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Tom Limoges

July 24 , 2017

Changes to the Traditional Family Vacation


According to a recent survey by AAA, 35% of Americans will travel as a family this summer.  Highlighted in the 1980s movie “National Lampoon’s Vacation”, road trips remain the most popular form of vacation travel.  While the Griswold family stayed in a motel (with that famous hexagon pool), Americans today have a variety of options available for booking vacation lodging that weren’t available to Clark.  Online vacation rental websites and apps have increased competition, increased the number of families that travel, and altered how consumers look at selecting vacation lodging.    

Changes in how we purchase goods and services are taking place across many sectors of the consumer market.  From free two-day online delivery to drive-through order pickup at big box stores, the trend is moving towards a more convenient shopping experience for the consumer. Like the lodging industry, the financial services industry has also been affected by changes in consumer preferences and technology. Security National Bank offers People Pay which allows you to easily pay or transfer money to another person from your phone.   

How do these changes in consumer preference affect your retirement portfolio?  As investors, we don’t want the companies that we own to end up as victims of their own technology that has become outdated.  On the other hand, owning disruptive consumer companies can be expensive from a valuation perspective (Netflix is currently at 220 times earnings) or nearly impossible because the company is privately held.  Our approach is more balanced – owning reasonably priced companies whose products and services are “right” for the times and have a proven ability to adapt to change.  This approach has produced consistent returns over time with lower risk.  If you have questions about the companies you own either inside or outside of your account with Security National Bank, please let us review them with you. 

Lastly, if you plan to hit the road in your Wagon Queen Family Truckster this summer, please call ahead to make sure Walley World isn’t closed down for repairs.

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