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Or maybe youve saved for most of your adult life and yourinvestments are paying offin todays market.
Because its newfound money, many still dont understand the risks, she told GOBankingRates in an exclusive interview.
Theyre looking for luxury accommodations and fine dining and forgetting about a budget.
That can get them into trouble.
If they keep spending like that, they wont have their money for long.
They have to check that the bank and credit card companies know where theyre going, Clement pointed out.
Clements warned against carrying expensive designer bags or wearing fancy jewelry in U.S. cities or abroad.
New millionaire travelers need to understand that with money comes a need for a little bit more awareness.
Youre high profile now, Clement said.
Not Understanding Local Cultures
Often, studyinglocal cultural normscan help you blend in.
You have to double-check youre armed with a lot of information about the places youre visiting, Clement said.
This can also enhance your travel experience, Clement said.
Youll have far more of an experience if you explore theactual everyday lifeof the culture.
Burglars go through the master bedroom first, she advised.
But more than that, work with travel advisors to ensure you have a plan for any contingency.
A lot of insurance policies can cover a medical emergency andeven political evacuation, Clement explained.
You may want cancellation protection if you have to delay a vacation due to illness oreven a work emergency.
If you take out travel insurance, ensure you understand what that travel insurance is covering, Clement said.
double-check that your profile is low-key when youre going away, Clement said.
Dont advertise on social media and tell everybody where youre going, because then you become a target.
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