Travel/hobbies budget in retirement

[1242Vintage]

We just retired last year as Covid locked us down and are now on our first trip in over a year. Our typical travel spend as we approached retirement was approx $10k a yr total for both of us.

We don’t have a separate budget, just take it out of our ongoing income stream.

And as far as hobbies go, I’m an amateur mountain, gravel and cyclocross bike racer. Wife says I’m actually addicted to the sport. I spend $5-10k total annually on race fees, travel, supplies, bike parts, and the occasional co-pay at the urgent care.

 

[daylatedollarshort]

Our travel has varied widely over the 13+ years of retirement. Some years are zero. Overall, much lower than original budget. Traveled so much during prior years, both personal and business that between that and the hassle of air travel we have largely skipped long trips. Once you've seen a few dozen gothic cathedrals, you realize they are mostly the same.

We're in the same boat as you on travel in retirement. For now we're doing more activities like lunch and a museum visit in the city or a day trip to wine country. If we ever feel bored with that we may consider longer distance type travel, but so far we've stayed entertained with local outings. We do travel to visit / take care of family and that budget just kind of is what it is.

For hobbies / entertainment, I spend $500 - $1K a year on annual passes and then a lot of what we do each month is free or cheap. For under $1K a year I can buy winery, zoo, restaurant discounts, theater, senior club, garden, park, museum and seat filler memberships / passes. Reciprocal benefits mean one museum pass gets us into most of the other museums in the state for free. Likewise with the other passes. The theater and seat filler groups usually have unsold tickets every week for live events so we go to events like the symphony or plays for free - whatever is on the various lists for those weeks and usually there are 40 or so events to pick from.

We spend another few hundred a month on club activities and dining out groups / going out with friends. If it was just us I would be happy with the passes as those have literally thousands of events each month between them, but we live in wealthy area so even the frugal dine out groups are what I would consider pricey. But we'd have to move or go without friends to get those costs down more so they are what they are.

 

[Scuba]

We do lots of last minute specials.


We used to believe that pricing is better the further out you book. Certainly do not believe this after 9 years of frequent post retirement international last minute travel.

We have picked up cruises a week prior to sailing, AI resorts four or five days prior to departure. Often when we are in the middle of independent land travel.
We seldom book more than a few days ahead on those trips. The only exception to that might be rental cars.

Some of our best international airfares have been purchased within 14 days or less of departure.

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.

 

[roadtripper]

Back to traveling!

We started traveling again now that we're all vaccinated. Just got back from a trip to Zion, Bryce, and Las Vegas. Disney in September, and a Queen Mary 2 Caribbean cruise scheduled for November. These first few years will be big expenses travel-wise, but I budgeted for it.

I retired from teaching in June and I am a travel agent as a side gig, so I'm grateful that I wasn't relying on commissions to supplement my pension income
[MOD EDIT]

 

[Dtail]

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.

Same with but sans dog. We are both big planners, as it is just a natural part of our personalities.
However we are very spontaneous with non travel activities and also with things to do in Florida.

 

[GenXguy]

1. How much on average do you spend on hobbies/travel annually (solo/couple)?

I don't budget anything for discretionary spending. It's not a line item on my budget, but I have a calculated amount of drawdown/income in retirement that will exceed my required budgeted expenses significantly, so that excess can be spent on discretionary such as hobbies, travel, buying fun stuff that I don't need, dining out, etc. So, it may be north of $50K for discretionary (on me alone) in a particular year by following that calculated drawdown, but I expect it to be well less than that most years because of my long term frugal ways, which means a good amount of the excess will just stay in the stash most/every year. I just can't seem to get myself to spend the extra dough, even when I can easily afford it! lol $50K is many times higher than I spent on discretionary spending in any year of my working career. Oh, I'm not interested in very much traveling, and I'm more likely to keep my traveling on the low cost end of the spectrum, so I expect to spend a small fraction of that $50K available for discretionary on traveling. I could see $5,000 for traveling some years, probably less most years. My hobbies are low cost, so I don't see that taking a lot of my discretionary dollars, either. I'll have to figure where to spend more money, if I can actually get myself to finally spend it! lol

No buckets set aside - it's all one big stash.

 

[oiseux]

Our current budget plan as $50K/yr on travel, and $2K+ per month on hobbies/personal (excludes gym, continuing education, hair, massage, subscriptions, etc). There is another $3K/mo on food/dining out that can be tapped into.

 

[deserat]

We do lots of last minute specials.


We used to believe that pricing is better the further out you book. Certainly do not believe this after 9 years of frequent post retirement international last minute travel.

We have picked up cruises a week prior to sailing, AI resorts four or five days prior to departure. Often when we are in the middle of independent land travel.
We seldom book more than a few days ahead on those trips. The only exception to that might be rental cars.

Some of our best international airfares have been purchased within 14 days or less of departure.

How do you do this? Do you use any special websites or do you just randomly search? Is there a comfort level you target (2,3,4,5 star or roughing it?)? Do you have a list you are working/checking off?

Very interested in your techniques.....I usually plan, but am interested in becoming a bit less regimented in the future.

 

[FreeBear]

...


After extensive domestic travel before retirement, we seldom travel in the U.S. We keep a RV in the Blue Ridge Mountains and we have a lake house an hour away. We really don't have the time to get away often. And we no longer are visiting the mega cities in the U.S. either--too congested. We prefer nature in our retirement.

Many people that put in 30-40 years on the job didn't have the opportunity to see the USA because of their jobs. I certainly understand their wanting to hit the road. But with hotel prices rising, figure $250 a day when you travel.

Did some long haul travel out to Asia when w*rking, so I don't miss air travel at all. Heck, I don't miss w*rking either! DW was getting me geeked for a trip to Greece in 2020. We'll that didn't happen because we bought a new house 2000 miles away instead, just before covid shut everything down.

We've spent virtually all our energy and $$ getting the new house ready and moving in long distance. We just realized we have spent the last 2 years just doing house stuff and we need to get back to traveling.

So, we just got back from a wonderful 5 day trip to Sedona in a rental RV, our first time RVing. We loved it so much we're going to the Grand Canyon in a few weeks in another rental RV. We love SE Arizona because things we want to see are within a day's drive. Before we had to endure 2 long, boring days of driving just to get to the interesting stuff.

As for daily costs, we're close to Bamaman's $250/day, averaging just over $200/day for driving our little suv, Hampton Inn overnights, and a single good meal. In comparison, our RV glamping experience was quite pricey at $370/day. Even more shocking, owning an RV would actually cost more than renting until we hit the break even point over about 45 days. Still, I loved watching the sunrises over the mountains outside the RV.

So, we budget $8K/yr for travel. We only hit this one year when we were on the road 50 days straight. We actually planned for 12K that year, but couldn't spend the $$ because some house drama had to be dealt with. If we really get into RV'ing, this budget could double or triple, although most of this would be in terms of depreciation and opportunity cost of $$ not in the market.

 

[fosterscik]

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.

This describes us to a tee. Our budget is nominally $30k per year for two. Not hard and fast and will be higher next year because we did so little since Covid emerged.

 

[skyking1]

We did not travel for work and have only limited experiences on our own, so that factors in to how much we will be running around in retirement. It helps that not all the typical destinations appeal to us both. I think we will burn out on it after 8~10 years if we are lucky enough to stay healthy.
As with brett, I hope to be more spontaneous. I did so flying around the US and to Alaska and those were the best trips IMO.
Currently we have the same dog concerns as Scuba but we do have a live in dog sitter for now.

 

[brett]

How do you do this? Do you use any special websites or do you just randomly search? Is there a comfort level you target (2,3,4,5 star or roughing it?)? Do you have a list you are working/checking off?

Very interested in your techniques.....I usually plan, but am interested in becoming a bit less regimented in the future.

We use all sorts of web sites. We stay in everything from B&B's, one stars through to six star resorts. One of the reasons is that we do not want to be committed for days on end if we get somewhere and not like it. Last Mexico trip we thought we would love Huatulco. It was ok but after two days we knew we wanted to move. Opposite in Puerto Escondido, Acapulco, and Zi. We booked ahead for a few days but extended to seven in all three.

We may see accommodation on the booking sites but we try to contract the owner direct. A 350 euro stay in a Zakynthos condo cost 250 euro after contracting the owner direct and paying cash. We also look at travel consolidators such as TUI in the UK. Last trip to Mexico we bought two different 5 night resort stays with them. Good savings over buying on other sites or even buying direct from RiU. We have done the same in Portugal and in Cyprus.

Best advice...get on the web and poke around. I have spent hours doing it but evenutally you come up with an approach that works.

Domestic air in Turkey on the Turkish website was about 25 percent less expensive that the international type booking sites. Same for Argentiina. Calling down to their call center in BA (their 1-800 north america call centre gave us the phone number) saved on 30 percent on our in country air fares.

We did a SA safari when we first retired. Did the research. We went to see a local TA who was supposed to specialize. Not happy so we went to tripadvisor, got some recommendations, and dealt directly via skype and email with our chosen tour company. Considerably less cost than our local TA AND much better information and detail.

 

[daylatedollarshort]

I have been surprised that more posters here, at least the ones in urban areas, don't post more about last minute deals on live events. Venues want to look filled and we're usually free to go to events on short notice, so for retirees like us, it is a win - win. The first event we went to on seat filler tickets we had front row seats to a splashy musical in San Francisco and we've been hooked ever since.

 

[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

 

[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. We generally took 2-3 international trips a year plus a cruise or two and have been including a month here or there in that. We've done 5-6 weeks a few times but I can't imagine wanting to be gone for longer. Sometimes some of the cost is offset by DH's doing some business - giving lectures, whatever - that means we're partly hosted, which is nice even if there were no financial gain.

We got a US trip to AZ in before Covid hit last year but have been saving money like crazy and only have a local family get-together and a deferred cruise planned for 2021. We are so hoping we can get in some of the previously planed international trips done by 2022. We're not getting any younger and our kids are starting to form families, which could keep us home more.

 

[mystang52]

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]

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]

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_]

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_]

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]

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.