As summer approaches, a growing number of wealth managers are advising clients to consider a seasonal 'trial run' before committing to full-time retirement. The concept, which involves taking an extended summer vacation to simulate retired life, is gaining traction as a practical tool for assessing financial and lifestyle readiness.
Kelly Wright, director of financial planning at Verdence Capital Advisors, emphasizes that the timing of retirement is only one piece of the puzzle. Location, she notes, carries significant tax implications. 'Some states do not tax certain retirement income, while others reduce deductions based on adjusted gross income,' Wright explains. She recommends clients run a state income tax proforma comparing their current residence with a potential retirement destination, factoring in cost of living, property taxes, and insurance costs before purchasing a vacation home.
Robert Alimena, partner and private wealth advisor at Procyon, points out that one of the biggest early-retirement challenges is establishing a new routine and understanding the true cost of living for a desired lifestyle. Retiring as summer begins, he argues, provides a natural litmus test. 'If you live exactly how you want for the first few months, can you maintain that spending rate successfully on an annual basis throughout retirement?' Alimena asks. He cautions that if clients spend more lavishly during summer travel but do not plan to sustain that pace year-round, it may take extra months to smooth out annual spending expectations.
For those considering relocating to a favorite vacation spot, Alimena strongly recommends renting a home in the area for an extended period. 'By taking an extended vacation and renting a house or condo, you will typically not be packing every day with visiting the areas’ attractions,' he says. This approach allows clients to experience normal daily life—grocery shopping, cooking at home, and relaxing—which provides a more accurate picture of both enjoyment and actual living costs.
Mike Duffy, financial advisor at Bogart Wealth, views the summer trial as a way to practice the rhythm of retired life, including managing unscheduled time, being away from one's primary community, and spending extended periods with a spouse. 'One of the most important jobs as an advisor is to visually demonstrate that funding major lifestyle goals, like meaningful summer travel and vacations, can coexist with a structured long-term retirement plan and legacy planning,' Duffy says. He uses historical data, optimization strategies, and cash flow modeling to reassure clients of their financial security.
Duffy also advocates for a 'bucket' approach to asset allocation, separating the portfolio into distinct segments: one for living expenses and lifestyle goals, and another for growth earmarked for heirs and legacy. 'This approach reframes spending not as a depletion of their life savings, but as the intentional execution of a structured plan,' he notes. Ultimately, he says, it helps clients realize that creating lasting memories with family is as important a piece of their legacy as the wealth they leave behind.
The summer trial run concept aligns with broader trends in retirement planning, where advisors are increasingly focused on lifestyle and behavioral factors rather than just portfolio numbers. As the Cerulli RIA M&A pipeline hits $3.9 trillion, driven by a wave of retiring advisors, the need for effective retirement transition strategies has never been greater. Similarly, the Bank of America survey showing 77% of U.S. consumers plan summer travel in 2026 underscores the relevance of seasonal planning.
While the summer trial offers valuable insights, advisors caution that it is not a one-size-fits-all solution. Clients must be prepared to honestly assess their spending and lifestyle preferences, and to adjust their plans accordingly. For those who do, the payoff can be a more confident and financially sustainable retirement.
