subject: Travel time for Silver Savers [print this page] Travel time for Silver Savers Travel time for Silver Savers
There are plenty of reasons to consider setting up a savings account, but for many Silver Savers, this could help them achieve the holiday they've always dreamt of. This could be anything from a luxurious cruise to a Kenyan safari. It might even mean a return to a favourite spot from years gone by. No matter where in the world you plan to go, the list of financial options that could help get you going is just as wide and varied. If you are looking at a particularly extravagant trip, it is worth considering the tax free return an ISA can provide. For those who already have a lump sum available, a fixed rate ISA will allow you to plan out exactly what you will get at the end of the term although you won't be able to access your money during the fixed term period. However, this way you can set goals for the future and get a better idea of when you will be able to take that dream trip. First of all, set a date when you know you will need to access your cash to pay for the break and come up with a plan how you will reach your target figure before then. If you want to work out what you think you'll have available to contribute on a more regular basis, an online savings calculator will help you budget.
The rise of the 'Grey Gapper' or people who are looking to take their gap year later in later life suggests that people are willing to wait to ensure they have enough saved up to really enjoy their trip of a life time. As well as incentivising you to save harder to make that trip happen, you will also know that there will be no financial holiday blues once you return from your travels. This could inspire many to reconsider their financial position and try to find a way to do the very same.
Of course, if you are planning the trip of a lifetime, an ISA or savings account could help no matter what your age. In fact, gap year students or those looking for a career break are just some of the people who could also benefit. But regardless of which category you fall into, an ISA could be just the kick start you need to get you one step closer to making that dream destination a reality.
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