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Featured Advisor



Asset Preservation Advisors




City:Atlanta

State: GA



BIOGRAPHY:
APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Spring Break 2012: Full Speed Ahead

Spring Break 2012 is likely to take place as planned despite Americans' financial concerns and rising gas prices.

| BY Adriana Reyneri

 

Spring Break 2012 is likely to take place as scheduled, according to the results of a recent Millionaire Corner survey indicating most Americans are planning to take a vacation this year despite economic concerns and rising gas prices.

About 85 percent of survey participants, representing a range of wealth levels, say they plan to travel in 2012, and 90 percent say they were able to take a vacation last year, according to a February poll.

More than 70 percent say their travel plans are largely unaffected by financial concerns, while about 27 percent of participants say they have had to scale back their vacation plans this year, according to our survey.

Most impacted are households with less than $100,000 in investable assets. Fifty-seven percent of families in this wealth segment say they have had to scale down or altogether postpone vacation plans in the past two years. The same is true for more than 46 percent of investors younger than 40.  Our research shows that these two demographic groups are also more likely to leave unused sick and vacation days on the table.

Financial concerns appear to continue to curtail their travel plans. While most participants plan to fly to their destinations this year, younger and less affluent investors are more likely than their millionaire counterparts to be taking a road trip.

The vast majority of households appear unwilling to give up the family vacation – an iconic element of the American Dream – despite stated concerns about the job market, home values, debt levels and the ability to save.

Households with less than $100,000 in investable assets rank “reducing my personal debt” as their most pressing financial concern at this time, according to our February survey. They identify job security “for myself or my spouse” as their second most pressing concern and express equally high levels of concern about their ability to save and having enough money for retirement.

Millionaire households – those with a net worth of $1 million or more, not including primary residence – are most worried about retirement security, the cost of health care and inflation, but these concerns aren’t keeping them at home. Millionaires households – at nearly 88 percent - are the most to take a family vacation this year, compared to 69 percent of households with less than $100,000. Fewer than 15 percent of Millionaires report that financial concerns have forced them to postpone or scale back on their family vacation plans.

It looks as though Spring Break 2012 party will go on as planned for most Americans, particularly its wealthiest citizens.