Vacations can cost more than expected, especially if you have a large family or an exotic destination in mind. Several of my clients love to treat their entire extended families to a variety of family trips.

Some of my best memories are vacationing with my family. I’m sure yours are too. That’s why I advocate for every family to set aside time and money to vacation together. But the key is planning.

Big price tag purchases can change your tax bracket, hurt your investment strategy, or even postpone your retirement date.

If you want to plan for an elaborate family trip without wrecking your retirement plan, here are a few tips to get you started.

1. Start planning & saving early.

I recommend estimating the total cost of the trip, and then add a 10% cushion. This should cover possible inflation or unexpected costs.

Next, start a savings schedule. Open a separate account and contribute to it every month. Little by little you’ll reach your goal and be able to track your progress.

Planning early can also provide opportunities for early booking specials and discounts when reserved a year or more in advance.

2. Set expectations and communicated them.

Another, equally important aspect of logistical planning is setting expectations with those who are going.

If you are going to pay for the trip, it’s even more important to communicate your expectations. Who is going? How will you deal with boy/girlfriends? What activities or meals should the group participate in? Will there be a family photo with coordinating outfits?

It’s also important to be clear about costs. There are both “upfront” costs such as flights and hotels, but also “on the ground” costs like meals and excursions.

These might seem like small details, but I promise you, that if you’ve saved for months for a trip, you will have expectations (spoken or unspoken) about what the trip will be like. To avoid any hurt feels or frustrations, sit down with everyone who’s going and figure out what this vacation should look like.

3. Set yourself up for success.

Vacation is all about making memories and spending time with those we love and cherish most.

But don’t let it hurt your retirement. Start planning and saving early, set proper expectations, and check with your trusted Financial Advisor to make sure your retirement is still on track.

With these few simple tips, your next family vacation can be both fun and financially feasible!

Start Planning!

The post How to Plan a Family Vacation without Hurting Your Retirement appeared first on AWM.

Businesses have closed, people have lost jobs, and others are required to take unpaid time off.

How on earth can you afford a fun summer for the family? Here are our best staycation ideas:

1. Pitch a tent.

Not everyone can make it to a national park, but don’t let that stop you from camping! Pitch a tent in your backyard and use a portable grill or fire pit to cook up some hot dogs and s’ mores. Don’t forget your favorite singalongs and/or ghost stories!

If you don’t have camping equipment, someone you know is sure to let you borrow what you need.

2. Be a local tourist.

Vacation and hometown don’t usually end up in the same sentence. But, have you ever considered exploring your hometown like a tourist?

Book a night or two in a local hotel and pretend you’re visiting from out of town. Maybe your town has a local museum or festival. Take a guided city tour and learn something new about your town. You could also see a matinee movie or try the local cuisine you’ve been eyeing.

3. Take a day trip.

In the Pacific Northwest, most scenic destinations are within a few minutes or hours. Pack a picnic and visit your beach, the mountains, or even a small town you’ve never been to before.

4. DIY your favorite excursion

Who says you have to pay a professional to enjoy your favorite activities?

Set up a DIY spa day or get the whole family together to make your favorite five-star dinner. Be creative or looks up new ideas on the internet.

5. Volunteer.

Why not use some of your downtime to make a difference in your community?

There are countless local volunteer opportunities. From tidying up a local park, preparing and/or serving meals at a shelter, to working on a house with Habitat for Humanity, among others.

What might seem like work at first could be the most gratifying thing to do during your staycation.

With a little creativity, you can fill your summer with fun, local activities the whole family will love. Don’t let finances get in the way of making memories with your loved ones.

The post Do We Stay or Do We Go? appeared first on AWM.

For many, traveling is one of the most memorable, enjoyable and educational experiences in their lifetime. As you plan your first trip abroad, however, you might not know where to start. Here are a few tips that beginners and even experts will benefit from!

Tip #1: Make Copies of Your Passport

I can’t stress this one enough. Make copies of your passport (and other important documents, like visas). Seriously, like 3. Leave one at home with someone your trust and pack the other two in different spots throughout your luggage, away from the originals. You should even email a copy to yourself.

You can even add a copy to a secure, online portal if you have one.  Our clients do.

Clients of Ambassador Wealth Management who access their personal MyWealth portal can enjoy this extra level of security.  Your personal online portal has secure storage capabilities that are accessible anywhere in the world from a computer.

Few worse things can happen than being stuck abroad without your passport.

Tip #2: Don’t Forget a Power Adapter

We all need cords to charge our phones, watches, and even toothbrushes. Don’t forget that these charges only work in the United States.

Many countries, even ones on the same continent, use their own type of power outlet. For example, Italy uses round-pronged plugs while the UK uses triangular ones. Be sure to research which adapter you will need for the country(s) you are visiting.

Tip #3: Notify Your Credit Card Company  

Let your credit card company know you are leaving the country, where you are going, and how long you plan to be gone. Otherwise, your cards might be declined when you try to use them.

Also, check for foreign fees. Cards that charge these fees can cost upwards of 3% per international transaction. That adds up quick.

You don’t want to be stuck with no spending money or huge fees you didn’t budget for.

Tip #4: Bring the Right Shoes

Sore feet and blisters can ruin your trip overseas (or anywhere, let’s be honest) very quickly. It’s okay to bring your fancy shoes for special dinners, but make sure you pack a comfortable pair of walking shoes.

Also, consider the climate you will be in. You don’t want sandals for cold and rainy weather, but you might prefer them for warmer temperatures.

Tip #5: Check with Your Phone Carrier  

You should find out if your wireless carrier works where you’re going. Learn what’s included in your current plan and what fees you could be charged.

If your carrier is unavailable where you’re going, apps like WhatsApp make it easy to send messages and make calls from Wi-Fi for free. You could also buy a pre-paid phone or purchase a local sim card if your phone is unlocked.

Tip #6: Learn Your Destinations’ Cultural Laws

Each culture has its own social standards for public conduct. Spend some time reading up on the social laws where you are traveling.

Certain parts of Asia have modesty requirements. You should be cautious of PDA (“Public Displays of Affection”) in the Middle East. If you are looking for it, these social cues are easy to pick up on just by watching the locals.

Remember, you are visiting their culture. Be as respectful as you can.

Tip #7: Plan for Jet Lag

It’s smart to tweak your habits about a week before you travel. For example, if you are traveling east, go to bed a little earlier each night leading up to your trip. If you are headed west, try to push your meals out a little later than normal. And so on…

It can take your body some time to adjust to a new time zone, so start early and your trip will be way more enjoyable!

Tip #8: Don’t Panic

Things are going to go wrong, but that doesn’t mean your trip is ruined. Keep a level head and enjoy each experience, good and bad.  Remember, you are building memories and learning new things!

The post 8 Tips for Your First Trip Abroad appeared first on AWM.

Here are five simple tips that are sure to make you the master traveler you’ve always wanted to be.

1. Take the Window Seat… In Coach.

   While the aisle has more access to the bathroom, you’ll get bumped by the drink cart and other people walking by. Not to mention you’re in the way of your fellow seatmates when they need a turn in the loo.

   First class might be your traveling goal, but save some money and take a seat at the back of the plane. It’s really not that bad. Wear comfy clothes and use your neck pillow backwards. By creating stability for your neck, turbulence won’t even wake you.

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2. Keep Up Daily Routines. 

   The easiest way to adjust to any new setting is to keep as much of your daily routine as possible. For all the fitness fanatics, look for hotels with 24-hour access to a gym.

   Keep up your eating habits. One of these biggest weaknesses travelers face is fast food. Pay a little extra and lose some convenience for a wholesome meal. It’s worth it every time.

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3. Leave Your Book at Home. 

   I’m not saying you shouldn’t enjoy a good read on your trip. But, if you’ve got a Kindle or a tablet, you can free up some valuable space and weight by leaving the paper at home.

   Electronic options are slim, lightweight, and give you access to more reading materials than anyone could hope for on their vacation.

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4. Let Your Credit Card Deal Hunt for You. 

   If you’re going to pay for travel, you might as well benefit from it. There are countless options for credit cards that earn travel rewards. You can save on air tickets, hotels, and even entertainment.

   It’s not hard to pick a good card with travel benefits.

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5. Don’t Buy Travel-Size Anything.

   Manufacturing companies are smart. They know travelers will pay more for a convenient, travel-size product. Save a few bucks (or hundreds) by refilling those little tubes with your own shampoo and mouthwash.

   If you’re staying in a hotel, don’t forget that most properties provide the basics: shampoo, conditioner, soap, and lotion. You can also ask your receptionist for things like deodorant, toothpaste, shaving products, and even sewing kits. Don’t pack the free stuff you can get at your hotel.

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Think smart when planning your next vacation. Whatever your reason for traveling might be, you can apply these simple tips to tackle it like a pro.

The post 5 Tips that Can Make You a Master Traveler appeared first on AWM.

1. By Car:East Coast of Ireland: The Wild Atlantic Way is the longest coastal route in the world spanning 1,553 miles (2500 km). Each day is packed with remarkable views of enormous sea cliffs, amazing beaches, and unique culture. This road trip is packed with a huge punch for such a short distance.

1. • Duration: 2-4 weeks
   • Highlights: Cliffs of Moher, Skellig Michael, Mizen Head, Poulnabrone Dolmen, Slea Head Drive, Aran Islands
     

     Want more about this Road Trip?
     Tips for driving the Wild Atlantic Way
     Where to stay on the Wild Atlantic Way

2. By Ship:
   Norway: Sitting right on the coast, this beautiful country is known for its glorious fjords. For example, the UNESCO World Heritage Site Geiranger Fjord where you can get a close up of the famous Seven Sisters waterfall. Norway is also known to be one of the most expensive travel destinations in the world. Because you are able to eat all your meals aboard the ship (included in the price of your passage), you will have that much more money to spend on various excursions and souvenirs.

   Ready to check it out?
   9 reasons to cruise the Norwegian Fjords
   Northern Europe Cruise Itineraries

3. By Train:
   Trans-Siberian Railway: This legendary route, iconic to Russian culture, will take you through eight time zones to connect Russia’s capital with a port on the Pacific Ocean. Onboard this extended train ride, poor mingle with rich, young with old, and foreigners with locals. Social barriers slowly disappear as passengers share this unique experience. You can book a private car to enjoy the trip with extra comfort or schedule excursions suited to your tastes such as trekking, scuba diving, or city tours.S tart to finish, this trip is sure to change your life.
   • Route: Moscow to Vladivostok, Russia
   • Duration: 19 days

   Need more convincing?
   All you need to know about the Trans-Siberian Railway and more!

The post Europe’s Best: By Car, By Ship, By Train appeared first on AWM.