When it comes to vacations, the Baby Boomers have a new priority: togetherness.
As the boomers head into retirement, they've got the time and money to indulge their desire to travel—and they're choosing to take those trips with their kids and grandkids. According to industry marketing firm MMGY Global, 37% of grandparents with a household income greater than $50,000 who took a vacation last year did so with grandchildren, up from 28% in 2007. And 78% of these trips included all three generations.
For most families, the goal is simple: to have fun. But with families finding it harder to get downtime, people also "see this as an investment in creating memories," says Kyle McCarthy, editor of Family Travel Forum, a website for consumers. So the trips can get elaborate, everything from safaris in Africa to hikes along the Great Wall in China to tours of castles in Europe.
Especially popular are grandkids sporting events, cruises, resorts and tours with all-inclusive prices, children's programs and the flexibility to do things together as well as apart. Some tour companies even have units that cater exclusively to families and multigenerational groups.
Because these trips require coordinating disparate schedules, preferences and budgets, planning ahead is key.
Source: The Wall Street Journal, July 16, 2012
John Agno: Boomer Retirement Life Tips ($2.99)
John Agno: Books for Boomers: Reviews & Coaching Tips (Free)
Subscribe to this blog
