Former Video Producer Regrets Not Saving Enough for Future While Fulfilling Travel Dreams
ICARO Media Group
In a recent CNBC article, Helen Zhao, a former video producer who quit her dream job to embark on a year and a half of extensive travel, revealed her financial regrets. Despite the enriching experiences, Zhao expressed remorse for not saving enough money for future milestones like a house or retirement.
Zhao, who had worked as a video producer at a news outlet for four years, took the bold decision to quit in 2022 and explore 18 countries across Asia and South America. With a modest budget of $34,000, she lived her dream of immersive travel but now finds herself facing the consequences of a depleted savings account.
At the age of 34, Zhao shared her concerns about being unprepared for retirement and lacking the savings for a down payment on a house in her hometown of Los Angeles. These financial setbacks also made her feel unready to start a family.
While she emphasized that she didn't regret the money spent on her travels, Zhao admitted that better financial planning and saving from an earlier age could have allowed her to pursue her dreams without jeopardizing other life goals. Reflecting on her journey, she mentioned her wish to have studied personal finance, started saving, investing, and planning her career from high school.
Despite numerous attempts to reach out to Helen Zhao for comments, she did not respond to Business Insider's request.
According to a report by the International Trade Administration, more than 54 million Americans traveled abroad in 2022. On average, individuals spent approximately $1,783 on their international trips that year. However, not all travelers share Zhao's regrets about the financial implications of their travel choices.
In contrast, some individuals view spending substantial sums on travel as worthwhile investments. In 2019, a woman expressed no regrets about her plan to spend $50,000 on travel in a single year. Additionally, in a recent interview, another woman encouraged others to follow her footsteps, having spent all her savings on a European adventure.
Helen Zhao's experience serves as a reminder of the importance of striking a balance between following one's passions and securing a stable financial future. As more individuals contemplate leaving their routine lives behind for travel, it is crucial to consider the long-term consequences and plan accordingly to avoid financial regrets later on.
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