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Hi Taylor:
Is it worth buying holiday travel right now? I feel like it's not
necessarily safe to board a plane, but that could change in a few
months and the prices I'm seeing are hard to beat. Should I take a
chance?
Hi Dave: Great question, and one I've been thinking about myself
over the last few months. If you weigh all the pros and cons, you
might be able to save a lot of money on plane tickets that normally
suck your bank account dry. But is it worth it? |
1. Safety.
This needs to be your primary concern, of course. You can't put
anything above the well-being of you and your family, not to mention
everyone else you'll come in contact with. As we've seen over
the last five months, no one has had much success predicting the
end of this pandemic. It's best to assume we'll still be taking
a lot of precautions in December of 2020 that we weren't thinking
about in December of 2019. Major airlines have taken a lot of
precautions to ensure flights have people distanced and masked.
Before purchasing tickets, go to the airline's website to read
up on the steps they're taking to mitigate risk.
2. Refund/exchange policy. When things first shut down, refunds
were handed out readily. From what I'm seeing, airlines are still
accommodating changes in a way they never would have pre-coronavirus.
That's another thing to read about on the company's website, but
you might want to take the unprecedented step of actually making
a phone call to talk to customer support before buying. Travel
policies have been changing by the day so getting verbal confirmation
from an airline employee might offer the best guarantee.
3. Planning ahead. Before you get excited about where you
might go in December, take stock of what's going on with your
job and your family. Make sure you can afford to travel, even
if the tickets are cheap. Think about your schedule and the schedules
of whoever you might be visiting, since this year's holidays will
be unlike any we've seen before. If you're thinking about Christmas
the way you used to, consider a holiday season where people already
have the flu and other sicknesses, now with a global pandemic
mixed in. You can't predict the future, but you can assume things
will be different this year and you'll want to try to account
for that.
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Start by listing
all the cons for buying plane tickets now. After that, if it still
seems like a worthwhile booking, I say go for it. Just be ready to
change your plans if circumstances demand it. Safe travels!
© Taylor Kovar
August 24, 2020
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Legal Disclaimer:
Information presented is for educational purposes only and is not
an offer or solicitation for the sale or purchase of any specific
securities, investments, or investment strategies. Investments involve
risk and, unless otherwise stated, are not guaranteed. Be sure to
first consult with a qualified financial adviser and/or tax professional
before implementing any strategy discussed herein. To submit a question
to be answered in this column, please send it via email to Question@GoFarWithKovar.com,
or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.
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