Retirees Are Spending Their Time and Money on Adventure Trips — Should You?

There’s no upper age limit to travel, but you might be surprised to learn that the average age of adventure travelers has risen over the past few years. Much of this is due to more accommodating trips and better gear.

Adventure trips can be quite fulfilling, no matter how old you are but it’s all too easy to miss out. If you’re an older traveler, like a retiree, you might want to put a couple of these more thrilling trips on your bucket list. You could have the experience of a lifetime. If nothing else, you’ll have another great story to share with your loved ones.

But before you start planning your first — or next — adventure trip, there are a few things to consider. Chief among them is the cost and whether or not they’re actually worth the money if you’re on a retirement budget.

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Adventure Trips Offer an Unforgettable Experience

“Outdoor adventure trips are an amazing way to spend your time and money in retirement,” said Chris Urban, certified financial planner (CFP), retirement income certified professional (RICP) and founder at Discovery Wealth Planning. “I am a huge fan of spending money on experiences as these often lead to long-lasting memories, sometimes with family and friends.”

Whether you go alone or with someone else, very little can quite beat the experience these trips can give you. And especially if you’ve been spending a lot of time indoors or hard at work, taking one of these trips in your retirement years could bring a good deal of personal fulfillment to your life.

Plus, traveling can have positive effects on your mental health. According to WebMD, it can reduce stress and help alleviate certain symptoms related to depression and anxiety.

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Retirees Have Better Options Now

Among the biggest deterrents to traveling is the lack of accessible options or accommodations. But things have changed a lot in recent years.

“Today, there is far better infrastructure in place to remove many of the physical limitations of adventure travel, making it easier for retirees to participate. For example, platforms like Cloud of Goods allow individuals to rent mobility equipment — such as scooters and wheelchairs — and have them delivered to their destination,” said Punsri Abeywickrema, founder and CEO of Cloud of Goods.

“This alleviates some of the limitations and stress that have traditionally been associated with travel for older individuals,” he said. “There has also been a strong push to improve accessibility in airports, hotels, theme parks and more, allowing those with mobility issues to still enjoy their well-earned vacations.”

The Changes Aren’t Just Because of Improved Options

“I’ve noticed a definite shift in the adventure travel scene — more and more retirees are opting for ambitious, challenging and exotic trips,” said Michael Donovan, travel expert and the co-founder of StayNewEngland.com. “There’s no doubt improved gear and tailored offerings play a role, but I believe there’s a deeper motivation at work.”

“Many retirees see this new chapter as a chance to finally tick off their bucket list, so they’re willing to invest time and money into making their travel dreams a reality,” he said. “In a way, retirement launches a second youth for some people. With more free time and disposable income, retirees can embark on the epic adventures they’ve always imagined.”

Retirement, Donovan said, isn’t the end of an active lifestyle. It simply marks a transition into something new or different.

Many Older Americans Are in Better Health

Health plays a major role in a person’s ability to travel and go on other adventures. These days, more retirees — especially those who’ve only recently retired — are in better health than older retirees and are looking to take advantage of that.

“Right now, we are near the peak of the population turning 65 years old, often referred to as ‘the Grey Tsunami.’ So, in absolute numbers, there are more retirees than ever before. And travel is at its peak in the first decade of retirement,” said Jennifer Kirby, fiduciary financial advisor and managing partner of Talisman Wealth Advisors.

Many younger Boomers, Kirby said, are in better health than their older counterparts. This is largely due to them giving more attention to health and wellness throughout their lives. It also makes adventure trips more feasible.

“There is often a sense of urgency to have adventure experiences while they are still physically capable,” Kirby said. “What we often see is that retirees frontload the expenses on this kind of travel for the first few years after they stop working and then the spending starts to drop until the very end of their lives when healthcare needs pick up.”

Cost Is Still a Key (But Not Defining) Factor

According to Budget Your Trip, the average cost of a seven-day trip in the U.S. is $3,982 for two people. This includes accommodations, airfare, meals and local transportation. It doesn’t, however, include tickets to things like ziplining, skydiving or water rafting.

That being said, you could still take an adventure trip if you’re on a retirement budget. You might just need to plan your trip a little closer to home.

“Even on a tight budget, retirees can still plan for adventurous travel — whether that’s saving for a bigger international trip or planning for a unique experience closer to home,” Abeywickrema said. “These days, there are so many great resources that can allow older individuals to discover new destinations that may be just a short distance away.”

Limiting how many trips you take can also help ensure you have the resources needed to have the experience of a lifetime.

“Even on a relatively tight budget, adventure trips can still be worth it with the right financial strategies,” said Ann Martin, director of operations of CreditDonkey. “For example, limiting yourself to only one or two trips per year can be a good way to ensure you can see the world without blowing your budget. I also suggest putting aside a small portion of your monthly income in a high-yield savings account or other interest-earning account so you can grow a ‘travel fund’ for yourself.”

Costs To Consider With Adventure Trips

Among other things, the cost of travel is going to vary based on where you’re going, how long you’re going to be there, how many people are coming with you and what you want to get out of the trip. Keeping that in mind, here are a few adventure trips and what they might cost:

Northern Lights trip: Donovan said a roundtrip flight from the U.S. East Coast to Iceland costs around $400. Add on a campervan rental so that you have somewhere to stay and a means of transportation for around $50 a day and you’ve got most of your trip already sorted.
Everest Base Camp Trek: An all-expenses-included trek ranges from around $2,500 to $3,500, though you could end up spending more — or less — based on where you start.
Week-long cruise: A seven to 10-day cruise could cost around $1,500 per person, depending on factors such as destination, whether you need to fly into the port and cabin type.
Around the World cruise: According to CNBC, the starting price for one of these cruises, which lasts for about three years and spans all seven continents, is around $29,000.
Danube River cruise: A Danube River cruise costs anywhere from $2,231 to $10,290 for a weeklong experience that includes most of what you would need.
Smaller adventure trips: Whether you’re into ziplining, white water rafting, kayaking or snorkeling, prices range quite a bit. Keep things local to save money or combine several options in a bundled tour.
African safari: Starting at around $150 a night (not including transportation or accommodations), you can do an African safari tour.

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