Proximity to Transporation
The daily commute to the office is no longer an issue in retirement. However, the commute to the grocery store, restaurant, entertainment, and airport become more important. This is why many retirees choose urban living where they can walk or take an uber to most places. Even when living in a remote area, where a car or public transportation is needed, it's still important to be close to the places that you visit most frequently. This saves time and money, and it reduces the hazards of driving.
One solution to the local transportation issue is to live somewhere where you don't need a car. On October 30, 2024, 55Places.com published an article listing 5 Places to Retire if You Don't Want a Car. The cities listed include Austin, TX, Boulder, CO, Chapel Hill, NC, Portland, OR, and Philadelphia, PA.
Finally, there's the situation where the retiree maintains multiple residences and needs to travel between them. Here's another case where the proximity to airports, train terminals, etc. are very important. Even when you're close to an airport, are there direct flights to your destination, or do you need to travel between various airline hubs with multiple flights?
Automobile Transportation (Gas or Electric)
Most retirees continue to own at least one vehicle. With high initial purchase, insurance, maintenance, and fuel costs, this could consume a substantial portion of a retiree's budget. There are a lot of factors to consider in determining what type of vehicle to own. One factor is gas or electric powered.
There are basically four types of automobile propulsion systems: Gasolene, Hybrid, Plug-In Hybrid, and Electric (EV). The most economical and convenient type of car for a retiree depends on distance traveled, proximity to EV charging stations, and their commitment to reducing exhaust gas emissions. If they travel short distances and have a home charging station, an EV may be the right choice. Otherwise, I'd stick to the gasolene-powered car.
Each type of car has its advantages and disadvantages.
- Gasolene Engine Vehicles — Use readily available gasolene and travel long distances on a single tank of fuel.
- Hybrid Engine Vehicles — Energy-efficient, use standard gasolene, and combine the power of two engines for improved power and acceleration.
- Plug-In Hybrid Vehicles — Flexibility of running on electric or gas. The weight and complexity lead to higher repair costs.
- Electric Vehicles — Energy efficient, less pollution, and may save money after initial high purchase price.
Electric Vehicle Concerns
I drive a hybrid automobile. It is more efficient and environmentally friendly than a standard gasolene powered car, but it retains all the benefits.
Here's 20 reasons why I don't own an All-Electric Vehicle (EV):
- High Electric Vehicle Purchase Price – New EV’s cost $50,000 or more ($10,000 more than gas-powered vehicles). This is despite lucrative federal “green subsidies” bankrolled by taxpayers.
- EVs Depreciate Fast – They depreciate much faster than traditional gas-powered vehicles. This is partly due to the short lifespan of the high-voltage battery and the cost to replace it.
- Replacement Batteries are Costly – Replacement batteries can cost from $10,000 to $50,000. A battery replacement could double the price of a used car.
- Tires Wear Out Quicker – The tires wear out quicker because EVs are heavier. They’re low-rolling resistance and run-flat tires. They can cost up to $400 a tire, and they wear out about every 10,000 miles.
- Insurance Costs More – Insurance is twice as much or close to twice as much as a regular gasoline-powered car.
- They have More Maintenance Issues – Consumer Reports’ 2023 annual report found that EV car owners have 80% more problems than gas powered vehicle owners. Researchers also discovered that plug-in hybrids problems are up 146%. Problems occur with the EV drive system motors, EV charging systems, and EV batteries.
- Charging Can Be as Expensive as Gas – For those using Level 2 charging stations in their homes, costs are a relatively cheap at 13 cents per kilowatt-hour. But costs jump when using public services where their fast-charge rates come closer to 50 cents per kilowatt-hour.
- EVs Take too Long to Charge – A full charge at 240-volt Level 2 charging stations (e.g., home chargers) can take 8 hours or longer, and even fast-charge stations take 30 minutes. It's about 5 to 10 times longer than a gas pump which can push 4 to 5 gallons into a tank per minute.
- Charging Stations are Hard to Find – Despite over $7.0 billion in government subsidies, the number of EV charging stations are a small fraction of the number of gas stations. Then when found, many of the stations don't work.
- Reduced Range between Fuel Stops – EVs will travel 110 to 300 miles on a single charge which is less than most gasolene powered vehicles.
- Home Charging Units are Expensive – Owners must shell out between $700 and $2,000 to install a Level 2 home charging unit. This could make the first year’s savings for not buying gasoline a wash. Worse, if you want to install a Level 3 charger in your home, you’ll be hit with costs of up to $50,000 or more including upgrading the electrical system in your house to power the charger.
- There is Insufficient Electric Generating Capacity – Some states already have brownouts at peak electricity usage periods including summer afternoons when air conditioners are being heavily used. Generating additional electricity to power EVs probably requires burning more fossil fuels (petroleum, coal, and natural gas) which pollute the atmosphere.
- They Cause More Serious Accidents – Due to the heavy weight of an EV’s batteries, which average about 1,000 pounds, collisions among EVs tend to be more serious and cause greater damage.
- Electric Vehicle Battery Fires – An increasing number of EV fires are being reported due to EV batteries catching fire and exploding. Once a battery fire starts an EV becomes engulfed in flames rapidly destroying the car. EV battery fires have been known to require up to four tankers, over 10 rescue organizations and 36,000 of gallons of water to put out. A normal fire in an internal-combustion car only takes 500 gallons. The smoke from these burning electric cars produces Hydrogen Fluoride and Hydrogen Chloride gases – both of which are toxic to breath and requires firefighters to wear breathing apparatus.
- Car Traps Drivers – A power failure make the door locks inoperable trapping the driver inside. Although there is a mechanism to manually unlock the doors, it may be difficult to find in an emergency such as a car fire.
- EV Batteries Require Lithium – The price for lithium, a key material for electric car batteries, is skyrocketing having increased 250% over the past 12 months. China dominates the global production of lithium-ion batteries and their precursor materials, especially graphite. This increases imports and our dependence on China.
- EVs Require 3 to 5 times More Copper than Gasoline-powered Cars – The pell-mell push to electrify the global automotive fleet is creating a demand that current copper production simply can’t keep up with. The metal is so important to electrical production that even at the current rate of demand, copper will need to be produced in huge amounts. Just to meet business-as-usual trends, 115 percent more copper must be mined in the next 30 years.
- EV Tire Wear Causes Pollution – A British-based independent emissions testing firm found that particulate matter emissions from EV tires are 1,850 times greater under normal driving conditions than from a tailpipe of a gas-powered car. Particulate emissions are microscopic solids or liquid droplets that are so small that they can be inhaled and cause serious health problems. The particles are also the main cause of reduced visibility (haze) in parts of the United States, including many of our treasured national parks and wilderness areas.
- Green (EV) Cars Pollute More Than Gas-Powered Cars – EVs cause pollution from tires, electric generation, and lithium and copper mining. Copper mining is largely ‘open pit mining’ (as opposed to underground mining) which is extremely destructive to the environment and landscape. Most lithium comes from China’s high-pollution production. Conservationists and American Indians are asking a federal court to block development of the Nevada lithium mine, they say might poison water supplies and soil and pollute nesting grounds for birds.
- Can't be Stored for Long Periods – The high-voltage battery in an EV cannot be connected to a trickle-charger for long storage periods. Extended storage of an EV can drain the battery down to damaging levels. Lithium batteries do not handle being completely discharged very well.
Travel by Air
Being close (within an hour's drive) to an airport is not only important for a retiree's travel, but it results in more visits from friends and relatives, especially if you live in a vacation-like area.
Considering all factors (gas, hotels, tolls, etc.), airlines are generally less expense for long distance travel. If a car is needed at your destination, rental cars (for short stays) and auto-transport services (for longer stays) are readily available.
When making airline reservations, consider the following:
Booking with Reward Miles
If you have multiple credit cards, it is important to have one credit card that provides rewards redeemable for airline travel. For the best savings, airline miles should be used for travel whenever possible.
Obtaining a credit card associated with an airline loyalty program frequently provides thousands of bonus miles after initial card purchases. These can be redeemed for several airline round trips. Afterwards, one or two airline miles are earned for every dollar spent. Other benefits could include priority boarding, free checked bag, and discounted on-board food and beverages.
Searching Flights using Third-Party Websites
If you need to pay for a flight with cash instead of miles, it’s smart to compare fares with multiple airlines before booking. But since checking each airline’s website separately is time-consuming, it can be helpful to use a third-party website that compares dozens of airlines and flights at once. Numerous third-party websites are available for researching and booking cheaper airline seats including Expedia, Priceline, Kayak, Travelocity, Cheap Flights, Google Flights, Kiwi, Hopper, etc.
Widening Scope of Search by Date & Location
Check alternate dates whenever you have the flexibility to do so. In some cases, moving departure and/or arrival dates by a few days or weeks could net significant savings. If you live in an area where alternate airports are within a reasonable driving distance, you may be able to save a lot and/or obtain nonstop flights by seeking an alternative airport.
Determining When to Book Flights & When to Travel
On average, flights booked on Monday, Tuesday or Wednesday are 12% cheaper than those booked on Friday or Saturday. Tuesday is generally thought to be the best day for booking a flight; however, Expedia recently found that Sunday was the best day. They said that Travelers who book on Sunday save an average of 13% compared to those who book on Fridays (the most expensive day).
Regarding how early to book, it is widely recommended that people book domestic flights between one and three months before departure and international flights between four and five months before departure. Prices can increase by hundreds in the final weeks before departure. A recent report showed that travelers who purchase their domestic flight 28 days in advance paid 24% less on average than last-minute bookings.
Besides the day you book impacting costs, it’s the day you fly out that matters to score cheap airfare. Flying out in the middle of the week instead of the weekend can save travelers an average of 18% on domestic summer airfare. For international trips, the savings can be even more – flying to Europe last summer on a Tuesday or Wednesday saved $435 per ticket.
Your strategy when booking with miles should be different than when you’re booking with cash. Since flights often have limited award availability, it’s generally recommended to book award seats as early as possible. Most airlines open their award ticket windows about a year out from a flight’s departure.
Automobile Transport (Car Shipping)
For those retirees who split their time between two or more residences, shipping a car is becoming more popular. It saves days of driving and hotel stays for those who travel hundreds or thousands of miles between locations. The alternative of storing a car for months while away has disadvantages, especially when covered storage is unavailable or for electric cars with their high-voltage batteries.
There are various factors to consider when determining what auto transport service to use:
- Price
- Customer service & reputation
- Stand-alone company or auto transport broker?
- Pick-up & drop-off convenience
- Schedule flexibility
- Insurance coverage
I highly recommend dealing with an individual stand-alone company instead of a third-party broker who earns a commission by referring you to another firm. Your price and service may suffer when dealing with an auto transport broker.
Consider the following when shipping your car:
- Most companies allow you to store items for transport within your vehicle; however, the stored items cannot exceed a particular weight (generally 100 pounds).
- Items in your car are generally not covered under the transport company's insurance policy, but are probably covered in your automobile insurance policy.
- Fuel level should be low (approximately 1/4 tank of fuel).
- Any EZ Passes or Sun Passes should be removed from the windshield to avoid charges.
- You should not pack any medication or medical devices in your vehicle pertinent to your health.
Amtrak Auto Train
If you are traveling from the Northeastern United States to Florida, Amtrak's Auto Train may be a good option. A major disadvantage is that you'll have to drive both to the originating train station in Virginia (if traveling south) and then from the end station near Orlando to your final Florida destination. Finally, there is the long wait to board the train and possibly a long wait for your car to be unloaded at the trip's end.
The train saves you from bumper-to-bumper traffic on I-95, gas or electric fueling, possible in-route hotel stays, and wear and tear on your car's engine. Your next vacation shouldn’t come with the baggage of a road trip. The Auto Train will take you and your vehicle nonstop between Lorton, Virginia near Washington, DC and Sanford, Florida near Orlando. You leave in the afternoon and arrive the next morning.
Your vehicle can be packed with all the trip essentials and driven out of the station upon arrival. While onboard, you can settle in with a good book, stream a movie on your tablet, get a good night's sleep, or enjoy the ever-changing views out the window. Passengers with premium accommodations get an evening dinner and breakfast the next morning.
Whether you’re heading south for the sunshine, beaches and theme parks or exploring the many destinations of the Northeast, the Auto Train can be the perfect way to get you there. And with fares as low as $95 plus the cost of your vehicle, a train may be your best option.
There are four main types of accommodations: coach, roomette, bedroom, and family bedroom. The roomette and bedroom accommodate 2 adults, and the family bedroom accommodates 2 adults and 2 children. The bedroom has twice the space of a roomette and an in-room restroom and shower.