What to do after retirement-this is a question that haunts most of the busy professionals. They refrain themselves from the thought of life post-retirement. Is the life of the retirees truly boring? Many retirees find it difficult to leave behind their service life and begin a completely new chapter. But, there are ways to make the life happening after you leave work.
Travel is at the top of the agenda. 40% of the retirees or those going to retire soon aspire to travel extensively. Majority of the people do not have the time to enjoy leisure hours when they are doing some kind of jobs. When you retire it is the ideal time to fulfill your long cherished dream of gambling in Las Vegas, traveling to a different country or driving down the route 66. Consider the life after retirement as a long holiday.
43% of the people think that the retirement years will be most exciting part of their lives and two thirds actually utilize the time to fulfill their imaginations. Finances often hold back these retired fellows to achieve their ambitions. People in their 40s and 50s have many hopes. However, at the same time they must think of the financial requirements. In order to be financially comfortable when they have given up work, investment planning is essential.
Purchase a vacation unit
The prime focus of any travel plan is the accommodation. Though, the aged travelers have the liberty to go for a vacation at any time of the year, some destination are overly crowded almost throughout the year. It will be difficult to manage a comfortable stay in Las Vegas or Orlando, at what time of the year you plan a tour.
You can think of investing in a timeshare in one such popular location. You may buy the right to use a specific unit of a resort for particular time of the year. Before, you proceed to invest in a timeshare property think of your traveling habits. Remember, you will use the property most after leaving the job. Generally, retired people like to relax in their vacations away from the hustles and bustles of the city life.
Do you share the same interest? Take your time and try to find the place that will suit the budget and requirements. You can expect a good deal in the resale market. There will off course be people in the industry trying desperately to off-load their weeks. In order to avoid costly pitfalls, take a learned decision.
The key points that you need to understand before investing in a timeshare are:
- Value of the timeshare will not appreciate. Therefore, do not consider it an investment
- Owning a timeshare you will be able to keep your vacation costs minimum
- You have to provide an annual maintenance fees. The maintenance fees can also change
Know your options
There is a misconception that the owner of the timeshare can visit a specific location at a particular time to enjoy the privileges. Is it so? Although, you have dreamed for an entire life to visit Las Vegas and try your luck in gambling, going to the same place repeatedly will make it boring.
There is a fixed time option that enables you to use a unit at the specific time of the year; you can also go for floating option. You can use the timeshare in a certain season of the year with prior booking. However, the confirmation of stay will be on first come first serve basis.
An annual week is often an insufficient time when you have plans to make the retirement years exciting. Instead of purchasing a resort unit for a week, you may elongate the time period. Point based vacation plans are even better. You can purchase certain points and exchange the right to use the interval at one or more location. In points based system, the number of points you need to use an interval depends on the length of stay, location of the resort, size of the unit and when you want to use it.
Apart from the points based exchange system, you can also exchange your timeshare with another owner with an equivalent unit at a different location. Therefore, timeshare ownership does not mean traveling to the same location year after year.
In the long run, when the owners do not require that property, they can put up their timeshares for rent, bequeath, sell or exchange it. Once your accommodation problem is solved for good, you can plunge into the thoughts of making your retirement years wonderful.