Memorial Day weekend is often viewed as the unofficial start of summer. With warm, sunlit evenings and the end of school in sight, this time of year is marked by social gatherings and vacation planning. Although U.S.-based Disney theme parks remain closed indefinitely, Shanghai’s Disneyland reopened May 11 – giving us a glimmer of hope that recreational travel with people we love will be a possibility again soon.
Saving for family vacations and trips with your guys or gals should be a part of your household budget. Splurge-worthy anniversary trips or milestone birthdays should be a part of your financial plan. Why? Because there is great value in spending some of your financial resources to build life experience assets.
‘Experience assets’ are memories accumulated by things you do, learn, or observe. They’re the encounters you’ll tell stories about later. And they’re important. Not simply because they allow us to relax or explore – but also because they help us connect with others and ourselves, they challenge us, and they allow us to discover new cultures, communities, and perspectives. Although the trip you dream of can’t happen tomorrow, you can begin saving today. So, talk with your financial advisor, and let’s start planning your next adventure.