What’s the ACTUAL cost of that summer vacation?
Remember when summer vacation meant good times all day every day with your friends in the backyard running under the sprinkler, weekend trips to the lake, hanging out at the mall and family trips to the local fair?
Things sure have changed. These days parents are giving their children bigger, more expensive summer vacation experiences. Luxury cruises, 5 Star all-inclusive beach vacations and full on Disney experiences and money to cover it seems to be no object.
Without realizing it people are sacrificing the quality of their future retirement growth to take their 5-year-old on a trip they’ll only remember by looking at pictures! Is that vacation really worth it to lose 24% of future growth towards retirement? 24%!
Here’s what I mean…
Over time, that $10,000 vacation makes a huge difference and the loss towards your retirement would be approximately $34,000.
Now, what if you took a vacation every year? What if you did that 2 or 3 times a year?
Don’t get me wrong I love to travel especially with my children – but there are many other wonderful family experiences to enjoy with our children that are local, cost-efficient and fun.
Remember when your mom gave you a buck for ice cream and you thought you won the lottery? Here’s the thing: kids still get excited when they hear the sound of the ice cream truck coming around the corner.
They don’t really care if we spend $5.00 for an ultimate banana split at DQ or $10,000 for a cruise. All our children truly want is to spend quality time with us and if there’s ice cream involved – bonus!
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