Retirement plan to support my "habit"

[Dogbowl]

I'm still many years away from retirement (unfortunately), but I'm also not young anymore. So, I'm thinking more and more about how I'm going to survive when I retire. I so regret not listening to the folks who said to start early. I admit, I've been unconcerned about this whole retirement planning thing until now. And I'm now starting too late, but at least it's a start.

Problem is...I picked up this relatively new habit and since I do not dive locally I have to travel to dive. Travel costs money, lots of it. Sure, I could keep costs low and go to Cozumel forever, but it's still several thousand per trip between my husband and myself. And when I'm retired, I'll want to dive lots. And see different parts of the world. And even stay at reasonably comfortable places. And sit in extended leg room seats on the plane (if not Premium Economy). And maybe buy new gear once in a while. And have nice dinners. Heck, I'll be old and I deserve it!

So I'm so sad right now because the thought of not being able to maintain this passion of mine during retirement due to financial constraints is KILLING ME! I'm so concerned that I'm actually thinking of doing a master's degree in what I do now, being more aggressive about my career (I admit I've kind of been in a rut about this) and hopefully, that will translate into more opportunities and more money for my retirement plan.

Maybe this passion is a good thing, motivating me to excel with the time I have left. I dunno. How do you guys do it? How did you plan for it?

I just want to add: Me and my first world problems.

 

[runsongas]

retirement in southeast asia is popular

 

[JamesBon92007]

If you fly SouthWest they are selling points right now +50%. That helps with some destinations.

We take the ADO and the ferry to Cozumel from CUN. Much cheaper than flying into CZM.

We stay at AirBnB and VRBO. That saves a lot.

We get low-fare alerts for flights to other places.

We usually get package deals on dives.

All of my plans for the future and retirement were destroyed a few years back and yet I manage 3-5 dive trips per year on some pathetically low income. It's all about priorities.

Right now the ferry is not looking so good and we plan to take in on March 6. They appear to all be shut down at the moment.

 

[Dogbowl]

If you fly SouthWest they are selling points right now +50%. That helps with some destinations.

We take the ADO and the ferry to Cozumel from CUN. Much cheaper than flying into CZM.

We stay at AirBnB and VRBO. That saves a lot.

We get low-fare alerts for flights to other places.

We usually get package deals on dives.

All of my plans for the future and retirement were destroyed a few years back and yet I manage 3-5 dive trips per year on some pathetically low income. It's all about priorities.

Right now the ferry is not looking so good and we plan to take in on March 6. They appear to all be shut down at the moment.

So there's hope for me yet. Priorities and compromises.

 

[Lorenzoid]

I'm sure a lot of us have had similar thoughts. I have some ideas. But no way am I going to work MORE and sacrifice my free time right now. I strive to maintain a work-life balance with plenty of time for diving. My thinking is to do all the diving I can now, while I'm physically in good shape. Who knows what tomorrow may bring. If I'm lucky, then in retirement I'll still be able to dive some. But I won't have the finances to do multiple liveaboards per year or anything like that. That will be fine with me. There are other things I can do to feed the diving bug.

One idea is to live in retirement somewhere more convenient to diving. This could mean local diving, such as living in Florida or Mexico, or it could mean living in a city with economical air connections. You can get anywhere in the Caribbean from Miami, for example. Also, I hope to be able to take advantage of last-minute dive trip offers.

 

[Dizzi Lizzi]

Great topic @Dogbowl ! I wonder how they do it also...trip after trip after trip!! Are they eating top ramen in between dive vacations?
I'm in the same sort of fix, and am playing catch up. When I started seriously thinking about retirement I was not diving. So things have changed. A friend suggested I not dive so much now so I can save money for diving later. UMMM NO! Tomorrow is not guaranteed. I dive as much as I can now, since I can.

 

[Dogbowl]

I strive to maintain a work-life balance with plenty of time for diving. My thinking is to do all the diving I can now, while I'm physically in good shape. Who knows what tomorrow may bring. If I'm lucky, then in retirement I'll still be able to dive some. But I won't have the finances to do multiple liveaboards per year or anything like that. That will be fine with me. There are other things I can do to feed the diving bug.

Can't agree with this more. ^^^

I will dive as much as I can possibly dive now, while I'm still in good health. I'm not "saving" the diving till retirement, but just in case I live that long, I'll want to dive lots when I retire too.

I'm just in a sad place thinking that maybe one day, I'll have to give up diving due to finances. No more liveaboards.

I've given up stuff due to health and that's sad. I just hope I don't have to give it up due to money.

 

[JamesBon92007]

Great topic @Dogbowl ! I wonder how they do it also...trip after trip after trip!! Are they eating top ramen in between dive vacations?
I'm in the same sort of fix, and am playing catch up. When I started seriously thinking about retirement I was not diving. So things have changed. A friend suggested I not dive so much now so I can save money for diving later. UMMM NO! Tomorrow is not guaranteed. I dive as much as I can now, since I can.

We eat quite well (no Top Ramen ever!) but eat at restaurants much more often (every day?) in Mexico. I don't have an iPhone or a brand new car. I find the best deals on flights, airport parking, places to stay, etc. I usually go with the best dive ops though and get several days of diving at a discount.

You are correct about "tomorrow." We are in our mid-60s and you just never know, so do it while you can.

 

[Dogbowl]

Great topic @Dogbowl ! I wonder how they do it also...trip after trip after trip!! Are they eating top ramen in between dive vacations?
I'm in the same sort of fix, and am playing catch up. When I started seriously thinking about retirement I was not diving. So things have changed. A friend suggested I not dive so much now so I can save money for diving later. UMMM NO! Tomorrow is not guaranteed. I dive as much as I can now, since I can.

I am thinking the same thing. If it's ramen people are surviving on, that's unfortunate. Ramen does not agree with me.

I've noticed that too...trip after trip after trip...they must've had a really good retirement advisor!

"Tomorrow is not guaranteed" - Totally my thought too.

 

[AdivingBel]

Make friends while you're dive traveling. It's a good way to find folks with common interests in a comfortable setting and can really pay dividends down the road. Doing things in groups of your own choosing can be enjoyable and cost effective. These can be groups you discover or one's you create. Traveling on your own especially with your SO (if that works out for you) is exceptionally fulfilling, but also mixing it up with group travel from time to time let's you do more. Investing isn't all about money, in fact investing time and effort into cultivating like-minded relationships can pay off just as much in the long run. Good luck on your diving journey.