ww52
DIS Veteran
- Joined
- Apr 2, 2001
We had a wonderful extended family trip last summer - our first with grandchildren. (And we'll be going back in 2020 with 4 grandchildren this time).
Last summer was so very special that my wife - the most generous and family loving person I can imagine - said she wants to celebrate our 50th wedding anniversary by paying for 6 nights for the whole family at the Grand Floridian.
Well, we've changed that to the Beach Club instead - but still VERY expensive. We'll need 4 rooms.
I've started saving for this already and I've projected the cost out to that special year (which is still 6 years away.)
The big variable of course is how fast the room rates increase. Right now - in July of 2019 - I see a garden view room at $474 a night. Plus 12.5% tax makes it 533.25. So that's my starting point.
Now - what factor do I use for the increase? I can't find any historical rates - not even 2018. I suspect there are people who go frequently enough to be able to give me a good estimate. I started using 7% each year - but that almost sounds too low. Yet if I use say 10%, we're up to $1000 a night ($945) by then. I guess that's not unreasonable (because ... well, Disney). So my target amount is about 24,000 to save (4 rooms, 6 nights, $1000 per night. And with what I started to put away I'll get there (I'm assuming a 6% return on my investments - and I'm considering taxes on that as well).
So my question is: is 10% still too low?
Any thoughts?
Thanks much!
Last summer was so very special that my wife - the most generous and family loving person I can imagine - said she wants to celebrate our 50th wedding anniversary by paying for 6 nights for the whole family at the Grand Floridian.
Well, we've changed that to the Beach Club instead - but still VERY expensive. We'll need 4 rooms.
I've started saving for this already and I've projected the cost out to that special year (which is still 6 years away.)
The big variable of course is how fast the room rates increase. Right now - in July of 2019 - I see a garden view room at $474 a night. Plus 12.5% tax makes it 533.25. So that's my starting point.
Now - what factor do I use for the increase? I can't find any historical rates - not even 2018. I suspect there are people who go frequently enough to be able to give me a good estimate. I started using 7% each year - but that almost sounds too low. Yet if I use say 10%, we're up to $1000 a night ($945) by then. I guess that's not unreasonable (because ... well, Disney). So my target amount is about 24,000 to save (4 rooms, 6 nights, $1000 per night. And with what I started to put away I'll get there (I'm assuming a 6% return on my investments - and I'm considering taxes on that as well).
So my question is: is 10% still too low?
Any thoughts?
Thanks much!