$1.9B Omaha private bank team joins Private Wealth. Meet the team here →

private wealth

How Multigenerational Family Vacations Can Strengthen Your Family’s Legacy — Part 1

Multigenerational travel tips

Clark Griswold was right when he declared, “This is no longer a vacation. It’s a quest. It’s a quest for fun!” His sentiment aligns with the growing trend in multigenerational family vacations. People are prioritizing and carving out time for new experiences with their loved ones to create a quest for fun!

With busy work schedules and countless commitments, it can be challenging for families to find the time to connect on a deeper level. Families are also more geographically dispersed than they have been in the past. Trips that include grandparents, grandchildren and extended family provide a way for everyone to come together in a desired location and relax—while creating traditions that will last a lifetime.

Additionally, as more baby boomers reach retirement age, they’re looking for new ways to spend time with their families and create meaningful experiences. Many have accumulated wealth over their lifetime and are looking for ways to share it with their loved ones. This has led to increased demand for properties and excursions that are suited to multigenerational travel. 

Vacations have many personal benefits:

  • Reduce Stress and Recharge – Stress is a significant contributor to many health problems. Taking occasional time away from the demands of our work and other commitments is crucial for our quality of life.  
  • Focus on Quality Undivided Attention – When we step out of our daily routines and disconnect from all the distractions, we can focus on bonding with our loved ones and creating lasting memories. 
  • Reawaken Our Inspiration – When we take time to relax and enjoy new experiences, we can gain fresh perspectives and insights that help us return to our lives and work with renewed energy and focus. 

Vacation plans that are expanded to include extended family have all these benefits plus the opportunity to enrich family bonds. This blog will detail the impact we’ve seen multigenerational travel have on successful families.

The Far-Reaching Benefits of Multigenerational Family Trips

1. Foster Connections

Our daily lives demand so much of our time and attention. Additionally, family members are going in new, separate directions. By intentionally including each generation in a vacation setting, fresh opportunities are created for meaningful connection that may not take place anywhere else. Good, consistent connections are vital to a healthy family dynamic, particularly for large, successful families. 

2. Create Bonding Opportunities 

By bringing multiple generations together in one place, family members of different ages can learn more about each other and create lasting memories to be shared for generations. Grandparents may have the opportunity to share their life experiences, family history and wisdom with their grandchildren. In turn, younger generations have the chance to share their own life experiences, interests and perspectives with their grandparents. 

These moments can also create opportunities to have important family or business conversations that might not have occurred under different circumstances. 

3. Enrich the Family Identity

By spending time together in a relaxed and fun environment, family members can share stories, exchange ideas and create new traditions that can be passed down from generation to generation. For instance, sometimes the vacation destination, such as a shared family lake house, is the tradition itself. These experiences carve a stronger sense of family identity and pride as well as a deeper understanding and appreciation of the family’s history.

4. Build Core Memories for Younger Family Members

By experiencing new things together such as trying new foods, exploring new places and participating in new activities, kids and grandkids can build shared experiences that will strengthen their relationships with one another and create a strong foundation for long-term family bonds. 

5. Teach Live-Action Life Skills

Family vacations also provide fun ways to help younger generations develop important life skills, including adaptability and social awareness. 

Family vacations can offer hands-on opportunities to navigate new cities or transit systems; overcome travel adversities; broaden their worldview; and build positive habits in responsibility, communication and resiliency.

Our Favorite Family Trip Ideas

Watch for Part 2 of this blog in our upcoming newsletter, where our advisors will share their favorite family vacation ideas. In the meantime, reach out to an advisor for help planning ahead for great family vacations.

Investment Advisory Services offered through Private Wealth Asset Management, 1901 Howard Street, Suite 312 Omaha, Nebraska 68102. 888-611-7926. This report is being provided for informational purposes only and should not be used as the sole basis for financial decisions, nor be construed as investment advice designed to meet the particular needs of an individual’s situation. Contact your investment advisor to discuss your specific goals and objectives.


Expert insights delivered straight to your inbox.

We write to our friends and family every few weeks or so with big news, big ideas, and big updates. Sign up now and get the inside track.

wealth planning
hanging with grandson