My plans to travel the world when I retire

I have been a fully self employed blogger for just over 6 months now. I am fully embracing the freedom & challenges of self employment and if I am honest, I don't ever think I could return to an employed role. This was never a direction I expected my life to take - when I was at school and spoke with my careers advisor, self employment was never mentioned and something that I just never considered.

At High School Prom - Self Employment was never an option

Thinking towards the future, I have previously relied on my NHS pension which was automatic and I didn't need to think about it. I knew that it was a 'good' deal and liked the fact that it was easy and simply taken from my pay at the end of the month......one last thing to think about! Now that I'm self employed however, it isn't so easy and I think it's time I started thinking about my future a little more carefully.

Our Retirement Plans


Ideally, I would love for both myself and Steve to retire at aged 60. Steve works so hard in a call centre and pays quite a bit into his work pension and has done since his twenties. I am hoping this will allow him to retire at 60 and this will give us some time to travel the world together. Yes I know I am only 32 and this is 25+ years aways for me but I have already started looking at round the world cruises and planning our itinerary. I just can't help myself! Apparently, a 'round the world' cruise isn't the best way to see the world as you spend a lot of time at sea so I think we will probably take a few shorter trips seeing various destinations on our bucket list across 4-5 years. This also means that we won't spend too long away from home and our future grandchildren. 

My plans to travel the world when I retire

The top 5 destinations we would like to visit in our retirement:-

*Stay in an Igloo/Ice Hotel - £1500 each
*Cruise around Hong Kong/Thailand - around £1500 each
*An African Safari - around £2000 each
*A Caribbean Cruise - around £1500 each
*Stay in a 5* Hotel in Las Vegas - around £1500 each

Total = £16,000

Now this is before we take into consideration any spending money/insurance costs and I still have another 25+ years to add to the list so I am sure it will continue to grow. 

How we will fund our grand plans


The rules around when you can claim your State Pension and how much you will receive are constantly evolving and who knows what the rules will be when I hit retirement age. To be honest, I would rather not rely on having to collect my State Pension and the amount I am likely to receive won't come close to being able to fund my grand plans. According to this Government calculator I won't receive my State Pension until 2051 when I'll be 68. Wow that seems like forever away!

I have decided to find out more about my options for saving for my future dreams whilst being self employed. I need someone with experience who will cut through all of the jargon and tell me in simple terms how much I need to pay into my pension every month to receive a lump sum that will cover the cost of my future travel plans plus hopefully a little bit every month to ensure I can lead a comfortable life. Newcastle Financial Services Limited (part of Newcastle Building Society) have created a FREE guide that cuts through the jargon and answers the following questions:-

*How to plan for your retirement
*Details on the many types of pension available to you
*How to access your pension when you retire
*Why annuities are important


I have sent away for my guide and after I've read up a little I'm going to make a no obligation appointment with a NFSL Financial Planning Manager at my local Newcastle Building Society branch to discuss my options and plans with a real life person. I am really excited to be making steps towards our future travel plans.

Giveaway


The lovely people at Newcastle Building Society have given us a £50 Paperchase Gift Card to give away. One lucky winner will be selected at random and will be able to treat themselves to lots of lovely stationery to plan for their own future. Simply enter via the rafflecopter giveaway widget below. Good luck. 

win a £50 Paperchase gift card with Newcastle Building Society


This post has been commissioned by Newcastle Building Society and does not constitute financial advice. All thoughts and words are my own.

Terms and Conditions
UK entries only
Over 18's over
One winner will be chosen at random and informed via email within 7 days of the giveaway closing. They have 28 days to reply and claim their prize.
Prize will be posted to a UK address only.
Prize - a Paperchase gift card to the value of £50
Entrant's email addresses may be added to the Newcastle Building Society Marketing database from which you can opt out at any time. Details will not be passed onto any third parties. 
Competition closes at midnight on 10th April 2016

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108 comments

  1. I intend to spend a lot of time in Spain when I retire. Or win the lottery.

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  2. I'd love to go on a a few cruises to see as much as the world as I can.

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  3. I'd love to see either France or Japan x

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  4. My local seaside, I've always wanted to live near a seaside :)

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  5. I'm still at university so retiring is in the very far future for me bur I would love to travel also. Hopefully I get to do some sooner rather than later also.

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  6. Love that you're already planning your retirement travel Sam!!!!

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  7. I would love to go back to visit the Italian lakes, like I did when I was a student

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  8. I've always wanted to go across the USA. Thanks for the lovely giveaway.

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  9. I'd love to travel around India and the south pacific islands when I retire

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  10. I've always wanted to go to Austria and Switzerland

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  11. I'd love to travel around America, and Canada.

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  12. I have always wanted to visit Oxford.

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  13. would love to go to japan.

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  14. I'd love an Australian dream trip x

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  15. I'd love to travel around Scandinavia

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  16. If all goes according to plan I may be living in California by then, lots to do with myself over there.

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  17. I' d like to visit Hawaii. Though I'd also like to visit Australia.

    Rachel Craig

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  18. would love to live in southern France xx

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  19. I'd love to visit Canada and see the National Parks!

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  20. I plan on retiring to a pretty UK seaside somewhere so I am close to my children and family

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  21. I would love to travel to Australia.

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  22. I'd love to travel around America

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  23. Somewhere in the Deep South in America

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  24. I would love to go to Florida

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  25. I would love to visit Iceland to see the Northern Lights!

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  26. I'd love to travel to Iceland to see the Northern Lights!

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  27. I would love to visit Iceland to see the Northern Lights!

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  28. I'd love to tour Italy and to visit New Zealand.

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  29. We will be doing a full world cruise on Cunards QM2.We have saved for years

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  30. I already love to travel, but in retirement I'd love to visit Alaska on a cruise and stay with a rail tour on the Rocky Mountaineer :)

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  31. Would be nice to go to Jamaica

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  32. I'd love to do a Route 66 trip across the USA!

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  33. New york, I would love to explore New York :)

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  34. Would love to see all the sights in Australia

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  35. Would like to stay in Tenerife over the winter months

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  36. I have a huge bucket list so where do I start? Iceland first I think.

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  37. America....I would love to do aa tour of the whole of it!

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  38. I would love to go back to New Zealand!

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  39. I would love to visit Australia that would be amazing!

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  40. I'd love to travel across Route 66 in the USA

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  41. I would love to hire an RV an tour America when i retire

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  42. i always wanted to go to usa

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  43. I'd love to go to Japan to experience a totally different culture

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  44. Anywhere hot and sunny!

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  45. Rosie Holloway3 April 2016 at 13:54

    We would love to go back to Kefalonia, buy a villa out there and retire. Major dream and will only come true if we win the lottery as our pensions are a bit rubbish!!

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  46. I would love to bounce round the Caribbean islands.

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  47. I'd love to see the Grand Canyon x

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  48. I'd love to tour Japan right from the frozen north to the tropical south.

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  49. i would like to go somewhere warm

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  50. Would love to go to the Maldives, looks so tranquil

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  51. Portugal again as i love it. Or New Zealand would be great x

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  52. Maybe I'm in a different category because I am a Nana to 3 grandchildren, retired and fulfilling my dreams of travelling to what I consider to be the most interesting countries. This month I go off to travel Japan and then I only have the Phillipines in Asis to visit (food and culture are my main interests) Next on the list is Route 66 after having toured the Deep South.

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  53. I'd love to travel around North America

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  54. I'd love to spend time in Canada

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  55. I'd love to go on a round the world cruise :)

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  56. I live in Cornwall already so my dream has already come true but I would love to visit Scotland one day.

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  57. Would love to tour around Australia

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  58. I really want to go to Australia (nothing to do with my fav actor being Australian). Loved Florida as well, so that would be good too. :)

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  59. I would love to travel to New Zealand & Australia - such contrasts between the two, and so much to see & do

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  60. Spend some quality time with family in Mauritius

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  61. Zoe Stephenson9 April 2016 at 16:31

    I'd love to be able to spend time touring USA when I retire or maybe sooner if I'm lucky

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  62. I plan on going to Japan. I would love to spend some time there, at least 3 weeks!

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  63. My number one travel wish is to visit anywhere that I could get a really amazing look at the Northern Lights

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  64. I'd love to travel round New Zealand. I'm lucky that I did a lot of travelling before I had kids & bought a house so have been to lots of countries, but that's one place I never made it to.

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  65. I would just love to retire and spend my life in Ireland

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  66. I would love to drive Route 101 in America

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  67. I'd love to visit Australia - so much to see there and so different from our scenery etc.

    Hazel Rea, - @beachrambler

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  68. Pam Francis Gregory9 April 2016 at 21:16

    The Caribbean

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  69. I'd love to go to Italy, Budapest, and Barcelona! Just a few places, hopefully I will have visited a lot I want to before I retire like Germany and Aiden (where my grandad was during his time in the army), Australia to meet family ive never met before, Shri Lanka to see the elephants and I'd love to go swimming with Wales somewhere but my list if forever growing!

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  70. OMG this list is very long but I would love to Explore the USA & Canada :)

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  71. I would love to go to Las Vegas! :)

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  72. I long to visit Paraguay and Uruguay before they change forever.

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  73. Philip Underwood10 April 2016 at 13:36

    I would love to go to China to see the Terracotta Army!

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  74. I would love to travel on the Rocky Mountaineer.

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  75. I'd love to travel round Canada when I retire!

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  76. Definitely going to spend a year travelling in the USA, and a trip to Japan :)

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  77. No idea yet, but somewhere sunny and settled ;3

    Quirks & Queries

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  78. I don't think I will have the energy when I'm retired... so I'm travelling as much as I can now, since my dream of having children hasn't happened just yet.

    I could fancy living abroad during retirement though... perhaps doing some English teaching in India or Sri Lanka (I just got back from there on Tuesday, wonderful place with so much potential).

    Love reading your North East based adventures.

    Laura (Gosforth) xx

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  79. i would visit India, Kong Hong, Singapore and Cuba are just some of the places i hope to visit

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  80. I tend to think more about the present - who can say what will happen in the future? I try to travel at least once a year - in the summer I will be going to Jamaica, then in the winter I will be going to France and Italy skiing. A few closer to home trips will include Southern Ireland and Cambridgeshire.

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  81. I would love to do a round the world cruise, or stay in Yosemite national park for a few weeks.

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  82. I would travel around Europe

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  83. I'd love to go to Guyana, it's where my Grandma is from.

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  84. Canada - my mum was born & raised there

    Kelly Ellen Hirst

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  85. I would love to visit the Great Wall of China. Thanks xxx (Ruth Wollerton)

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