Guilt-Free Vacation Planning: Prioritize Your Financial Goals | Shawn DaCruz

Guilt-Free Vacation Planning: Prioritize Your Financial Goals

By: Shawn DaCruz

Taking a vacation is essential for recharging, but it's crucial to prioritize your financial goals before you start packing your bags. While everyone enjoys traveling, planning ahead of time is crucial to ensure you can afford all of the costs that come with your trip. Spontaneous vacations can be detrimental to your savings plans, so remember to pay yourself first to ensure you're saving for what matters most. If early retirement is your top priority, make sure you're maxing out your retirement accounts or investing the necessary amount each month. Therefore, if you save correctly, you can go on your dream vacation without any regret.

Here’s how you can vacation guilt-free:

1. Rank Your Savings Goals: Identify what’s most important and develop a long-term savings plan for your trip.
2. Find Your Specific Number: Calculate the exact amount you need to save and invest each month for your goals. Knowing this number helps you understand why you're setting aside that specific amount and provides psychological motivation.
3. Create a Vacation Fund: After meeting your primary savings goals, allocate what's left to a separate vacation fund.
4. Save Automatically: Set up automatic transfers to your investment accounts to ensure you're consistently saving.
5. Plan Within Budget: Use the money in your vacation fund to plan a trip that fits your budget. Remember to factor in surcharges and other additional costs.

By focusing on your financial goals first and saving for your trip over time, you can enjoy your vacation while knowing you’re not compromising your future. This way, you strike a balance between enjoying today and securing tomorrow. We all deserve our dream vacation, so contact your advisor to ensure you can enjoy it guilt-free.

Gerber Kawasaki Wealth & Investment Management is an investment advisor located in California. Gerber Kawasaki Wealth & Investment Management is registered with the Securities and Exchange Commission (SEC). Registration of an investment advisor does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Gerber Kawasaki only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of Gerber Kawasaki Wealth & Investment Management 's current written disclosure brochure filed with the SEC which discusses, among other things, Gerber Kawasaki Wealth & Investment Management's business practices, services and fees, is available through the SEC's website at: https://www.adviserinfo.sec.gov .?

Shawn DaCruz is a Financial Advisor of Santa Monica, California-based Gerber Kawasaki Inc., an SEC-registered investment firm with approximately ~$2.3B billion in assets under management as of 09/30/23. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which course of action may be appropriate for you, consult your financial advisor. No strategy assures success or protects against loss. Readers shouldn't buy any investment without doing their research to determine if the investments are suitable for their situation. “All investments involve risk and one should consult a financial advisor before making any investments. Past performance is not indicative of future results."?