The true value of travel

So much has changed so quickly in the past few months. Working from home and homeschooling were two of the most significant changes early on with the greatest impact on daily life for many of us.

Yet as the weeks go by, I’ve been thinking more about another change that has impacted our society: the lack of travel.

It would be easy to dismiss this as a frivolous concern. After all, travel is a luxury, isn’t it? Compared with the life and death challenges and economic hardship that many are facing currently, it is absolutely much lower on the list of priorities.

Nonetheless, with travel currently off the table, it is causing me to reflect and ask the question: what’s the value of travel? why do I miss it so much?

Creating memorable experiences

I had an opportunity to discuss this recently with Greg Sacks, founder of Trufflepig Travel and a good friend of mine. Trufflepig designs bespoke trips for families and small groups. While much of the travel industry has focused in recent years on filling planes and destinations with as many people as possible, Greg’s company is at the opposite end of the spectrum.

For Greg, creating an unforgettable travel experience involves two key components: customization and expertise. He starts by gathering all the members of a family around a table for a conversation to learn about them – their interests, their preferences, how they interact with one another. These insights lay the foundation for customization, as the Trufflepig team can use this information to design something unique and personal.

Expertise is the other half of the equation. Years of experience, local connections and insider knowledge allow Greg to show his clients a world that most people never get to see.

It’s the same with financial planning. To develop strategies and achieve outcomes that are truly aligned with my clients’ needs and values, I start with meaningful conversations and dig below the surface to really understand what makes them tick. With a clear understanding of their desired destination, I then use my expertise to help them reach it.

Sharing values across generations

Another area of overlap that Greg and I identified was the importance of both travel and wealth having meaning.

Travel has the ability to expand your mindset. A window suspended in time. Being in a new environment requires vulnerability as your surroundings are unfamiliar. By embracing the experience with an open mind, you can see the real world, develop community awareness and build empathy.

This type of travel is all the more meaningful when it is shared by loved ones. It becomes an opportunity to create shared memories and pass on values from one generation to the next. Meaningful travel is about quality, not quantity, and knowing that you have lit a spark that can positively influence the trajectory of your child’s life.

Working with my clients, I see similar thinking around wealth. It’s not really about the new home or the investment portfolio. Instead, it’s often about how wealth can be used to create opportunities and changes lives in ways that will be felt in years and generations to come.

Uncovering the true value of travel

The value of travel won’t show up as an asset on your personal balance sheet. There are no numbers to tally up on a financial statement. Like so many of the most important things in life, the value of travel is intangible. But that doesn’t mean you won’t see it.

You’ll see its value clearly reflected in the dreams, beliefs and open-mindedness of your children. You’ll see it in the sense of discovery and their attitudes towards people and cultures different from their own. In short, you’ll see the value of travel in the family legacy that you build.

I don’t know when this pandemic will end, and I don’t know what the future of travel will look like. What I do know, however, is that travel helps us open our hearts and minds. I hope that someday soon, we will be able to embrace the joy of travel once more.