Tuesday, December 10, 2019

AARP Trends Report Reveals Baby Boomers’ Travel Plans in 2019

Suitcase on the floor
Photo by Brandless on Unsplash

With investment licenses through Securities America Corporation, Leslie Goldstein leverages over three decades of experience in the financial services industry to inform his role as the president and chief investment officer of Personal Financial Strategies, Inc., an advisory firm he founded in 1996. An avid traveler, Leslie “Les” Goldstein has written and published articles for Kiplinger magazine, one of which focuses on how to determine specific goals in retirement. A frequent retirement goal for many of Les' clients is travel.

Baby Boomers who are either retired or nearing retirement at the age of 55 to 75 years old are making traveling plans earlier than in previous years. According to the 2019 Boomer Travel Trends, the most recent report published by AARP Travel Research, 31 percent of Baby Boomers had booked their international flights in 2019 compared to 23 percent in 2018 and 17 percent in 2017. Baby Boomers planned to go on trip destinations four to five times before the end of the year. They were projected to spend $6,621 for all their trips.

When asked about the general destination for their trips, 48 percent of the respondents chose to travel both domestically and internationally. Forty-seven percent of the respondents had domestic travel plans, only while six percent will stick with international trips. The top reason for the Baby Boomers’ travel plans is to visit and spend quality time with family and friends (57 percent), followed by the motivation to relax (48 percent), and finally, to escape from their daily lives (47 percent).