Americans are dreaming of traveling in retirement, but not saving for it, according to a new study by the Global Coalition on Aging and the Transamerica Center for Retirement Studies.
The survey, Journey to Healthy Aging: Planning for Travel in Retirement, shows that 59 percent of Americans want to travel when they retire, but only 18 percent have factored travel into their financial planning for retirement.
People who travel are more satisfied with their lives, according to the study. Eighty-six percent of those who travel are satisfied with their mood and outlook on life, compared with 75 percent of those who do not travel.
In addition, 77 percent of Americans who travel report satisfaction with their physical health and well-being while 61 percent of those who do not travel say the same. Sixty-three percent of travelers report walking more while on vacation than they do at home.
Traveling also is good for the brain, according to Dr. Paul Nussbaum, president and founder of the Brain Health Center Inc., because it challenges the traveler with different experiences and environments.
“Americans are only just beginning to understand the value of travel for physical and mental well-being and social connections,” says Catherine Collinson, president of Transamerica Center for Retirement Studies. “Armed with this new knowledge, Americans must now take action and begin saving for travel as a means to live longer, healthier and more fulfilled lives.”
The study included 1,500 United States adults.