You can go beyond the pension arrangement already in place in your office. Consider making additional contributions into your retirement savings account or put your savings in investments you can rely on at retirement

5. Travel during off-peak times:

Since you don’t have to cram yourself onto Friday through Sunday flights to get back to the office anymore, take advantage of lower pricing during lower-travel times. That means flights that leave Monday through Wednesday, especially during the late morning or afternoon.

6. Get the discounts you’re entitled to:

Always mention that you are a retiree when you book and you may be able to get substantial discounts on hotels, flights, or rental cars. Some airlines offer discounted “senior fares” to anyone 65 or over who books online and some hotels also offer up to 50 per cent off for guests who are 60 and up.

7. Think about getting travel and health insurance:

One downer about retirement travel is that health issues are more likely to delay a trip than in younger years. For a pricier vacation, it may be worth purchasing travel insurance so you are not out the full amount of the trip if a medical issue comes up. Also, check in advance what your health insurance covers while you are abroad.

Most people underestimate the total cost of their travel, so when you are setting money aside, allot an extra 20 per cent for unforeseen costs. If you don’t end up spending it, you can always treat yourself to an extra-luxurious meal your last night or roll it over into your next trip.

8. Budget with a cushion: