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Managing Your Travels and Savings

Enjoy the opportunity to get away while also finding ways to keep costs in check.

Managing Your Travels and Savings

As the middle of summer approaches, you may be looking to go on a last-minute trip or plan one for the near future. Enjoy the adventure, but keep in mind that there are things you can do to help make the most of your time and money without sacrificing your ability to continue saving for your future.

Keep travel costs in mind.

Think about how much you can and want to spend on a vacation by assessing what financial goals you have and haven’t met during the year, as well as your regular expenses. Consider how expensive a vacation you can realistically afford. Of course, the longer the vacation, the more money you’ll likely spend, and international travel is generally more costly than domestic. Additionally, you may find cost-saving options depending on what month, and even days of the week, you plan to vacation. The fall and winter months are usually cheaper than summer, and air travel is typically less expensive midweek than over the weekend.

Consider how you spend, and look to find ways to reduce costs.

Once you’ve booked your flight or loaded up your car, set aside a budget for how much you plan to spend on accommodation, food and any other parts of your trip. You can save money on a meal, for example, by staying at a hotel or inn that serves a complimentary breakfast. And if you plan to take a guided tour or visit historic sites or theme parks, keep in mind that these activities all add to the overall cost of your trip. Find out if there are deals that you can take advantage of, such as discounted prices on certain days of the week or times of the day.

With careful planning, you can still enjoy a memorable vacation while keeping costs down and arrive home knowing you haven’t put your financial future on the line.

You should consider the investment objectives, risks, and charges and expenses of the investment funds and, if applicable, the variable annuity contract, carefully before investing. This and other information is contained in the funds' prospectuses and summary prospectuses and the contract prospectus or brochure, if applicable, which can be obtained by calling 800.468.3785 or visiting mutualofamerica.com. Read them carefully before investing.

Mutual of America's group and individual retirement products that are variable annuity contracts are suitable for long-term investing, particularly for retirement savings. The value of a variable annuity contract will fluctuate depending on the performance of the Separate Account investment options you choose. Upon redemption, you could receive more or less than the principal amount invested. A variable annuity contract provides no additional tax-deferred treatment of benefits beyond the treatment provided to any qualified retirement plan or IRA by applicable tax law. You should consider a variable annuity contract's other features before making a decision.

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