Retire and Travel the World
Can you retire early to travel the world if you have a tight budget? We are living proof that it can be done as we are almost 8 years into our open ended world trip.
RETIRE EARLY AND TRAVEL THE WORLD
We were a bit nervous to retire at barely 50, but now we are so glad that we sold everything to do this and took the risk. As Tim Ferriss said about us:
"You don't have to be rich to live a rich life"
LONG TERM TRAVEL AND RETIREMENT
AND we had a late baby, so educated our ( now fluently trilingual) daughter through world schooling and homeschooling all of her primary school years Likely the best education in the world for a 21st century kid and allowed us so much time together and freedom. Slow travel is the key for keeping costs down and preventing travel burnout.
"To know you have enough is to be rich" Lao-Tzu
CAN YOU AFFORD TO TRAVEL IN RETIREMENT?
We don't have unlimited funds and very few people have that, but with careful planning and some calculated risk, this is a very doable goal for many baby boomers who want to explore the world. Most people wish that they could leave their everyday work routine behind and depart on a world tour that never ends. You can!
EXTENDED TRAVEL IS CHEAP
As I wrote long ago, extended travel is MUCH easier than most people realize and can be done on a very small budget. We've traveled the world and lived large on $23/day per person ( 45 countries on 5 continents) and could do it on even less. That turns out to be 25K a year which is actually pretty typical retirement annual budget.
STRETCHING RETIREMENT DOLLARS
We can just stretch our dollars more through world travel and by not owning a home or many things. A purposefully "homeless" retirement opens many options and you won't really be homeless, but more like you have many homes like the very rich.
Due to the world wide real estate boom where many bought second homes and then recession, there are a glut of furnished homes and apartments world wide, so most can be rented very easily and cheaply for long term ( especially off season).
"HOMELESS" RETIREMENT TRAVEL - CHEAP RENTALS
What is renting a place in Spain for the winter like? Or a home in tropical Asia with living costs? Here is how we found our rentals in Spain and apartments in Penang. It is easier than ever to find furnished rentals today and we have done it in Austria, China, London,repeatedly in Spain and Malaysia, plus California and Hawaii in the USA and more. Some times we stay for a week , sometimes for six months or a year.
KEYS TO FRUGAL LIVING IN RETIREMENT TRAVEL
Even places like Bora Bora, Tahiti can be cheap if you live like a local and rent an apartment. We spend time in expensive places like Paris, Norway, Bhutan, Moorea, Sydney etc, but the key to frugal living is living a minimalist life ( which is a maximalist life in ways like freedom), living like a local, not doing a lot of flying and spending the bulk of your time in more rural and cheaper locations.
RV'S ARE PERFECT FOR RETIREES - ESPECIALLY IN EUROPE
We also think a small motorhome is the best way to vacation in Europe, and is an ideal way to keep a vehicle/home/storage unit in Europe for many road trips and grand tours of the continent over many years. We store it very cheaply when we are not there.
Camping is luxurious in Europe and these are some of our favorite sites, but you can also do it for free in many countries. Bring your kids or grandkids with free summer camps and free kids clubs or even learn a language while there. Multigenerational travel rocks!
ONE BASE OR MANY?
A growing number of Americans are spending their golden years abroad and stretching their retirement savings that way. Some like to base in one place, but we like combining family travel and location independence with the concept of "many homes" plus the advantages of being a global citizen.
YES YOU CAN RETIRE EARLY AND TRAVEL
What is sad is most people don't realize that one doesn't need millions to live this life and if you are a curious and flexible type, it is so much easier and more rewarding than you can imagine. We travel the world quite luxuriously on much less than we could ever live at home in California.
Do you plan to retire and travel? What is your retirement dream? Are you planning for early retiremnt?