What Is Travel Portfolio Planning?
Published Monday, April 25th 2022While I enjoy planning individual vacations, I also love creating travel portfolios for the future. I work to design a 5-year travel plan which allows you the have clarity and control over how you travel.
WHO NEEDS TRAVEL PORTFOLIO PLANNING?
It is not for everyone. Travel portfolio planning is for avid travelers or those who aspire to make travel a more important part of their life. It’s also for someone who is in or about to enter a transitory period in their life. Here are a few examples:
Families
You only have a finite number of years to explore the world with your children. Life gets busy, something comes up, and your vacation gets put off. Travel portfolio planning allows you to block the time in advance so it will actually happen. We consider which vacations you want as a couple and what you want your children to experience with you before they are out of the house.
Retirees
Most people have a financial plan for retirement. But do you have a plan on how to enjoy the years for which you've worked so hard? Travel is one of the top things that recent retirees and those looking ahead to retirement typically have on the list. Both your availability and your income can shift dramatically upon retirement. Travel portfolio planning ensures you have adequate funds in retirement for how you want to travel.
Anticipated changes in mobility or health also play a role in longer-term travel planning. You may want to experience specific vacations, like climbing Machu Picchu, earlier in retirement and choose trips that you’re okay holding off until later.
Professionals
Travel portfolio planning is beneficial if you undergo a substantial professional change. An example is a client who will become a partner at a law firm. The financial picture changes, but scheduling also becomes much more difficult. The travel portfolio plans your vacations a year or more in advance so you can stake a claim and ensure you can be out of the office on those dates.
Wellness Focus
It is also valuable for clients concerned about mental and physical well-being. A travel portfolio ensures you have regularly-scheduled time away from the stress of work and the demands of your day-to-day life so you can recalibrate.
HOW DOES TRAVEL PORTFOLIO PLANNING WORK?
Together, we choose and prioritize your vacations based on destinations, who you will travel with, schedule availability, and milestone celebrations like weddings, anniversaries, graduations, and special birthdays.
I determine the best season for each destination and planned experiences. I combine countries to save on flight costs and coordinate many other logistics. Then I design a 5-year travel portfolio for you based on all your travel preferences.
You will receive a beautiful customized presentation. The portfolio forecasts your destinations to visit over the next five years, the timing of each vacation, travelers on each trip, and the estimated cost of each so you can plan for the travel investment. We also revisit the portfolio annually for any significant changes.
Share your travel portfolio with your Financial Advisor to incorporate it into your overall financial plan and ensure you can make your travel dreams a reality.
If you think Travel Portfolio Planning might be right for you, we are happy to answer any questions.
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