Travel/hobbies budget in retirement

[mystang52]

Quote:

Originally Posted by Crewer We're in the $25k/year category and do budget but don't reconcile travel expenses at the end of the year. Having the budget gives us an idea of what we can/can't do.

Force of habit, I still budget for everything, but like Crewer once on vacation I don't look at prices and just spend on whatever we want. I retired 6 years before DW, so our original travel and hobbies budget didn't change much. She retired June 2019, just in time to take care of me when I was seriously ill, and then of course COVID.
But we do have a much larger budget now, not to mention a current large stash of unspent travel money We're being cautious still, but hope to do considerable travel in 2022.

[daylatedollarshort]

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Originally Posted by skyking1 One time we'd been given tickets to The Moody blues at the Gorge. We got there late and basically we're up by the dumpsters with the general admission ticket, it was terrible. We're making the best of it and this guy approaches us kind of quiet like because the concert has already started. Both my wife and I figured he was selling us drugs and I said no thanks man I can't do that, I get drug tested. Oh no he says I'm with the concert promoter and there's empty seats down front here's some tickets go down and enjoy yourselves. We got to move down front and center

Years ago a friend and I had seats at a rock concert that ended up being obstructed view. It turned out a guy from one of my classes in college was working security, and he kindly moved us up to front seats. Which seemed fun at the time, but I had tinnitus and partial hearing loss for several days afterwards from being so close to the stage and the loud music.

[mystang52]

Quote:

Originally Posted by daylatedollarshort Years ago a friend and I had seats at a rock concert that ended up being obstructed view. It turned out a guy from one of my classes in college was working security, and he kindly moved us up to front seats. Which seemed fun at the time, but I had tinnitus and partial hearing loss for several days afterwards from being so close to the stage and the loud music.

OMG did that bring back a memory. I had 4th row seats to Led Zeppelin. I was close to deaf, literally, immediately after the concert. And I recall it was days before I felt normal again. I got hearing aids a few years ago, and when I first got them my immediate thought was that it was due to this concert.

[SJ1_]

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Originally Posted by tmitchell I'm trying to estimate costs and spending strategy after I leave work. As I'm planning to RE in my 50s and expecting to spend more in the first few years ticking off my bucket list I'm wondering: 1. How much on average do you spend on hobbies/travel annually (solo/couple)? 2. Do you just take this out of your portfolio along with expenses, or do you have a bucket set aside? 3. Have you seen a change in this over time, or has it remained relatively stable year over year (obviously pandemic made a dent, so I mean otherwise). Thanks!

1) $25000 (use a lot of cc points get a family discount at a major hotel chain varies but have saved thousands so far)
2) bucket of $40000 per yr and $10000 for about 10 yrs so we are way under on spending
3) spend a lot less during pandemic canceled a couple of cruises and a trip to Europe.

[SJ1_]

[QUOTE=SJ1_;2601896]1) $25000 (use a lot of cc points get a family discount at a major hotel chain varies but have saved thousands so far)
2) bucket of $40000 per yr and $10000 for about 10 yrs so we are way under on spending
3) spend a lot less during pandemic canceled a couple of cruises and a trip to Eurhope.[/QUOTE

left out: for hobbies I have a "toy" acct that has grown a lot. the only real thing that I spend on is camera equipment which I currently have all I need.

[Green Papaya]

We estimated $25k in our budget for travel. 2020 was our first full retirement year so that number was barely touched. I suspect 2021 will be similar for us.

[DrRoy]

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We are just not that spontaneous. I admire those who are, but we are both planners and usually book trips several months to over a year in advance. Part of this is just our personalities, while part is driven by our dog and the need to have a good pet sitter available. We are fairly picky about where we like to go, stay and do so planning far in advance works well for us, even at a higher cost.

We did 3 modest trips in 4 years on short notice, but mostly we are planners. I do a lot of photography when we travel and I am very particular about where and when we go. Spending around $30K/yr. This is likely to go up. For those overnight cross-Atlantic flights, we are going to start flying first class so we can sleep in some comfort. Also, my wife and her sisters plan a cruise every year, and one sister is taking a liking to Viking, which costs rather more.

[tmitchell]

This is great everyone, thank you. Interesting that there's an average of around $25k/yr which is right around what I've been thinking.

I signed up for Scott's Cheap Flights which has some really great deal alerts. I am hoping that once I'm out of the cubicle having the freedom to jump on these will help me make the most of the money .

[kingkarmann]

I have a classic car, singular, not a collection. I don’t really keep track of the spending associated with it. I do have a stash of old parts that I sell on occasion. That helps fund my hobby.

[dcrambler]

One thing to consider is that at some point you will more than likely be traveling domestic only due to age/medical risk and as you continue to age that should also go down. Have fun and enjoy the memories.

[Bamaman]

Quote:

Originally Posted by DrRoy We did 3 modest trips in 4 years on short notice, but mostly we are planners. I do a lot of photography when we travel and I am very particular about where and when we go. Spending around $30K/yr. This is likely to go up. For those overnight cross-Atlantic flights, we are going to start flying first class so we can sleep in some comfort. Also, my wife and her sisters plan a cruise every year, and one sister is taking a liking to Viking, which costs rather more.

Shoot, for what a Viking River Cruise costs, I can go to Europe 3-4 times on the frugal plan. Anyway, we've been to most of the towns they visit many times.

First Class flights? Surely they cost more than my $400 round trip flights to Europe. Flying coach is no big deal to me, as we're used to it.

Our 2020 trip to Berlin, Dresden and Budapest was cancelled by the airline. And ever since, we sure are bored. After traveling Europe for 50 years, I'm not ready to stop.

We're hitting Vegas in 2 weeks with the grandkids, however. Europe will have to wait another year--and it'll still be there.

[pb4uski]

Quote:

Originally Posted by tmitchell I'm trying to estimate costs and spending strategy after I leave work. As I'm planning to RE in my 50s and expecting to spend more in the first few years ticking off my bucket list I'm wondering: 1. How much on average do you spend on hobbies/travel annually (solo/couple)? 2. Do you just take this out of your portfolio along with expenses, or do you have a bucket set aside? 3. Have you seen a change in this over time, or has it remained relatively stable year over year (obviously pandemic made a dent, so I mean otherwise). Thanks!

1. About $15k a year.... 2017, 2018, 2019, 2020... $14k, $16k, $17k, $12k
2. No different from other living expenses
3. Pretty steady other than 2020