International travel

According to Nickolas R. Strain, senior wealth advisor and wealth advisory committee chair at Halbert Hargrove, there’s no need to lock yourself inside the house to avoid spending money. The trick is to try to reduce your expenses as much as possible but still enjoy what life has to offer you every once in a while.

For instance, if you want to take a break from city life, go on a vacation but instead of going abroad and spending more money on an exotic holiday, stick to a less expensive place within the United States. If you manage to cut travel costs by $200 a month, this means $2,400 per year in savings and $60,000 over a 25-year period. That’s definitely an important amount that could help you out a lot in retirement when you’re living on a fixed budget.

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