Planning Summer Travel on a Budget

Presented by Marc Aarons

I hope this email finds you well today. I know many of my friends and family have found 2023 to be very busy and very costly, given inflation’s compounding effect over the last several years.

In fact, I’ve talked with a few people who hadn’t planned a summer vacation because of a lack of time or money–but who have now decided they, quite simply, need a break.

With those recent talks in mind, I thought I would reach out with some vacation budgeting tips in case you or someone you know is in a similar boat:

1. Set a budget and stick to it. Determine how much you can afford to spend on your vacation, and make sure to include all expenses, from transportation to activities.
2. Travel during the off-season. Off-season travel can save you a lot of money as hotel prices and airfare tend to be lower. If you’re willing to swim upstream this summer, you can find inspiration for your next off-season destination spot here.
3. Use travel points and rewards. Make use of your credit card rewards, loyalty programs, and travel points to save money on flights, hotels, and activities. If you’re not currently earning travel rewards, check out Bankrate’s guidance on choosing a travel credit card.
4. Look for complimentary meals. Eating out every meal can quickly add up, so when planning, look for hotels that include breakfast, afternoon hors d’oeuvres, or a complimentary happy hour. Some hotels also offer packages that include an on-site restaurant credit.
5. Be flexible with dates. To maximize your savings, the Thrifty Traveler recommends letting flight prices determine your travel dates if you have the flexibility.

Remember, the goal is to create memories and have fun, not break the bank. Hopefully, these tips will help you do just that!

That said, I hope you and your family have a wonderful summer. Don’t hesitate to reach out if I can be of assistance. As always, I’m here to answer questions and share insights.

Marc Aarons may be reached at (714) 887-8000 or marc@ocmoneymanagers.com

www.ocmoneymanagers.com

This communication is from Money Managers, Inc. is a Securities and Exchange Commission registered investment advisor.  Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any securities, and past performance is not indicative of future results.  Investments involve risk and are not guaranteed.  Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed here.

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Certain financial & lifestyle choices may lead you toward a better future. 

Provided by Marc Aarons

 Some retirees succeed at realizing the life they want; others don’t. Fate aside, it isn’t merely a matter of investment decisions that makes the difference. There are certain dos and don’ts – some less apparent than others – that tend to encourage retirement happiness and comfort.

Retire financially literate. Some retirees don’t know how much they don’t know. They end their careers with inadequate financial knowledge, and yet, feel they can prepare for retirement on their own. They mistake creating a retirement income strategy with the whole of preparing for retirement, and gloss over longevity risk, risks to their estate, and potential health care expenses. The more you know, the more your retirement readiness improves.

A goal to retire debt free – or close to debt free?  Even if your retirement savings are substantial, you may want to consider reviewing your overall debt situation.¹

Retire with purpose. There’s a difference between retiring and quitting. Some people can’t wait to quit their job at 62 or 65.  If only they could escape and just relax and do nothing for a few years – wouldn’t that be a nice reward? Relaxation can lead to inertia, however – and inertia can lead to restlessness, even depression. You want to retire to a dream, not away from a problem.

The bottom line? Retirees who know what they want to do – and go out and do it – are positively contributing to their mental health and possibly their physical health as well. If they do something that is not only vital to them, but important to others, their community can benefit as well.

Retire healthy. Smoking, drinking, overeating, a dearth of physical activity – all these can take a toll on your capacity to live life fully and enjoy retirement. It is never too late to change habits that may lead to poor health.

Retire where you feel at home. It could be where you live now; it could be a nearby place where the scenery and people are uplifting. If you find yourself lonely in retirement, then look for ways to connect with people who share your experiences, interests, and passions; those who encourage you and welcome you. This social interaction is one of the great, intangible retirement benefits.

Marc Aarons may be reached at (714) 887-8000 or marc@ocmoneymanagers.com

   ^{MMI Disclosure This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment}

^{This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.}

^Citations

1. ^{CNBC.com, December 2, 2020}

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