Building family vacations into your wealth plan

Key takeaways

• Family vacations can be incorporated into a comprehensive wealth plan just like retirement, education funding or major purchases.
• Multigenerational travel continues to grow in popularity, making advance planning increasingly important for families seeking meaningful shared experiences.
• Establishing a dedicated vacation budget can help balance travel goals with long-term financial objectives.
• Separating financial priorities into core needs, important wishes and lifestyle goals can help determine the most appropriate funding strategy for travel expenses.
• The timing of a trip should influence how vacation funds are invested, ensuring money is available when needed.
• Systematic saving through monthly contributions can make large travel experiences more attainable and easier to manage within an overall financial plan.
• Travel rewards credit cards and trip insurance may help maximize value and protect a significant vacation investment when used thoughtfully.
• A well-structured wealth plan can help families create memorable experiences while maintaining confidence in their broader financial future.

How the trip of a lifetime can be wrapped into your financial plan.

When we think about our wealth plans, we often focus on increasing and protecting our financial assets so we can buy a house, pay college tuition or retire comfortably without having to worry about outliving our money. However, properly managed, wealth plans can be used for fun, too.

“The reality is a vacation is a major expense,” says Jason DiNozzi, CFA, a Wealth Advisor at Regions Private Wealth Management. “The level of luxury and add-ons can add up quickly so it’s great to have a clear budget for them and understand the impact on your long-term goals. A vacation is one of the most cherished memories in life we get to keep, making it an incredibly valuable asset.”

We may be used to viewing financial assets as a means to an end such as for retirement or a home purchase, but family vacations and second homes can bring people together in a unique way, creating a legacy of memories.

Multigenerational travel – and “kidfluence”

Multigenerational life experiences are in demand, according to a collaborative report from the Family Travel Association, New York University’s School of Professional Studies and Good Housekeeping. Airplanes are full, cruises are sold out and the latest travel trends are inspiring everything from ancestry travel and luxury train hopping to astro-cruising and period drama tourism, according to Conde Nast’s Biggest Travel Trends of 2026. Whether it’s a week at a Florida theme park or two on an African safari, none of these pleasures are free. And with children and grandchildren in tow, costs can escalate far above the miscellaneous line item in a family’s annual budget.

When dreaming up that trip of a lifetime, financial planning should be intentional. For some, it may take a couple of years, or even longer, to save up for a major excursion. For example, that African safari could easily cost $1,500 per night per person according to Safari Ventures’ latest data. With the rise of multigenerational travel, those trips can easily tip the scales well into the tens of thousands. “Planning plays such a big role,” he says, “because it could be a once-in-a-lifetime event.”

The report found that 71% of grandparents have recently taken a multigenerational vacation, with 57% planning one in the future. It also noted that children are having more influence over the family vacation with 74% of parents saying their kids love to travel. A significant 84% of parents believe this involvement makes children more adaptable.

Large family groups are a significant contributor to market growth, according to the report which found the top choice for multigenerational travel is beach vacations. That said, cruises and international trips are becoming more common as aging parents seek out opportunities for creating connections and memories with their children and grandchildren.

They are also engaging in skip-generational travel, where it is children and grandparents traveling together without the parents present. These vacations lean towards museums and cultural attractions, according to the report. Dubbed “Grandma/Grandpa Getaways” on the Conde Nast Top Travel Trends of 2026 list, these vacations may focus on non-digital activities such as embroidery, bird-watching or stamp collecting. For some children traveling with their grandparents, a multi-generational vacation can create an opportunity to learn these slower-paced, tactile skills or provide ways to connect with nature.

Factor in the fun

It pays to proactively factor vacations into your family’s wealth plan, DiNozzi says. “When we meet with our clients, we ask, ‘What are your goals for the next five years?’ If you want to take your adult children and grandchildren to the Swiss Alps, we’ll ask, ‘What costs are you expecting and what is your overall budget?’ and then we are able to help guide you to save for it.”

Even that domestic theme park vacation can become a much more expensive endeavor than originally thought. The add-ons and food alone could easily double the cost of a week of fun. And the decision to fly coach or business class can easily boost your budget beyond your original expectations.

“That’s the beauty of a wealth plan,” says DiNozzi. “It is an invaluable tool that gives you clarity on your decision making.”

Taking a thoughtful and data driven approach to incorporating vacations into your wealth plan is key and based on your unique situation. Some families may prefer a conservative approach that doesn’t involve spending down existing assets, especially those aimed at retirement, while others may be willing to take more risk. There are various investment or savings strategies that may help support funding a vacation without digging into (or risking) the underlying savings. The amount of money and the type of investment it goes into, and for how long, will depend on the goal in mind.

DiNozzi recommends separating what are core needs, important wishes and fun wishes, which he says are three distinct categories of needs. The types of investments that are most suitable for those needs will vary with risk exposure.

“Think of it this way, your funds for core needs will want to be conservatively invested,” he says. “The other wants – or wishes - that are perhaps less impactful to your well-being may have investments that allow for slightly higher levels of risk.”

The timing of when money will be needed may also impact the style of investments. “I can’t emphasize this enough,” DiNozzi notes. “If you know you have vacation money coming due in six months, then your investments need to be able to provide that cash by then.”

“We advise our clients tactically on how long it may take them to achieve their goal. Is it a year? Is it two? We also consider the plan a working document subject to review, and if it needs to be adjusted – perhaps, to add family members to the trip - we adjust it along the way until that goal in achieved.”

Individuals with larger portfolios may opt to purchase Treasuries (U.S. government bills, notes or bonds) or certificates of deposit whose yields and time to maturity best fit their needs. These fixed-income investments may remain under the existing portfolio umbrella, but the growth, if realized, may be earmarked specifically to fund future experiences.

For example, if a client invests $100,000 in an investment product yielding 4%, it could generate approximately $4,000 annually before taxes which could go toward the family vacation. A larger investment amount may generate more income. However, the timeframe for meeting a travel goal will depend on yields, market conditions, taxes, expenses and individual circumstances.

Reaching vacation goals over time

Families and individuals may find it more advantageous to regiment the process over time, redirecting money from their portfolio or their checking or savings accounts to a money market fund on a monthly basis. “This is an excellent way to account for the funds you want to use for your vacation,” says DiNozzi. “On top of that, it’s a bit exciting every time you do, knowing you are one step closer to your vacation dream.” This approach may help add to the anticipation of the vacation.

There is also discipline in this approach, knowing that every single month a certain amount is going to go out. It’s part of your budget and that may be one of the best ways to reach that goal.

Wealth planning isn’t one-size-fits-all, and neither is this component of it, says DiNozzi. “Every person, every family has unique circumstances, needs, ideas, goals and wishes. Planning allows mapping where we can see the effects of our choices and customize it to reflect the many paths forward. It flows like a river, so think of a wealth plan like the paddle or oar you use in your boat while you travel downstream.”

Use credit and insurance strategically

One thing DiNozzi suggests is to carefully consider if a credit card is the right payment method for a vacation. He advises that families should consider if they are sure they can pay off the debt before any monthly interest accrues. Credit cards can come with frequent-flier miles, hotel points or even cash back, all nice little bonuses to offset the cost of the trip - or the cost of the next one. Regions offers a Visa credit card tailored to high-net-worth individuals.

DiNozzi suggests: Earn those points! He of course recommends ensuring you have the savings for that vacation ahead of time to pay off the credit card promptly to avoid or minimize interest charges. “I love points because in effect, you have given yourself a bonus by using the credit card as a method,” he shares. “I like to allocate those points to things I perhaps wouldn’t normally spend money on, like an extra treat.”

To protect your vacation investment, DiNozzi recommends considering trip insurance if the amount of money at stake is considerable, even if the premium appears costly. “Trip insurance is hopefully something you don’t ever need, but it may provide valuable protection when unexpected disruptions occur,” advises DiNozzi. “In those rare few events in your life when you need to use it, you will be grateful to have it.”

He speaks from experience, noting the difference is night and day when running into potential disruptions. The premiums are something that may be incorporated into the trip cost and factored into the wealth plan from the beginning.

Many individuals and families get hooked on saving for a big vacation or other luxury purchase and keep on doing it, discovering the irony that focusing on saving also allows them to focus on spending.

“When looking back on life, your vacations may become some of the most important keep-sake memories,” says DiNozzi. “Therefore, make them special, make them unique, and allow yourself to enjoy them. You earned it.”

Talk with your Regions Wealth Advisor about:

1. How to fund your next international excursion.
2. Incorporating travel into your retirement plan.
3. Different investment options to consider in reaching your travel goals.

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