Covid, 'Revenge Travel' and Making Up for Lost Time
No images? Click here By Elizabeth O'Brien | July 31, 2022 It’s the summer of “revenge travel.” The streets of New York City are bustling with tourists. Europe, I hear, is crawling with Americans. After Covid-19 stole our most precious commodity, people are chasing lost time around the world. Retirees are taking long-delayed bucket-list trips — and adding new destinations for good measure. It’s happening despite the bear market, inflation, and air travel woes. These headwinds have proven no match for the pent-up demand, although financial advisors say portfolio losses have given some prospective travelers pause. Yet for every person who’s scaled back, another is going big. One travel agent told me many of her clients are upgrading: those who normally fly economy are springing for business class, and those who normally rent a hotel room are booking a whole villa. Where are you traveling this summer? Please reply to this email and let us know. And read on to learn how older adults are traveling again without putting their nest eggs in jeopardy. What If the Fed Messes Up? A Portfolio for a Worse Economy. REITs and healthcare stocks are two investments that financial pros say could weather an environment of high inflation and slowing growth. And don't forget I Bonds. The Best Annuities for Growth and IncomeAnnuities come in a dizzying variety of flavors. Here are some of the best picks. How to Play Catch up With Your Retirement SavingsLifestyle shifts, like moving to a lower-cost area, can give your savings the biggest boost. 3 Things to Do to Manage a Bear Market in Early RetirementRetirees risk outliving their savings if market returns remain subpar. But bonds and cash can help savers improve their portfolios’ durability.
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