Spending $10,000 Dollars On Vacation Without Feeling Guilty
6/9/202630 min
Learn how high earners can budget for vacations, spend on what they love, and prioritize experiences while they still can. Host Andrew Giancola and NerdWallet Wealth Partners CEO Ryan Sterling explore how high earners can approach vacation spending with intention. They cover how to set a vacation budget using a percentage of your income, the financial boxes worth checking before you book, and how to balance a generous travel budget with goals like early retirement. Then, Andrew and Ryan tier-rank a list of vacation upgrades — from business class and TSA PreCheck to skip-the-line passes and ocean view rooms — based on which are worth paying for. Reaction video about Christmas gifts from @kaitlinsmmith.trav https://www.tiktok.com/@kaitlinsmith.trav/video/7573138517170212151 Interested in working with a financial advisor? Visit nerdwalletwealthpartners.com NerdWallet Wealth Partners LLC (NWWP) is a SEC registered investment adviser. Registration does not imply a certain level of skill or training, nor does it constitute an endorsement by any securities regulator. The content presented by NWWP on its Your Next Dollar podcast is for informational and educational purposes only and is not intended as personalized investment, tax, or legal advice to any person. The views, strategies, examples, and figures discussed are intended to be general in nature, subject to change at any time based upon market or other conditions and may not be suitable for every individual. Any hypothetical illustrations used are for educational purposes only and do not represent a guarantee or prediction of future results. All investments carry risk, including the potential loss of principal, and past performance is not a guarantee of future results. NWWP's investment advisory services are only offered where NWWP and its representatives are registered. Before making any financial decision, seek advice from a qualified investment, tax, or legal professional.
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First 90 secondsAndrew Giancola· Host0:00
So today, we are diving in to spending more on vacations. Now here's one thing that we want you to know here on Your Next Dollar, is we want you to enjoy your money, and we want you to spend more on the things that you actually value. And so that is why this episode is gonna be so exciting, and one of the most fun topics to talk through. Most people out there won't tell you that. They'll say, "Hey, save or hoard some of your cash." But we want you to spend more on some of the things that you love. So today in this episode, we're gonna be diving into how much should you spend as a high earner. A lot of high earners have the question, am I spending too much? Am I spending too little? But we're gonna be diving into how much you should be spending as a high earner. We're gonna talk through some of the financial boxes that you should consider checking off before spending those dollars on a vacation. Obviously, we don't wanna go on a vacation and never be able to retire, so we wanna make sure that we are checking off some of those boxes first. We're gonna talk about how to cut spending on some of the areas on your vacation that you could care less about, and spending more on the areas that you actually care about. Plus, the percentage of your gross income that you can consider spending on a vacation. Now, some of you may feel as though this percentage is pretty high. Some of you may feel as though, ooh, this is less than what I actually spend right now. So that's gonna be a fun portion that we'll be diving into. And the trips that you should take in your 30s and 40s that may be much more difficult to take as you age, and how to prioritize some of those fountain of youth trips that we'll be talking about today. Plus, we'll be diving into how to think about a vacation when it comes to family experiences. What are the most