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Level 5

QUESTION: Do You Save More or Less for Retirement In the Summer?



There are two times a year that I absolutely bleed money: during the winter holiday season and the summer. Toward the end of the year, my money goes toward gifts, decor and entertaining. In the summer, I spend on home improvement projects, yard upkeep and travel. Speaking of summer travel, taking a vacation for us self-employed folks often means leave without pay, which only adds to a general lack of funds.


Did you know? According to a 2016 American Express Spending & Saving survey of 2,000 adults, the average person spends $941 per individual on vacations.


While I’m dreadful at saving for retirement (or anything else) in the summer months, others like fishing captain Megan Corazza are opposite. She says, “Fishing is definitely a seasonal business and one that depends both on market conditions and the return of salmon to the ocean. Some years are lucrative, and some are very poor. On the big years, when you receive all your profits in a lump sum from the cannery in September, you have to spend very carefully, knowing that the following year or two could be extremely poor.”


What about you? How do your business and personal finances change (or not) in the summer months?


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