Oh the Places You’ll Go!
by Robert DeVries
Where will the freedom of time and money take you in retirement?
When we meet with clients and talk about financial goals, one that often comes up is travel. Many have a plan to travel more once they stop working, and it seems everyone has a dream destination to visit once they have the money and time to go.
Would you like to travel more than you do? Do you put off travel to save for other goals? Do you need to wait? What if that special trip is physically demanding, like hiking the Grand Canyon or Maccu Pichu, where being younger and healthier might enhance the experience? Even if that’s not the case, you might well be ahead of pace for what is needed to save for your financial goals, making increased travel now more feasible.
Working with a financial planner like the WealthCoaches at FirstWave Financial can help you prioritize your financial goals, such as saving for retirement, vacation home, travel, etc…We listen to our clients about the importance they place on each goal and help them determine how much is needed to save for each goal, thereby giving them the peace of mind that taking a special trip now likely won’t harm their savings goals.
Another item to address is the change in mindset that happens when you move from the saving mindset to the spending mindset. It takes some adjustment to get used to the ‘new normal’ of spending after 30+ years of saving. Planning for expenses such as luxury accommodations or first class tickets might feel extravagant, but with the confidence that enough assets have been accumulated to pay for these and other expenses, your special trip will be that much more enjoyable.
Now that you’ve got a plan of action on how to save for travel and other goals, what is the first place on your bucket list?
Best Places to Go
According to Conde’ Nast Traveler, here are the top 19 travel destinations for 2019:
– Instanbul and Bodrum, Turkey
– Siargao, The Philippines
– Berlin, Germany
– Cabo San Lucas, Mexico
– Whitsunday Islands, Australia
– Palermo, Italy
– Chengdu, China
– The Northeast Passage (by sea)
United States & Territories
– Grand Canyon, Arizona
– Puerto Rico
– Houston, Texas
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You should not assume that any discussion or information contained in this publication serves as the receipt of, or as a substitute for, personalized investment advice from FirstWave Financial. A copy of the FirstWave’s current written disclosure statement discussing our advisory services and fees is available upon request.