Disclaimer: I know that this is not the best place to seek financial advice. This post is not meant to be a 'give me a recipe'; it's more like a collective thinking post.<p>So I currently have 2 rental properties netting me $3100/month in rental income. These properties are paid off, so no mortgage payments.<p>I do live in a HCOL city so my current rent is $5k/month and with kids school, grocery and entertainment it comes to $5k/month; so a total of $10k/month.<p>Our current liquid cash holding is approx $1.2M.<p>Wife and I want to start traveling during the summer holidays, but wondering how to best plan for it. i.e. how do we plan it so it makes sense financially.<p>We also are trying to figure out how to best deploy our cash so that it enables us to make world trips during summer holidays.<p>Has anyone else planned something like this for their family? How much should we budget for a decent trip to places like Toronto, Vancouver, New York, London, Tokyo etc..<p>Would love to learn from your experience and discuss how to setup for future.
I’m not a financial planner, but you might want to seek one out. There are fee-based ones that will give you advice and help you plan for near term financial goals in addition to retirement. Make sure you find a licensed CFA, who has a fiduciary responsibility to have your best interests in mind and avoid the ones that make commission on selling you investment products.