One of the great benefits of retirement is having the freedom to pursue new interests and hobbies at your leisure. For many, travel is at the top of their retirement bucket list. The key question is how to make sure your retirement savings can keep up with your travel ambitions. The following considerations can help you determine your answer:

Make travel a part of your retirement budget. Without the funds to pursue travel, you likely won’t get too far. As you plan for your living expenses, include travel as a line item in your retirement budget. Identify a portion of your monthly income to cover travel expenses before you hit the road.

Consider travel timing. Most retirees plan their biggest travel excursions in the early years of retirement, when health challenges may be lesser and they have more stamina. Therefore, your travel budget may represent a larger portion of your overall expenses in the first years of retirement. If this aligns with your travel vision, factor it into your retirement budgeting strategy.

Determine your travel style. To come up with a reasonable cost estimate, identify the types of traveling you plan to do. Are you more interested in short trips to nearby locations, mostly traveling by car? Do you plan to explore the country in an RV? Are you looking to visit foreign destinations on a regular basis? Your travel goals will tell you a lot about how much you are likely to spend, which should be reflected in your retirement plan.

Find ways to cut costs. It’s easy to face “sticker shock” when you travel. Expenses like food (usually eating out), lodging and transportation can add up quickly. If you plan to stay in one place for an extended period, look into renting a home or apartment rather than “hotel-ing” it. Try to eat like the locals by buying food at grocery stores and markets. Take the time to look for flight deals or make your automobile travel routes as efficient as possible. One of the perks of being retired is that you may have more flexibility than working people to lock in deals by traveling off season or at other unpopular times.

Don’t overlook insurance needs. Travel insurance may be appropriate if you get sick or lose luggage on a trip. Keep in mind that Medicare is not accepted outside the U.S., and even within the U.S., you want to be sure your health insurance has you covered in states outside your own.

Look for discounts and rewards. Seniors have a unique advantage in that costs for some activities are reduced. Even though the discounts may be modest, every dollar helps stretch your travel budget. Check to see what discounted options are available through clubs like AAA or AARP. Also pursue smart credit card strategies that help you earn rewards like free travel or cash back on your purchases.

If travel is in your plans when you leave the workforce, it’s key to go beyond dreaming and do some significant preparation in advance. Use the time you have now to set specific goals and build savings that will help make your dreams a reality.

Trisha Schaar, CRPC, CLTC, APMA, is a financial adviser with Echelon Wealth Partners, a private wealth advisory practice of Ameriprise Financial Services, LLC in Marshall, MN. She specializes in fee-based financial planning and asset management strategies and has been in practice for 8 years. To contact her, ameripriseadvisors.com/trisha.m.schaar, (507) 532-2210, 100 West College Drive, Suite 103, Marshall, MN