Nov 7, 2018
Pattie Lovett-Reid: Boomers’ travel is a booming business
Whether it is a traditional vacation or epic travel adventure, 70 per cent of Canadian baby boomers have a travel bucket list, according to a recent poll by TD Insurance.
There is a shift in travel as boomers age with the freedom afforded by more disposable income and, in some cases, the luxury of free time post-retirement. And while travel being a dream many have in retirement, the type of travel is shifting as more boomers are travelling for adventure rather than relaxation.
Fifty-two per cent of those surveyed said they take two or more vacations each year and half the time it is for 10 days or more. This is a big business opportunity for a budding entrepreneur.
If you’re planning a trip, here are few reminders from TD before you go:
1. Follow your interests and figure out how you can get the biggest bang for your vacation buck.
2. Set up effective pre-departure preparations such as autopaying your bills, fill prescriptions, or update vaccinations.
3. Ensure your property is safe. This includes windows, doors, and garages. Ask a neighbour to check your property and document it, and watch for issues surrounding heating and water.
4. Understand what you are covered for and, more importantly, in some cases, what you are not covered for when it comes to insurance protection.
5. Make it affordable. You may have time, but not necessarily the money. Look for ways to negotiate prices lower and look to experts to help find travel deals.
