Planning Smart for Summer Travel: Financial and Lifestyle Considerations for Families
Planning Smart for Summer Travel: Financial and Lifestyle Considerations for Families
As summer approaches, many of our clients begin shifting their focus from boardrooms and business decisions to something just as valuable—intentional time with family. Whether it’s a two-week journey through Europe, a luxury safari, or a relaxing week at the beach house, summer travel is more than a vacation. It’s an investment in your life, your relationships, and your legacy.
At Asempa Wealth Advisors, we believe wealth should support the life you want to live. That includes making thoughtful decisions about how, when, and where you spend your time away. Below are five considerations we encourage all of our clients to keep in mind as they plan for summer travel.
1. Make Travel Part of Your Broader Financial Strategy
Many families manage multiple priorities: funding education, purchasing a second home, giving to causes they care about, and reinvesting in business ventures. Travel becomes most fulfilling—and financially responsible—when it’s part of a well-designed plan.
For example, a $25,000 family trip might come from a travel-specific fund, be supported by year-end bonuses, or fit neatly into a discretionary spending category we've defined together. The key is intentionality.
If you're traveling internationally, it's also worth reviewing currency exposure, international transaction fees, and how to take advantage of premium credit card perks.
2. Use Travel to Strengthen Family Legacy
Some of the most meaningful uses of wealth come in the form of shared experiences. Many of our clients use travel to create deeper family bonds, teach generational values, and bring loved ones together across age groups.
We’ve seen clients:
-
Take children to visit ancestral countries or philanthropic projects they support
-
Invite extended family on multi-generational trips
-
Host informal family discussions around shared values and estate plans
Sometimes the most impactful legacy conversations happen on a patio in Provence or during a long walk on a quiet beach.
3. Explore Business and Tax Opportunities
If you're a business owner or executive, portions of your travel could have tax implications—if properly structured. For instance, attending a professional conference, visiting a business location, or meeting with partners during a trip may qualify some expenses as deductible.
Let us coordinate with your CPA ahead of time to ensure you’re handling it correctly. It's a simple step that could offer meaningful savings.
4. Elevate the Experience with Concierge-Level Services
Time is one of your most valuable resources. That’s why many of our clients use concierge travel firms, private aviation charters, or high-end travel advisors to take the pressure off of planning. If you’re planning a complex itinerary, a special celebration, or a once-in-a-lifetime experience, working with the right professionals makes all the difference.
We’re happy to connect you with firms that match your level of sophistication and service expectations.
5. Review Estate Plans and Emergency Details Before You Travel
Before traveling, especially internationally or without your children, we recommend reviewing key estate documents and confirming emergency protocols are in place. A few important items to consider:
-
Are your will and healthcare directives up to date?
-
Have you named temporary guardians if needed?
-
Do your advisors have access to emergency contacts and travel details?
It takes only a few minutes to confirm—but the peace of mind it brings is invaluable.
Final Thought: Let Wealth Serve the Life You’re Building
Wealth isn’t just about numbers on a screen. It’s about the freedom to live meaningfully, the time to be present with the people you love, and the ability to create a lasting impact. Your summer travel plans are a reflection of the life you’ve built—and the life you’re still building.
If you’d like to review your travel plans through the lens of your financial strategy, let’s connect before your next flight. We're here to help you make the most of the wealth you've worked so hard to earn.