Ask HN: Traveling, Investing and Relaxing Advice

1 points by eaglehead 2 years ago | 1 comment

Disclaimer: I know that this is not the best place to seek financial advice. This post is not meant to be a 'give me a recipe'; it's more like a collective thinking post.

So I currently have 2 rental properties netting me $3100/month in rental income. These properties are paid off, so no mortgage payments.

I do live in a HCOL city so my current rent is $5k/month and with kids school, grocery and entertainment it comes to $5k/month; so a total of $10k/month.

Our current liquid cash holding is approx $1.2M.

Wife and I want to start traveling during the summer holidays, but wondering how to best plan for it. i.e. how do we plan it so it makes sense financially.

We also are trying to figure out how to best deploy our cash so that it enables us to make world trips during summer holidays.

Has anyone else planned something like this for their family? How much should we budget for a decent trip to places like Toronto, Vancouver, New York, London, Tokyo etc..

Would love to learn from your experience and discuss how to setup for future.

tcbawo 2 years ago |

I’m not a financial planner, but you might want to seek one out. There are fee-based ones that will give you advice and help you plan for near term financial goals in addition to retirement. Make sure you find a licensed CFA, who has a fiduciary responsibility to have your best interests in mind and avoid the ones that make commission on selling you investment products.