Home Budgeting Savings How to make a nest egg from your empty nest

How to make a nest egg from your empty nest

Every parent knows the mixture of feelings that occur when children leave home. There is happiness that they are independent adults and perhaps a little sadness as well.

After all, your life has revolved around them for so long. Now though, you are free to do what you want. With the financial burden lifted, you have both time and money to enjoy.

There could be a whole world of opportunities waiting for you.

As a parent, no doubt you have sacrificed some of your dreams for your children. Well now is the time to let those dreams become reality, whether it involves a new hobby, travel, or home renovations.

You have a tremendous advantage in being mature and financially more secure. It is an adage that money creates money and you can benefit from this in many ways.

Low-interest loans and favorable credit card interest rates are just two of the ways you can decrease costs and therefore increase savings. This advantageous combination gives you the freedom to do what you want.

Perhaps you have always wanted to travel and see the world. Increasingly, ’empty nesters’ are taking their own form of a gap year, where they travel abroad and immerse themselves in other cultures.

The Guardian Newspaper reports industry figures that each year, around 220,000 adults between the ages of 55 to 65 set off on this type of adventure. So now it is your turn!

Have you ever felt a desire for a particular place? Perhaps watching a pride of lions resting in the hot sun of the African Bush, or maybe, exploring the Monasteries and palaces of central Europe?

You could experience the elegance and exclusivity of being a guest on the world-famous Orient-Express. It is the height of sophistication, with refined dining, personal stewards, and opulent surroundings.

Or maybe you would like to offer your wisdom and knowledge in less-developed countries? Teach English to underprivileged children in Latin America or help build wells in an African village.

Research suggests that these sorts of adventures benefit the individual as much as the people he or she is helping. Learn, discover and experience worlds that you had only ever seen on television before.

If you are planning on being away for some months, consider renting out your home. This can provide extra income, which you can combine with any of the low-interest loans, to fund further and even more exciting adventures!

Or maybe you enjoy staying at home but have always admired the sleek, shiny body of a speedboat or racing car? With financial responsibility for your children lifted, why not treat yourself?

An old English is saying that a person’s home is their castle, so you could renovate the kitchen, install a swimming pool or landscape your gardens. Perhaps even do all three!

Now is the time to take those long-held dreams and let them live. You have rightly made sacrifices for your children but now it is time to enjoy new and exciting adventures. Bon, voyage!

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