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Living on a fixed income from Social Security certainly won't make retirement dreams of relaxing on Caribbean beaches or cruising the canals of Venice a reality. To protect their precious savings, retirees can't afford to overspend. But you also don't want to be stuck at home watching daytime TV for the next 30 years.
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The good news? With a few clever tricks, you can satisfy your wanderlust without going bankrupt. Just ask Shirley R. of Phoenix and Bob D. of Burbank, California, two globetrotters who are thriving on a shoestring Social Security check while traveling the world.
Looking for discounts is a must
For Shirley, the No. 1 task when she left her job was to become a world-class discount hunter. “First and foremost, I am an avid searcher for deals and discounts on all things travel-related,” she says. “From letting deal sites like Going (formerly Scott's Cheap Flights) do the hard work of finding bargains on airfare to taking advantage of senior discounts.”
Whenever she travels with her husband, she frequently whips out her trusty AARP card to score discounted hotel rates, senior cruise fares, and even rental car rates. Package deals that combine hotels, flights, and activities into one price can also save you a ton of money.
Read more: 3 destinations that are like Hawaii, but a lot cheaper
Off Season Sale
Bob takes a similar approach, with one big twist: He only travels in the off-season, when destinations are less crowded and demand is lower. “You can save a ton of money just by avoiding the times when demand is highest with families and crowds,” the retiree says. “If possible, it's a good idea to go in the off-season.”
He targets travel dates during the off-peak periods of spring and fall to cut costs by up to 50% compared to prime summer times, and excludes holidays like spring break, when prices tend to skyrocket.
Home Swapping or House Sitting
Shirley has turned to other methods to drastically cut down on her accommodation costs: “Home swapping or house sitting for someone allows me to stay anywhere for free for weeks at a time.”
While spending a few weeks as a pet sitter or housekeeper might not be everyone's cup of tea, Shirley loves the opportunity to immerse herself in the local culture and live like a real local instead of being crammed into a cramped hotel room. The savings compared to paying for a room are huge, especially for an extended vacation.
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Retired Travel Crew
Bob leveraged the power of retirement travel groups and communities to team up with like-minded retirees and save on numbers. “I join several travel clubs and groups that are just for retirees, and they can help you travel at group rates or find travel buddies to share the costs,” he said.
Affordability comes from the combined purchasing power of retirees, who can book larger accommodations suitable for multiple couples or get discounts on group tours and activities.
Credit card benefits
Finally, neither Bob nor Shirley could sustain their jet-setting globetrotting lifestyles without maximizing the value of that original money-saving trick: travel-rewards credit cards.
“Whenever I can, I use my credit card points for free flights and hotel stays,” Shirley says. “It takes discipline to make sure I pay it off every month, but if used right, these cards can provide you with free travel.”
Bob also says that travel rewards cards are a “game changer” for budget travel for retirees: By switching between cards for big welcome bonuses and focusing all your spending on cards that are lining up to earn new bonuses, you can easily accumulate hundreds of thousands of points a year to redeem for free travel.
Shirley and Bob prove that with these professional-level savings tips, even retirees living on Social Security can travel the world. So don't give up on your bucket list just because you're on a fixed income. If you have the will, there are ways for retirees to continue pursuing all their travel dreams, even on a tight budget.
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This article originally appeared on GOBankingRates.com: I'm a Retiree: 5 Ways to Travel on a Social Security Budget
