. I encourage clients to plan for and take those big, meaningful trips sooner rather than later. Life, after all, can have a way of shifting priorities and opportunities when we least expect it.
However, despite any lingering feelings of reluctance, travel continues to be a top priority for adults aged 50 and over. According to the AARP 2025 Travel Trends survey, 70% of survey respondents in this age group indicated they plan to take trips this year (up from 65% in 2024.)[1] With so many packing their bags, it seems like now is the perfect time to consider joining in.
Not long ago I had the opportunity to catch up with Jenny Martella, a Modera mentor and former colleague, who recently retired from her role as wealth manager. Upon retiring, she wasted no time tackling some of the destinations on her dream travel list, starting off with her first adventure climb on Mount Kilimanjaro, the highest peak in Africa. While this kind of adventure may not be on every retiree’s list, there are plenty of adventures, small to grand, to suit every traveler. A dream vacation can look quite different for everyone. And regardless of the destination, Jenny had some inspiring advice to share.
Begin planning your travel goals as early as possible. Jenny recommends that if you are feeling stuck or in need of inspiration, lean into your passions for ideas. Travel can be deeply personal, and vacations can be curated around many different interests. For example, genealogy vacations are becoming more popular for people who want to explore their heritage. Other trends include “noctourism” (nocturnal tourism) that includes nighttime experiences like stargazing and cosmic events in places like Norway and health-focused retreats in exotic locations like China and Brazil.[2] The world is wide. Make sure to research and explore places and experiences that speak to you.
Once you have landed on a destination, Jenny strongly suggests putting travel dates on the calendar. Committing to a date helps avoid the tendency to push that trip off “one more year” where life could potentially get in the way. If you’re dreaming of an adventure-filled trip, consider using it as motivation to start preparing now—whether through light physical training or thoughtful planning—so you can make the most of the experience while your health supports it. Tackling more active journeys early in retirement helps turn potential limitations into reasons to go sooner rather than later. As Jenny wisely says, “Father Time is undefeated,” and that dream trip won’t wait forever.
What matters most is going while you can and experiencing what you love—because the right time is the time you make for it.
For a dream vacation, working with a travel professional is highly recommended. From customized itineraries to navigating rapidly changing travel documentation requirements, a travel agent can simplify planning and logistics. They often have access to upgrades and a support network that could become invaluable to you should something go awry in a foreign place and another time zone. In addition, travel professionals often have insider knowledge and can help connect you with trusted local guides, uncover hidden gems, and tap into resources that might be unfamiliar to you. For these reasons, Jenny underscores the importance of using a professional, noting that even as a “seasoned traveler” she can’t imagine planning a trip without assistance.
Consider making an insurance professional a part of your dream team, as well. For a trip of this significance, travel insurance should not be overlooked. When purchased ahead of your trip, travel insurance offers financial protection for the duration of your travels, covering unexpected disruptions like lost luggage or last-minute hotel stays and meals due to canceled flights. It can also help with medical needs, including doctor visits, emergencies, or even evacuation to another location for care. For more information on travel insurance, read Planning to Travel? Consider Travel Insurance.
As financial advisors, we help clients build a plan that reflects all their goals. These goals include retirement income needs, philanthropic interests, and yes, even those dream vacations, too. Often, what holds people back from traveling isn’t whether they can afford it, it’s whether they should spend the money.
Jenny said it best: “There are two resources—physical and financial. And in many cases, the financial will outlive the physical.” In my experience, new retirees tend to be the most hesitant when it comes to spending, even though they may be those in the best position to enjoy it. With thorough and thoughtful financial planning and stress testing, we can provide projections that can help give you the reassurance needed to take that dream trip when you are ready.
Retirement is the perfect time to bring your travel dreams to life. If you’ve been thinking about a big trip—or even a few smaller ones—talk to your financial advisor about how to make it part of your plan. With the right guidance, you can explore the world confidently, knowing your financial future is covered.
P.S., Next stops on Jenny’s travel list include hiking the Camino de Santiago (the French way) and Iceland. As for me, I’ll keep taking notes and learning from my wonderful clients’ experiences and adding to my own retirement dream travel list.
[1] https://www.aarp.org/travel/travel-tips/travel-trends-survey/#:~:text=In%20the%20AARP%20survey%2C%2020,and%20special%20TSA%20screening%20lines.
[2] https://www.booking.com/articles/travelpredictions2025.en-us.html
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