Luxurious Vacation or Affordable Mini-Retirement?

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There's a guy I interact with occasionally in the personal finance space on X (formerly Twitter).

His account is anonymous, but from what I can tell, he's a young guy (in his 20s), married, with no kids, and lives in South Carolina.

His content consists of updates to his investment portfolio and his and his wife's progress toward becoming millionaires by their 50s.

Cool.

This past summer, he was excited about his upcoming vacation to Hilton Head Island and shared his excitement often on X.

When he returned from his vacation, he posted how much it cost him, and, I'll be honest, I was a bit shocked by the amount of money this guy spent.

Before I get into the details, let me preface the rest of this article by saying I am not knocking anyone for how they spend their money, especially on a vacation.

I am all about investing in life experiences.

I am not passing judgment in any way, shape, or form.

But if I'm being honest, I was a bit taken aback and surprised by the amount of money this guy spent on a one-week beach vacation.

The amount of money this guy spent on his one-week vacation for two people is more than the amount I spent for a month in Europe.

Here are the details…

The first thing that stands out to me is the total cost of the hotel, which is $4,205.

That is a breathtaking amount of money for a hotel room.

This is especially true considering that for that amount of money, two people can go to a decent all-inclusive resort in the Caribbean or Mexico for less than $4,000, and the total price may include airfare.

Heck, you can probably buy a decent used car for that amount of money.

Just thinking about my last two mini-retirements, the total costs for accommodations alone were ~$2,500 and ~$2,800 for decent-sized, quality Airbnbs with balconies.

Here are some ballpark numbers of money I spent on mini-retirements:

Airfare

• Round trip tickets from NYC to Europe in 2018/2019: ~$600

• To Madrid in 2022: ~$900

• To Vienna in 2023: ~$1000

I paid $0 each time.

Pro Tip: Use credit card reward points to pay for airfare.

I haven't paid for airfare using cash since 2017.

Accommodations

In 2022, I stayed for one month in a 2-bedroom Airbnb in Barcelona with a balcony overlooking the city. The total cost was ~$2500.

In 2023, costs for Airbnbs in 2 different cities (Vienna & Budapest) with balconies: ~$2800.

I prefer an Airbnb (or an apart-hotel) over a hotel because they are typically more comfortable and have kitchens to reduce food costs (eat-in vs. dine-out).

And I can always find one with a balcony.

Trust me on the balcony.

There's nothing better than enjoying your morning coffee or evening drinks on a balcony.

Pro Tip: reserve your Airbnb through an account that rewards you.

I reserve Airbnbs through my M1 credit card.

I earn a 2.5% reward based on the total cost of the Airbnb invested in my M1 brokerage account.

Spending money

I didn't keep a daily budget during my first 3 mini-retirements (not smart and an easy way to overspend).

In 2023 (my 4th mini-retirement), I set a $50/day budget (~$1500) for spending (drinks, groceries, dining out, etc).

This budget allowed me to go out to dinner every night.

The cost for a 1-month mini-retirement (for 1 person based on my 2023 mini-retirement):

• $~1400 accommodation

• $~1500 food/spending money

• $~1000 round trip airline ticket (FREE!)

• $~50 first-class train ticket from Vienna to Budapest

Total: ~$2950

I do not understand the idea of spending over $4,000 (using points or not) on a hotel room for two people on or near the ocean.

But hey, to each their own.

Maybe the guy doesn't have a passport or simply doesn't want to travel internationally to an all-inclusive resort.

But there are definitely other options.

I took a one-week beach vacation to Florida (Panama City Beach) in 2023 and stayed in an Airbnb with a balcony overlooking the ocean for $1010.59.

Again, I am not here to knock anyone for how they spend their money or how they choose to vacation.

There is no judgment from me in any way, shape, or form.

There are plenty of variables in anyone’s specific vacation equation.

However, it certainly pays to research your options to get the most bang for your buck when it comes to traveling during your vacation.

Especially if one of your goals is to become a millionaire by the time you turn 50.

I will always "pay a little extra" for an Airbnb with a balcony overlooking the ocean or a city.

I'm just not willing to "pay a little extra" for a $4,000 hotel room when I know there are a variety of affordable options that are just as good, if not better.

Unless it was in the Maldives or Fiji.

Quote that caught my attention:

“The real voyage of discovery consists of not in seeking new landscapes, but in having new eyes.”

—Marcel Proust

You can find the collection of financial tools & resources that helped me grow from a 6-figure debt to a 6-figure net worth by clicking here.

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