A Country Financial security survey shows two-thirds of millenials would work for a year longer to pay for a dream vacation. (Photo by KenTeegardin/flickr)
By Eric Stock
BLOOMINGTON – Americans love to travel, but not if it means going into debt.
A Country Financial Security survey shows most Americans would rather put off retirement for a year to get to take that dream vacation than take a lower-paying job that offered more travel flexibility.
“This goes right in line with why it’s a fun thing, it’s something we look foward to,” said Country’s Troy Frerichs, director of investment-wealth management. “You don’t want to be stressed when we come back from vacation and have to pay it off.”
Forty percent of those surveyed say a lack of funds stop them from packing their bags, but there are other factors, such as work and family obligations.
“It’s a core value for Americans to want to travel, yet when you talk to the middle class, a lot of them think it’s impossible to travel without going into debt. A lot of people just are planning, they just go and do it.”
Two-thirds of millenials say they would be willing to delay retirement for a year to be able to travel. Frerichs said as retirement approaches, older generations have a harder time justifying financial sacrifices for vacations.
Eric Stock can be reached at [email protected].
