Multigenerational Travel Planning: Building Your Family's Travel Legacy

In this episode:

00:00 – 07:35: Financial Planning and Budgeting
07:36 – 09:49: International Currency and Money Tips
09:50 – 17:11: Safety for Different Generations
17:12 – 22:55: Building Traditions and Creating Memories
22:56 – 26:51: Creating Annual Traditions and Final Tips

n this episode of Your Money. Your Mission., travel experts Tom Karnes of LaMacchia Travel Agency and Elliott Hogan of Hakuna MaTravels share practical tips for planning memorable family vacations. From budgeting for multigenerational trips to navigating currency exchanges and online safety, they discuss how to create meaningful travel experiences that bring families closer together. Whether you're planning a first-time family getaway or building on a beloved tradition, this conversation is packed with helpful insights.

5 Key Takeaways

1. Start planning early and work with professionals 

The most successful family travel traditions begin approximately 12 months before departure. This advance timeline isn't arbitrary — it's when flight schedules are released and when travel advisors can secure the best rates and availability for large groups. When you're coordinating family members ranging from infants to grandparents, having a professional who understands the nuances of multigenerational travel is beneficial.

2. Master the financial rules of thumb of international travel 

When a waiter asks whether you'd like to pay in US dollars or local currency, always choose the local currency. This will save you from a double currency conversion, once by the merchant and again by your credit card, potentially saving hundreds of dollars per trip. Beyond this, Tom and Elliott recommend carrying a modest amount of local currency, using ATMs in public locations during daylight hours, bringing small bills for street purchases and putting major expenses on credit cards to maximize fraud protection.

3. Prioritize safety in the digital age 

Today's safety considerations extend far beyond traditional concerns about pickpocketing and securing your valuables. Elliott Hogan stresses that families must address social media safety before departure and wait until you return home to post vacation photos as real-time posting broadcasts both that your home is empty and your exact current location to potential fraudsters. For families traveling with teenagers, make sure they turn off location services on all their devices — many apps track and share location data without you even realizing it. 

4. Build in downtime and avoid over-scheduling 

Perhaps the most counter-intuitive advice from experienced travel agents: Plan less, not more. Tom Karnes often finds himself telling eager families to "pull the reins back" on their meticulously planned itineraries. A vacation should be about experiences you can't define ahead of time — the spontaneous moments that happen when you're not rushing from one scheduled activity to the next. Give yourself permission to schedule "off" half-days where nothing is on the agenda. Your family will thank you.

5. Use travel as a platform for teaching values 

Beyond the joy of family time, travel creates unique opportunities for important conversations that would feel forced in everyday settings. Parents and grandparents funding these trips are teaching children to appreciate what they have and how they can give back. These lessons are lived experiences that shape perspective in ways nothing else can.

Your happiness is a financial planning goal and being able to create these experiences while everyone still has their health, while children are still children and while the grandparents can still travel, is worth prioritizing. The perfect time to begin your family’s travel tradition is today.

Need personalized guidance? Reach out to your advisor or connect with one today.