Career Break to Travel
Taking time off work to travel or pursue personal goals can be incredibly rewarding, but it also requires thoughtful financial planning to avoid putting long-term goals at risk. The first step is understanding how much you’ll need to cover your living and travel costs during the break, and how you’ll fund them, whether from savings, temporary part- time work, or liquidating investments. You’ll also want to review your superannuation contributions and insurances, as pausing employment may affect both. If you’re planning to travel overseas, you might need to rethink how your money is accessed, managed, and protected across different jurisdictions. Importantly, this is also a good time to assess your investment strategy, tax position, and any opportunities to reduce fixed expenses during your break.
A financial adviser can help you map out a strategy so you can enjoy your time off without compromising your financial future.