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-   -   Will the NASDAC's Decline & Dow's Tumble Make a Difference in Your Travel Plans? (https://www.fodors.com/community/europe/will-the-nasdacs-decline-and-dows-tumble-make-a-difference-in-your-travel-plans-111643/)

DayTrader Mar 12th, 2001 07:11 AM

Will the NASDAC's Decline & Dow's Tumble Make a Difference in Your Travel Plans?
 
Seriously, will the present (going down, way down) condition of the U.S. stock market make a difference in your travel plans to Europe over the next year?

Judy Mar 12th, 2001 07:28 AM

Yes, daytrader, it will affect our traveling plans, and many other plans too(retirement,acquisitons etc,). I wish it were not so, but this downturn can hurt all levels of society, not just US, but wordwide. It is a ripple effect...maybe even tsunami like. <BR>We "like" to take at least 2 Europe vacations, and 3 US/Canada/Mexico trips. We may have to pare down the list a bit.... quite a bit actually. <BR> Judy :-(

DayTrader Mar 12th, 2001 07:41 AM

Hi Judy: <BR> <BR>Alas, my husband and I are in the same situation -- we will most likely cut back on the length of time we would have spent in Europe and rather than making it 15-17 days, will make is 8-9 days. <BR> <BR>Day

Art Mar 12th, 2001 07:48 AM

Hi daytrader, no, it will not affect my travel plans this year or next year, but it has affected my plans to pick a new MB Conv in Germany next year. I'm hoping that it will recover within the next 4 years. If not I guess I'll have to continue to work for a while. <BR>

Rex Mar 12th, 2001 07:53 AM

Yes, a little bit. Travel cannot come before three kids' college costs. <BR> <BR>I may be nuts, but I am not irresponsible. <BR>

Bushwhacked Mar 12th, 2001 08:04 AM

NASDAQ and the Dow may have far less impact on people’s travel plans than George Bush. He has been crushing consumer confidence with his dire predictions about the economy, which is still relatively strong, just not as robust as it was a year or two years ago. Why is he so pessimistic? So he can set the stage for his bogus tax cut, which will benefit the rich (the top 1%) and leave the rest of us with crumbs. If you’re worried about your Social Security and Medicare benefits (where we should be using the so-called surplus) being available when you retire, you might want to talk to your Congress(wo)man and Senators and make sure they stop Dubya in his tracks.

Annie Mar 12th, 2001 08:16 AM

Why would the markets have anything to do with my travel plans? The money I do have in the market is going to stay there--only a fool would invest money he/she can't afford to leave untouched for a very minimum of 5 years. Any money that you'd have to get at before that time should be in less risky investments. <BR> <BR>I love that stocks have fallen. This way, I can buy cheaply.

Shut Up Mar 12th, 2001 08:23 AM

Get a life, Annie!

mom Mar 12th, 2001 09:13 AM

It won't change my plans, although if the dollar falls against the Euro currencies it may make a difference is how well we eat while we're there. My investments are all long-term. Good companies will rise again.

Patrick Mar 12th, 2001 10:17 AM

Indirectly it will affect me. Although I don't plan on touching what I have in a very highly rated mutual fund, last year it dropped drastically in value -- no big deal in itself. But the fund hit me with a $35,000 capital gains. I understand this was quite common this year as funds started selling off some of their tech stocks which resulted in huge gains for the company, but translates to a loss to me for the year. So I have to pay about $4000 extra in tax to cover that capital "gains" which really was a loss! That extra tax payment is coming right out of my travel fund! And unfortunately I'm doing my long summer trip in the US including Alaska this year. It would be far more economical for me to be traveling in Europe this summer.

Rex Mar 12th, 2001 10:31 AM

Annie, <BR> <BR>I am guessing you have no kids in college yet (or none still). True enough, our invested money is not our travel money. But the downturn in the market means that now is NOT the time to sell certain stocks for college costs. So the difference comes from current income. And, as a corollary, discretionary income IS impacted - - for a lot of families in what might be prime travel years. <BR>

Ess Mar 12th, 2001 11:26 AM

It might alter my choice of a travel companion if my boyfriend gets any crankier. But our trip's still on for May. I don't plan too far ahead for the future - we'll see what happens.

Diane Mar 12th, 2001 11:30 AM

With the downturn in the stock market I am reconsidering travel this year. I try not to earmark specific money for any particular purpose, but seeing my retirement savings dwindle makes me hesitate to spend on vacations. I believe the market will turn around at some point, so right now it's just a loss on paper. Still, I'm not wealthy and need to be cautious.

traveler Mar 12th, 2001 11:35 AM

my traveling will not be affected (i only can take 1 major vacation a year anyway). Although my new living room sofa and bedroom furniture will have to wait!

Pierrette Mar 12th, 2001 11:53 AM

Our travel plans will be affected. We live in a high tec area and got caught in the investment wave so along with the low canadian dollar we will definitely be putting trips on hold.

Annie Mar 12th, 2001 01:11 PM

Luckily for me, I have no kids in college. However, should I have kids, they, like me, will pay their own way through college. <BR> <BR>I don't understand how anyone who currently needs to pay college tuition would leave this money in the market. That money should have been transferred into stable investments at least 5 years ago.

xxx Mar 12th, 2001 01:20 PM

Annie <BR> <BR>Everything you have said on this thread makes great investment sense. You go, girl!

Mark Mar 12th, 2001 06:08 PM

Dear DayTrader, <BR>There will be lots of people (travelers) affected by the sixty-two percent (as of today) drop in the NASDAQ this past year. <BR>Most people, excluding politicians, live on budgets based on their incomes. When your income or capitol gains are less, you should probably spend less. Hence, less $$ on traveling to Europe. <BR>The NASDAQ in the late nineties got over inflated on Y2k scams and Internet fantasies. It was driven up on hype and hope not facts and profits. <BR>Although, even when the markets are diving, wise investors can still make money. <BR>Fortunately for me, I plan travel more this year. And thanks to President Bush and his across the board tax cuts, maybe next year we all might have a little extra $$ to spend on travel. <BR> <BR> <BR>Mark <BR>

SharonM Mar 12th, 2001 06:11 PM

Unfortunately (?), Daytrader, <BR>I doubt it will. I don't have a lot of money to invest and/or lose at this point...

Kay Mar 12th, 2001 06:39 PM

Mark - <BR> <BR>Where are you going with the whopping $348 you'll get - Newark?


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